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.

Elevated 11,000 sq. ft. residential parcel located on Ocean Drive in Long Beach. Enjoy ocean views and sweeping vistas from 55' above sea level in your newly built 2-storey home just steps from one of the most beauitful beaches in Abaco.

Underground city water & electricity are available at the front of the lot.

Special Offer - The adjacent lot to the Northeast is also available for purchase and can be purchased along with this lot to allow for more land to build on for $150,000 - a $10,000 savings!

Just minutes from Schooner Bay which is a newly developed small Harbour Town and Community offering by late 2012 shops, restaurants and other mixed-use buildings generating a civic and commercial vitality to the area.