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.

"Nestled on a sandy beach in beautiful Bimini, this 4 bedrooms 4 bathrooms contemporary house in The Bahamas is an ideal home or retreat for family and friends.

The newly built home sits on 11,000 sq. ft. and features high ceilings, cool colored walls and tiles throughout. The spacious kitchen is complete with granite countertops, stainless steel appliances and modern cabinetry. The bathrooms are also furnished with granite countertops and modern fixings. Each bedroom is complete with modern bedding and closets.

Enjoy ocean views from the spacious living quarters and outdoor entertainment on the large beachfront patio.

Bimini Bay Beach House affords one unlimited access to the entire Bimini Bay Resorts World property with access to the marina, casino, bars, restaurants, spa, gym, playground, tennis courts, infinity pools and beaches.

A great investment for a second home or a vacation rental."

Contact me for viewings and make this beautiful home your own.