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.

A larger-than-normal apartment is located at Love Beach with three bedrooms, three bathrooms and a powder room.

From the front door, one enters a spacious entrance hall that leads directly to the bright open-plan living and dining area that is perfect for entertaining guests. The generously sized kitchen has a breakfast bar, granite countertops, and stainless steel appliances.

All bedrooms have en-suite bathrooms. The primary suite is located on the main floor and has a large en-suite with a separate soaking tub and shower, double sink, and separate vanity along with a spacious walk-in closet. There is then a staircase that leads upstairs to the second and third bedrooms along with the laundry cupboard.

This approximately 2,400-square-foot condo features 10-foot ceilings and 8-foot solid wood doors. There is a wrap-around balcony off the living area, as well as a private balcony or patio off each bedroom. The property has central air conditioning along with ceiling fans. There are also hurricane-impact windows and doors throughout.

The building has an elevator and coded door entry.

Love Beach Walk is a roughly 4-acre gated development that comprises five condo buildings on the beach in the western district of Nassau. It enjoys 24-hour security, a large pool area, and direct access to a deep and private mile-long powdery white sandy beach. It is also conveniently located just minutes from Nassau International Airport. Within a short drive are grocery stores, pharmacies, shops, restaurants, bars and schools.