Loan Amortization Calculator

An amortization schedule reveals the specific dollar amount put towards interest, as well as the specific put towards the Principal balance, with each payment. Initially, a large portion of each payment is devoted to interest. As the loan matures, larger portions go towards paying down the principal. The first payment is assumed to take place one full payment period [one month] after the loan was taken out, not on the first day of the loan. The last payment completely pays off the remainder of the loan, often the last payment will be a slightly different amount than all earlier payments. In addition to breaking down each payment into interest and principal portions, the amortization schedule also reveals interest-paid-to-date, principal-paid-to-date, and the remaining principal balance on each payment date.

There are a few crucial points worth noting when obtaining a mortgage for a home with an amortized loan. First, there is substantial allocation of the monthly payments toward the interest, especially during the first years of the mortgage. You will notice that the first payment allocates about 90% of the total payment towards interest and only about 10% toward the principal balance. Not until much later payments into the loan does the payment allocation towards principal and interest even out and subsequently tip the majority of the monthly payment toward Principal balance pay down.

Rare opportunity to own one of Green Turtle Cays first prominent estates built and owned by the founder of the Green Turtle Club. The world-renowned British boat designer did not choose this location for no reason. The 5.03 acres is situated just 200' west of the Green Turtle Club Resort and Marina. The nicely elevated property was originally improved with a 2,940 square foot 4 bedroom 5 bath under air custom home. The home was originally built in the '70s but upgraded and renovated in 2010 with all-new kitchen cabinets and stainless GE profile appliances. All new bathrooms are tiled with marble and ceramic and have all-new high-grade fixtures. A new porch was added on the front of the house, and a new clay tile barrel roof was installed. The roof interior was reinforced to withstand the weight of the new tile roof. All new AC systems were added at the time. The home has been an absentee owner for a number of years and will require additional upgrades to bring the home back to new condition. Each bedroom has its own entrance. In addition, the home offers 2,372 square feet of partly covered porches. The home's foundation is primarily built with CBS concrete block and reinforced steel. The floor plan is all on one level. The rationale behind this layout at the time was the house could double as a hotel room when it was not being occupied by the owners. The former owner had an extensive engineering background and built a secure, well-built, stout concrete/stucco home. The concrete cistern that is incorporated into the foundation of the home contains a 125,000-gallon capacity. An ample supply to service all your vacation rental needs. Easy access to the marina, restaurants, Coco Bay, and Atlantic Ocean beaches.