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 unique beachfront property is a must-see! Constructed of cypress wood that hardens with age and exposure to water. It was built with our weather in mind and was completed in 2010.

This quaint beach cottage easily survived the ravages of recent storms. The home was constructed to maximize airflow. The roof was designed to keep the hot air glowing out through the use of strategically placed marine air vents and a cupula in the roof. The roof sports metal roof shingles. You will find a solar water heater as well as learn that the foundation of the house was dug 5 into the bedrock on 5' raised columns.

The screened front porch covers the entire front of the house and is equipped with full hurricane shutters and floor drains. They have a dual function - as a cool air conductor and a way for the water to drain out should any water get in.

The kitchen, dining, and living room are open-concept areas that occupy the center third of the house, while the bedrooms are at the back.

The house also offers a generator and an outdoor shower to rinse off the sand and seawater before you come in.

Call us to arrange a showing of this one-of-a-kind cottage - it is an ideal short-term rental spot for adding solar panels to keep you off the grid.