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.

Boasting gorgeous deep and clear water canal views, this gorgeous single family lot with over 90 feet of canal frontage is an affordable opportunity for waterfront living.

Thanks to the newly constructed Jack Hayward Bridge connecting the east and west portions of the island access to downtown Freeport, shopping, restaurants, airport and harbour is under 10 minutes!

Situated in a developing area, the lot is 10,800 square feet in size with 90 feet of sturdy concrete bulkhead. The canals are deep, wide and clear and the lot is on the Grand Lucayan Waterway and exit to the north shore of Grand Bahama.

Priced to sell, this canal lot won't be on the market for long.

Call to arrange a viewing today!