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.

La Concha 33812 condo is in the exclusive community of Bimini Bay, close to the Hilton Hotel and Casino, mega marina and five-star restaurant.

This fully furnished 1,200 sq. ft. unit is located on the second floor which adds additional privacy to you and your family. Open floor plan features two bedrooms with en-suite bathrooms, fully equipped kitchen, washer, and dryer, and two large patios one is Ocean view and one overlooks the community.

The HOA fees approximately $1,128.46 monthly and includes insurance, waste treatment plant, sanitation services, landscaping, monthly pest control services and mosquito treatment for the property, cable box and internet, upkeep of common area, resort access and amenities.