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.

Amazing Atlantic view lots with dockage - Lot #44.

With such a beautiful location on Tilloo Cay, any home built on this lot will have sensational views of the Atlantic Ocean, making every day a vacation. The shoreline of this great development is protected and would be ideal for anchoring and docking boats.

Tilloo Cay is a quiet and private residential cay with a serenity that is only enhanced by the extraordinary sunset views and unspoiled beaches. Only minutes away are Hope Town, Marsh Harbour, Lubber’s Quarters Cay, White Sound, and incredible Tahiti Beach. A large community dock has just been completed, allowing residents to fully enjoy all the fishing the teeming surrounding waters have to offer. Electricity to this lot will be completed shortly.