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.

Great price! This single family homesite is priced to sell!

Located in the Derby Subdivision, this is the perfect property for both a long term investment and immediate construction.

The Derby subdivision lies on the East side of the Grand Lucayan Waterway and close to the Grand Bahama Highway. Currently access to this property is through East Sunrise Highway across the Casaurina Bridge.

The new bridge, which is underway now along the north end of the Waterway will provide easy access and a very short drive to Downtown Freeport with all amenities.

This is truly an ideal investment.

Service Charges are $268.75 a year.