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.

The home's design ensures spectacular views of the Caribbean Sea from every angle, making every moment spent here a scenic experience. A unique handmade driveway crafted from native rocks adds a charming and rustic touch to the property's exterior while blending seamlessly with the natural landscape.

The Lower level has two comfortable bedrooms and 3 full baths, offering serene retreats with large windows to take in the stunning ocean vistas. A dedicated laundry room equipped with appliances and ample storage space for convenience. An exquisite screened sitting area that allows you to enjoy the fresh sea breeze and panoramic views without interruptions from insects, ideal for both relaxation and social gatherings.

A cozy office space with large windows provides beautiful views, making it an inspiring place to work from home. The open living space is characterized by high cathedral ceilings, creating a sense of grandeur and spaciousness. The large windows throughout the home offer stunning views of the beach, allowing natural light to flood the interiors and providing a constant connection to the beautiful coastal surroundings. The living area seamlessly integrates with a full kitchen, equipped with modern stainless steel appliances, making it perfect for both everyday living and entertaining guests.

Additionally, there is a small bar area situated in the dining space, ideal for casual gatherings and enjoying refreshments. The overall design combines elegance and functionality, making it a perfect retreat for those seeking a luxurious beachside living experience. The upper level has one bedroom, a full bath, and a small sitting area that can be renovated into another bedroom. You'll find an open workspace that grants spectacular views of the downstairs living area and the sea beyond. This space is perfect for those working from home or simply wanting a serene spot for creative endeavors. The upper-level workspace also offers a prime vantage point for enjoying the stunning sunsets over the ocean, making it a truly unique and inspiring feature of this home.