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.

Think of this large historic family home as your own. It is being sold completely unfurnished in as seen as is condition. This expansive home (4,695sqft) sits on two large lots at the top of the Lucayan Ridge on Grenada Avenue. It was built in the traditional style offering a Guest Suite/live-in maid quarters/Mother-in- law suite complete with an ensuite bathroom and its own entrance. The laundry room is large with ample cupboards and shelving.

The kitchen features a large pass-through to the family/dining room, making it easy to expand your living space by opening up the kitchen. This large family room joins the large living room with its working fireplace through two entrances. Opposite, is the sealed-in Bahama room, expanding your living space into the garden. Within the backyard expanse of two lots is a large elevated pool in a beautiful garden setting. The four carpeted bedrooms and two full bathrooms give you and your family lots of space. Keep in mind this house is offering 5 bedrooms and three full bathrooms, a large windowed-in Bahamas Room with entrances from one bedroom and the family room. Also offered is the large two-car garage which has been converted into a billiards/recreation room. The property includes a large attached 2 and a half car carport, as well as 3 outdoor storage buildings. #439 & 441 Grenada is a great opportunity to make your home and your memories.