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.

At 10,000 sq. ft., this lot is ideal for your main or vacation home in Ocean Addition West in beautiful Exuma.

Sandals Emerald Bay, Grand Isle and the Marina are all just a short five-minute drive away and the international airport is also nearby in addition to shops, restaurants, and gorgeous beaches.

Utilities are at the lot.

Live here nestled among the 365 islands and cays of the Exuma chain and embrace the clear blue waters teeming with exotic marine life and a kaleidoscope of brilliantly colored coral reefs and fish.

Enjoy life in Exuma with the Exuma Cays Land and Sea Park, seasonal boaters, annual regattas, unspoilt beaches and much more.

Call today!