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.

This stunning townhouse has spectacular aquamarine ocean views from all three bedrooms! There are three outdoor patios for sunbathing and enjoying the calming sea breeze. Just a few steps from the world-famous Cabbage Beach with a private gated entrance you can immerse into an expanse of powdery sand and miles of beach. You can also enjoy fine dining at the One and Only Ocean Club that is adjacent to the property.

This three storey 3 bedroom, 3.5 bathroom townhouse comes fully equipped and ready to move-in. It has marble tile, central air conditioning, washer/dryer and dishwasher.

Mira Mar is a beach front gated community on the exclusive Paradise Island with a pool and garden area.

This is a rare rental opportunity to be on the beach and just minutes from Atlantis Resort.