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.

This picturesque location has unparalleled ocean views. The hillside parcel has elevations up to 40 feet above sea level and has a generous 11,250 SF size. Enjoy mesmerizing views and safe elevations with cooling ocean breezes at your dreamy island paradise or build a vacation rental home for a return on investment. Located in tranquil Yellowwood just 30 minutes south of Marsh Harbour and 5 minutes away from both Cherokee Sound and Little Harbour with beach access to gorgeous Winding Bay beach just a 2 minute car ride away. Marsh Harbour Airport has direct international flights daily as well as multiple shipping options for materials and supplies. The town of Marsh Harbour has some of the best grocery and hardware shopping in the entire Bahamas.

The property has electricity and water supplies available for connection at the road and the wireless data infrastructure in this area is very good for communications. Call or email today so you don't miss this opportunity.