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.

Situated on two streets, Shirlea Road and Essex Street, this historic Bahamian home, like an Embassy on a hill, has produced not just one NBA Champion but two and counting. Michael " Sweet Bells" Thompson of the Los Angeles Lakers and reigning champion Clay Thompson can attest to the nurturing received in this champion homestead in a serene Bahamian neighbourhood that has quick access to commercial sites on Shirley Street and near to down town Nassau.

This 3 bed room 2 bath main home is well constructed with a solid foundation and elevation. It is not prone to flooding and has access from both sides. It also has another building separate from the main house that is used for a home business and has produced rich cultural expressions of our heritage.

This property is a breeding ground for success and champions. The spacious yard has the potential to be used for additional parking as the location is central and prime.

This property can be used as an income investment or modernized into a nurturing home or converted to a cultural heritage site.