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.

Dramatic and dazzling coastal and ocean views await you from this elevated building lot in beautiful and peaceful Long Beach, Abaco.

Lot 405 is a gently sloping elevated lot that enjoys direct views out over a designated greenspace area to the gorgeous turquoise and aquamarine waters beyond. A beach access path is directly across the road from this lot, so it's literally a short 2 minute walk to one of the most beautiful beaches in the Abacos, Long Beach, with its powder fine pink sand, white sandy bottom right off the beach perfect for swimming, and vibrant coral reefs offshore for great snorkeling.

Long Beach is a peaceful and beautiful community about 1/2 hour drive south of the commercial center of Abaco, Marsh Harbour. Utilities are in place at the lot making this an easy property to build on. Additionally, there is a boat ramp and dock nearby on the protected western side of the island which affords access to pristine wetlands and waterways, great for exploring and fishing in small boat or kayak.

This lot is priced to sell and won't last long! The neighboring lot 404 is also available and could be combined with this one to create a truly unique estate.