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.

Welcome to your dream home on Paradise Island! This luxurious condo at Ocean Club Residences and Marina offers a truly exceptional living experience. Enjoy breathtaking harbour, golf course, and ocean views right from your spacious and modern abode.

Step inside and be captivated by the newly renovated interior featuring elegant porcelain tiles that add a touch of sophistication. The large kitchen is a chef's delight, boasting granite countertops, high-end appliances, and a four-seater island perfect for culinary adventures or casual dining.

Natural light floods every room, courtesy of the large windows that adorn this exquisite home. Feel the warmth of the sun and bask in the beauty of your surroundings as you gaze out at the stunning vistas.

This condo offers two ensuite bedrooms, ensuring privacy and comfort for you and your guests. The master bedroom goes above and beyond with its generous balcony, creating a tranquil retreat where you can unwind and indulge in the picturesque views. An additional powder room is available to cater to your guests' needs.

The allure of outdoor living awaits you on the large patios that overlook the mesmerizing ocean, inviting pools, Nassau Harbour, and the prestigious Ocean Club Golf Course. Whether you seek relaxation or entertainment, these patios are the perfect setting to create unforgettable memories.

As an owner, you'll have exclusive access to a plethora of amenities designed to enhance your lifestyle. Take a refreshing dip in the swimming pools, indulge in a friendly match on the tennis courts, or perfect your swing at the world-class golf course. Stay in top shape at the fitness center and let the luxury lifestyle concierge services cater to your every need.

To top it all off, this property is conveniently located just a 3-minute golf cart drive from the private beach club on beautiful Cabbage Beach. Immerse yourself in the serenity of pristine sands and crystal-clear waters, truly the epitome of luxury living.

Don't miss out on this extraordinary opportunity! Call now to schedule an appointment and experience the epitome of luxury living on Paradise Island. Your dream home awaits.