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.

Moonlight Bay is a residential neighborhood on the northern edge of Savanna Sound. A handful of home sites offer a unique opportunity to build your private island getaway on the edge of paradise. Nice elevations provide stunning 180 degree views from every home site. Deeded access to a private boat launch with each home site.

Savannah Sound is just south of central Eleuthera - perfectly situated for easy access to Governor’s Harbour and Rock Sound. Home to one of Eleuthera’s most treasured bone fish flats. The “sound” is teaming with exotic sea life protected by mangroves and turtle grass. It offers launch points for boaters and avid fisherman alike to both the Atlantic and Caribbean waters for every kind of fishing imaginable. From big game to hand line!

Savannah Sound is a quiet settlement full of very friendly and talented people, proud ancestors of our nation’s creator and composer of the Bahamian National Anthem.