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 stunning, colonial home was built in 1924 and boasts of extensive renovations and expansions. Considered one of the finest homes on the popular Eastern Road, The Columns is a property with unparalleled beauty and charm.

The home comprises 5,340 sq. ft. of living space with a 1 bedroom garage apartment and 5 bedrooms in the main house. This elegant residence has a formal living room and dining room, sitting room, casual family room connecting to a casual dining area, bahama room and extensive outdoor patios and verandahs.

The well thought out floor plan provides wonderful flow throughout each area and is perfect for the casual living of a large family as well as formal entertaining. A newly renovated kitchen with granite counters and top of the line appliances is sure to inspire any culinary expert. Additional features include 12' ceilings, handsome crown moldings, elegant hard wood floors and Italian tile.

As an added convenience, the property is equipped with a fully automated 50kw generator, roll down shutters and staff quarters.

The Columns sits comfortably on 1.365 acres of lush tropical grounds, covered patios with panoramic ocean views, a circular driveway with electronic entrance and exit gates, and an intimate pool and patio area to the rear with cabana and changing rooms.

Across the road you will find a 100 ft. of private water frontage with sufficient space to accommodate an ocean front cabana.

There are 3 additional pieces of land surrounding the property that could be available for purchase. These lots would each be at an additional cost and are not available separately. They are only available with the purchase of the main residence. Please inquire with us regarding pricing and further details in relation to these additional pieces of land.