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.

Welcome to this delightful, end unit sun-filled 3 bedroom residence in coveted Starfish Isle in Palm Cay. Located just steps from the beach, this turn-key home features a functional layout punctuated by an open floor plan allowing for maximum light and air throughout the space.

The ground floor comprises the spacious living room, gourmet kitchen and dining area with views of the pool and the beach to the sea beyond. Upstairs there are three ensuite bedrooms including the elegant master suite with a private balcony

1401 Starfish Isle is ideal as a full-time residence or a vacation home. For full time residents, there are excellent schools, shopping and other conveniences nearby. For seasonal owners, Palm Cay offers an in-house rental program that generates income when you are not in residence.

Palm Cay is a master planned beachfront gated community set on 69 acres in beautiful Eastern New Providence. Amenities include a majestic clubhouse with restaurant and bar, beach club with cabanas, a full-service, deep water marina, swimming pools, tennis courts, a deli and a fitness center.