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.

This beautiful home is situated on the canal in the coveted Fortune Bay area, which will make living on the water all that you can imagine. Only a short boat ride to the ocean and beaches adds to this fantastic location. This home is located on Pike Close and offers 2,500 ft of living space in the main home. The living space of the home offers a spacious open floor plan with hurricane-proof windows and doors.

Central Air Conditioning will keep you cool during the summer months. The outdoor living space has a covered veranda that provides shade for the entire length of the back of this incredible home. For the boaters in the family, this property has a sea wall and a boat lift.

This island-inspired home is all that you can ask for, with a huge backyard space and a manicured lawn that delights the senses. An overall outstanding home with so much to offer its lucky NEW OWNER.