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.

Discover this exceptional 4,000 sq ft two-story commercial building situated on Lot 13, a 5,000 sq ft lot, with Lot 14 being adjacent and 5,000 sq ft parcel includedoffering added potential for expansion or additional parking. These two lots being sold together are the perfect opportunity. Currently home to the Albania Christian Academy Preschool, these well-maintained lots is perfectly suited for educational institutions, office use, or other commercial ventures.

The interior features a spacious auditorium, multiple versatile rooms, and several bathrooms, making it adaptable to a variety of layouts and business needs. Comfort is ensured with central air conditioning complemented by split ductless units throughout the building. The office and spaces upstairs have been rented out for additional income and serve as ideal venues for receptions and community events with ample parking via the vacant lot.


Located at the corner of East Street and Palm Avenue, these lots offer excellent visibility and accessibility. Just minutes from downtown, its conveniently surrounded by restaurants, shops, and other amenities, providing both foot traffic and convenience.

Whether you're an investor, developer, or organization seeking a functional and centrally located commercial space, these lots present a rare opportunity.