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 is your opportunity to own land in San Salvador at an affordable price! Enjoy ownership of your own piece of Family Island paradise on this charming and historical island.

Interior lots range from $13,500 to $21,000 with sizes ranging from 11,500 sq. ft. to over 16,000 sq. ft., and all are within walking distance of beach access.

San Salvador is known for its white sandy beaches and its quiet, laid back atmosphere and is also known as the site where Christopher Columbus first made landfall on his voyage to the new world.

A Club Med Resort is also located in San Salvador and the local airport has one of the longest runways in the Bahamas in order to accommodate international jet service direct from France, also receiving flights from Nassau and the United States.

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