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.

Enjoy fantastic views of lively Port Lucaya, Pelican Bay and the Marina from your spacious private balcony. This lovely 2 bed 2 bath condo on the 6th floor boasts over 1,300 sq. ft. of living space and is offered fully and comfortably furnished.

Each bedroom features en suite bath and dressing area. The master bedroom and living area each have access to the balcony via patio doors.

Harbour House Towers is ideally located just across the marina from Port Lucaya and is just few minutes walk to beach, shopping, restaurants and entertainment. Grounds are completely enclosed and there is onsite property management and nighttime security.

Amenities include ample boat dockage available for rent or sale. Newly refinished pool and lounge area, gymnasium, 2 elevators and so much more.

Call Catherine to arrange to view today!