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.

Enjoy fantastic harbour, golf course and ocean views in this spacious, modern condo on Paradise Island at the luxurious Ocean Club Residences and Marina.

The newly renovated home features porcelain tiles throughout, a large kitchen with granite countertops, high end appliances and a four-seater island. The home is well lit with large windows in every room.

Two ensuite bedrooms are yours with a generous balcony in the master bedroom. There is an additional powder room for guests. Large patios overlooking the ocean, pools, Nassau Harbour and the Ocean Club Golf Course are yours for relaxing and entertaining.

In addition, owners will have full access to a full range of amenities such as swimming pools, tennis courts, golf course, fitness center and luxury lifestyle concierge services. This property is also a mere 3-minute golf cart drive from the private beach club located on beautiful Cabbage Beach, Paradise Island, the ultimate find in luxury lifestyle.

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