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.

Located in Phase 2 of the new Coconut Cove condo complex, this 3 bed, 2 bath luxurious top floor condo is one of 11 new 1 bed, 2 bed and 3 bed units to be added to this stylish boutique complex located on the famous Cable Beach strip, just steps away from powdery sand beaches, grocery stores, Baha Mar resort and casino, a Fusion Imax Cineplex, spas, shops, restaurants and a Jack Nicklaus Golf Course.

This unit will feature a contemporary open living area concept with high ceilings, quartz countertops, mosaic backslash tiles, custom cabinetry, and energy efficient lighting throughout. No detail has been spared! You can enjoy the beautifully landscaped gardens from the view from your covered outdoor verandah, or relax poolside at the private and secluded community pool and gazebo.

Other features include a pet friendly environment, two parking spaces along with additional guest parking, and a controlled gate-access to the complex.

An optional developer-offered luxury upgrade designer package is available for appliances and furnishings.

Call now to arrange a private viewing and consultation with a knowledgeable real estate professional.