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.

Location, views, and affordability, this wonderful waterfront 2 bedroom apartment on the 2nd floor of Harbour House Towers has it all.

Comprising over 1200 feet with a massive balcony boasting incredible views of Bell Channel Bay, Port Lucaya Marina, Marketplace and stylish Pelican Bay Hotel.

The unit has been fully renovated and upgraded and features gorgeous kitchen, spacious bedrooms and an easy flowing floor plan.

Harbour House Towers is a highly desirable hi-rise condominium in Lucaya, just a few minutes walk to Port Lucaya, grocery store, shopping, beaches, restaurants and Casino. The building has fantastic swimming pool, ample dockage, private gymnasium, on-site property management and night time security.

Condominium fees include water, hurricane insurance, pool building and grounds maintenance, property management for the complex, sanitation and security.