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.

Built on a striking 5+ acre property a short 5-minute walk from the iconic white sand of Love Beach and with quick access to the Nassau International Airport. Westend is a 4-phase residential development featuring vibrant one-, two- or three-bedroom condominiums as well as a limited number of well-appointed private two-story townhomes.

Phase one included 68 luxury one, two or three-bedroom condominiums and 12 two-story townhouses with a private pool and garden. Amenities include: Exclusive gated entrance and community with card access and telephone entry system, manned 24-hour security, superior reinforced concrete construction, private designated parking spaces, resort-style outdoor infinity pools with cabanas, state-of-the-art fitness centre with training equipment, spacious reception lounge with kitchen and access to outdoor terrace for private events, back-up standby generator, and a flexible rental program.

The residences, which include 1-bedroom studios, 2-bedroom suites, 3-bedroom condominiums, and 3-bedroom Townhouses, range in price from $319,000-$895,000. Features of these condominiums include: Ceiling height of 10 feet, full-height impact glass windows, walk-out balconies and terraces (depending on the unit model), superior quality engineered hardwood flooring, European-design kitchen cabinetry, central island with quartz counter and backsplash, appliance and furniture packages available, contemporary-style designer vanities, frameless glass shower and freestanding bathtub, dual-flush toilet, built-in closet cabinetry(depending on the unit model), basic home automation system, and central air-conditioning, and more.

Reserve your unit today with a $10,000 refundable deposit for a limited time only.