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 expansive views of the new Hurricane Hole Superyacht Marina and Nassau Harbour from this contemporary two bedroom, 2 bathroom condo at Sterling Commons, Paradise Landing.

This brand new tastefully furnished 3rd-floor condo is located at Sterling Commons, a collection of newly completed luxury condo residences at Paradise Landing on Paradise Island. The condo blends modern chic with island charm and features the utmost in design, quality and elegance. The condo is fully equipped with high-end appliances, quarts countertops, central air conditioning, laundry facilities and hurricane rated doors that open out to a large private balcony. The unit is also well appointed with linen and dishware.

Centered around a state-of-the-art marina, a known safe haven for boaters for generations, Sterling Commons residents have access to a uniquely progressive lifestyle. Setting the bar on elevated contemporary living, Paradise Landing is the new downtown Paradise Island. The perfect address for those who want a cosmopolitan life infused with island bliss, this new mixed-use community offers a lifestyle that has never been offered on Paradise Island.

Everything you need is a few steps away"¦ White sand beaches and warm crystal-blue waters make Paradise Island a perfect island oasis. Today, Paradise Island is home to iconic Bahamian properties including The Atlantis, Atlantis Marina Village, Four Seasons Ocean Club, Ocean Club Golf Course and the Sivananda Ashram Yoga Retreat.

Owners at Sterling Commons, Paradise Landing have the option to join the exclusive Ocean Club on Paradise Island. Membership offers access to the world-renowned 18-hole golf course and clubhouse, and the Beach & Tennis Club.

While you are not occupying your condo, enter it into the rental program and management service to generate income throughout the year. No Property Tax on your unit when it is placed in the rental pool!