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 lovely ground unit, 2 bed 2 bath is found in the gated community of Club Nautica on Bell Channel Road. This unit is sold unfurnished with a 30' dock slip and found in the Bell Channel Bay waterfront community on Bell Channel Road. A deep bay sits in front of the unit with quick and easy access to the Bell Channel ocean outlet. Clear Bahamian Customs at Port Lucaya Marina, then motor to your condo, less than 5 minutes away- can't get much easier than that. You are within walking distance of the food and entertainment centre of Port Lucaya Marketplace, the beach and even Wendy's. Grocery stores , liquor stores and coffee shops are within 2 miles. Dockage available to purchase separately. Call Catherine to arrange a viewing