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.

Located close to the island's capital Governors Harbour and close to the airport, this well-priced lot has a wonderful cliffside view of the Bahamian waters and is a 2-minute walk to Twin Coves beach.

Easily one of the most stunning beaches on the island, Twin Coves beach consists of 2 half-moon bays flanked by coconut palms, with the softest, powdery pink sand.

The fishtail formation of the twin beaches plus protection from the reef means that one can swim there most of the year-round.

About 200 yards to the north of Twin Coves beach, lot B4b is on an elevated cliffside affording incredible views and breezes with 50 feet of water frontage, set amidst lovely native vegetation such as sea grapes.

Set on the Old Banks road, this is a very pretty area to walk or cycle with gorgeous beaches and snorkeling to the north and south. SkyBeach Club is a 2-minute drive for cocktails at sunset.

This is a perfect location to build a holiday home. Although it is a quiet and peaceful spot, Governors Harbor is only a 3-minute drive away with its quaint old homes, shops, and amenities, and the airport is a 10-minute drive to the north.