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.

Stunning and sophisticated, this newly renovated four bedroom canal front retreat combines clean lines with sleek, open interiors to create a one-of-a-kind contemporary residence in the gated community of Port New Providence.

Well manicured gardens surround the property and features a relaxing, canal side pool and a private dock large enough to accommodate a 50 ft plus boat comfortably.

The grand 4,500 sq. ft. layout is accented by impact-resistant windows that fill the home with natural light and oversized granite porcelain tiles flooring that create an airy feel. Each of the bedrooms are en-suite, with the master bedroom boasting a spacious walk-in closet. A home office space and sitting room flow freely into the living area, making entertaining a breeze, while the adjacent modern kitchen is outfitted with quartz countertops and crisp white cabinetry. Conveniently, a double-car lot and garage are outfitted for ample parking space.

This home is equipped with a full backup generator and is a true mariner's paradise.

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