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.

Fantastic Opportunity in Whale Point North Eleuthera, Harbour Island's little sister.

This great half acre property is located at the inlet of Teal Duck Lake, Whale Point, Bottom Harbour, North Eleuthera.

A one bedroom house, fully furnished, bedroom upstairs, living, dining, kitchen and bath downstairs. A wonderful lazy shady porch, and extended deck, (in need of small repairs).

The second house is unfinished so lots of fun to be had personalizing this great one bedroom loft.

A third foundation for a guest cottage or dining gazebo is perfectly positioned and ready for construction.

The property is fenced and boasts a great boat ramp providing excellent access to the small inlet and canal for a skiff, kayak, jet ski and other fun water pursuits.

Make this your perfect island getaway today!