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.

The residences of Caves Heights in Western New Providence provides a luxurious island lifestyle with many amenities and breathtaking views of the ocean.

The upscale development has its own private fitness center and lit tennis court, two private swimming pools, one heated, with a barbecue and entertaining area near the grotto waterfall feature, 24 hour manned and gated security, a back up generator, proximity to shopping and dining and within minutes of Cable Beach, Old Fort, Lyford Cay and the International Airport.

This spacious Capri 2 bedroom, 2 and a half bathroom condominium offers 1,800 square feet of professionally furnished living space with a grand master bedroom suite, an additional bedroom and large living/dining area with an extra deep ground floor balcony offering superior ocean views. Each room offers ceiling to floor panoramic hurricane impact proof windows with the large covered patio overlooking lush landscaped gardens for relaxing and entertaining.

The modern kitchen offers custom built cabinetry with solid wood doors, granite counter tops and stainless steel appliances. The master suite has 2 walk-in closets with plenty of room for storage. The bathrooms have ceramic tiles, designer tubs, sinks, toilets, bidets, faucets, towel fixtures and marble vanity tops and made of solid wood.

This unit is unique in that it comes with its own storage unit. Each unit comes with 2 conveniently lighted parking spaces, ample guest parking, management office on-site, beach and Caves Village Shopping Center access.