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 1.4 acre lot located on Stocking Island, which is adjacent to the main land of Great Exuma-George Town in the beautiful Exuma cays, is stunning!

This property has an elevation up to 65', assuring spectacular panoramic view of the Atlantic Ocean, beautiful Elizabeth Harbour and the mainland of Exuma.

With 113 feet of beach frontage on the Northern side of the island and 113 feet on the harbor side, where there is a protective beach cove and elevations up to 45 feet, this is truly a great deal. You have the best of both worlds with this property - one can snorkel the underwater rock pools, find amazing shells on the ocean side of the island or laze in a hammock under the Casuarina trees.