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.

Lot 21 Block 6 - 13,000 sq. ft. with just over 116 ft. on the road.

This residential lot is situated on a gentle curve in the road and is slightly elevated. The lot shares a boundary with Lot 20 Block 6 which has close to 116 ft. on the road giving a total 231 ft. approx. on the road and 25,724 sq. ft. to the owner of Lot 20 and Lot 21.

South Ocean Estates, a new gated community, is located near to Albany, with the Tiger Woods' Golf course, Lyford Cay and Town Centre Mall with a large food store, various services and shopping available.

24 hour security, a playground and a pavilion for social gatherings provide a welcoming environment for modern single or multi family homes, with some new homes under construction.

Please call to view at any time.