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.

This prime development parcel on Yamacraw beach is a rare opportunity! It is beachfront land in New Providence featuring over 700 ft. of beach frontage.

Located near to Port New Providence and other gated communities like Palm Cay and Treasure Cove in Eastern New Providence, the property has endless opportunities for the development of your choice.

It is divided into seven beachfront lots, and is without covenants, preventing its development into a residential subdivision or into condominiums.

Currently there is road access to the properties, but no utilities. These would have to be taken from the main Yamacraw Road and run about 1,400 ft. to get to the property end of the last Lot.

Don't miss this incredible investment opportunity!

Call today!