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.

This 17,576 sq.ft. residential lot offers 226 feet of canal frontage, a fully functional dock and is situated on the tip of the Island Drive peninsula in the boating community of Port New Providence making it ideally suited for building a sizeable waterfront home with plenty of green space leftover for outdoor living and entertaining. This lot is one of the last remaining and ideally positioned lots in the community. One of the most family-friendly gated communities on New Providence, Port New Providence is a 20-minute boat ride from Rose Island, is in proximity to two private clubs"”Nassau Yacht Club and Nassau Sailing Club"”and serves as the launching point for the quickest and most direct route to the Exuma Cays.

In addition to direct access to boating routes, Port New Providence residents enjoy a wealth of highly desirable amenities such as 24-hour security, three clay tennis courts, a playground, a community clubhouse and a private beach. The neighbourhood is also directly adjacent to St. Andrew's International School, one of Nassau's most highly regarded schools in the Bahamas.

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