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.

Located on the shores of the Cable Beach Riviera on New Providence, Conchrest is an 8-storey building on a white-sandy beach that has recently undergone a $1,200,000 renovation.

This third floor two bedroom, two bathroom newly renovated condominium is the perfect winter home or full-time residence. With just over 1,500 square feet of living space, this west-facing unit captures lovely ocean views and sunsets while watching turtles, manta-rays, stingrays and dolphins swim by.

The bright and airy apartment features imported Italian porcelain tile floors and has been thoughtfully designed. The living room and primary bedroom lead onto the spacious L-shaped covered balcony which is ideal for entertaining.

The modern kitchen was custom built by Luna and features quartz countertops and Bosch stainless steel appliances.

The primary suite has two spacious closets with built-in cabinetry. The beautifully renovated primary bathroom features marble floors and double vanity with granite countertops.

The second bedroom also has an en-suite bathroom, walk-in closet and its own private balcony.

The condominium has central air conditioning and hurricane impact windows throughout. The apartment could be available furnished.

The salt water pool has shared storage space for water sports equipment and a poolside cabana with kitchen facilities and a half bathroom for social gatherings and resident use. There are also three points of access from the pool area to the beach and sea beyond.

Conchrest has a full back-up generator, two elevators, security gate, assigned parking, and an on-site property manager. The building is also pet friendly.

This development is within walking distance of the Baha Mar Resort, amazing restaurants, and shopping. Conchrest is approximately a 20-minute car drive from the International Airport.