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.

Escape from the world to these two large beachfront lots with 140 feet of beachfront each in Northern Cat Island.

These lots are located off the beaten track in a very private beachfront community consisting of 13 home lots. The soft white sandy beach has a hint of pink and it stretches for miles.

Nearby on the Caribbean side of the island is Shanna's Cove Hotel and Restaurant that serves wonderful meals.

The Arthur's Town airport with regular flights on Sky Bahamas is also nearby.

Lots 10 and 11 are available at $150,000 each or $300,000 for both.