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.

A fantastic opportunity in Governor's Harbour awaits the right investor.

This 31 Acres of open zoned, mixed, commercial or residential undeveloped land, straddling the width of the island, culminating in 400' of the finest powdery pink sand beach you can find, easily accessible via the Old Bank's Road is ready for development!

Situated at the entrance of the town center and core of the island, offering over 400 feet of iron shore, and adjacent to the fabulous French Leave property, ready for a sea wall, dock, condo development, the location could not be more perfect.

Elevation at the highest point is around 50'.

Own this property and enjoy sunrise on the most fabulous stretch of prime beach, AND sunset on the dock of the bay, every day!

Call now for a private viewing appointment.