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.

On more than half an acre in the exclusive community of Lyford Cay lies this grand, three-story colonial fixer-upper.

A stately entrance leads to the roomy 6,316 sq. ft. four-bedroom four-bathroom home with high ceilings and ground floor, second floor and third floor patios.

The home also features an entry foyer, large kitchen, dining room and multiple living rooms.

On the exterior, the terraced lawn, perfect for outdoor entertaining, has mature trees all around and there is also a long, wide driveway leading to the double car garage.

Fully enclosed, the home perfect for pets and is only a stone's throw away from the golf course.

This three storey colonial home has great bones and with some TLC can be the ideal space for a large family to enjoy and entertain.

The gated community of Lyford Cay is located at the western tip of New Providence and is home to the exclusive Lyford Cay Club. The community features a beautiful white sand beach, golf course, marina, tennis courts, fitness center and an International school.

By appointment.