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.

Only 500 feet, as the crow flies to the most lovely beach in Rainbow Bay, this newly built 3 bed 2 bath home is ready to become your Bahamas beach house.
Nestled among pretty native trees and bushes in Rainbow Hill Circle, facing what is known as the Caribbean side, with sea views, this comfortable and very well built property will also be a lucrative rental.
With an open plan kitchen/dining area and an adjacent sitting room facing the garden and ocean, this is a tranquil place for rest and relaxation. Sit on the porch and watch amazing sunsets. swim and snorkel before breakfast.
It has been tastefully painted and decorated with granite countertops throughout, solid wood furniture, quality utilities and solar backup.
A great location for exploring this magical island, Rainbow Bay has several beaches, a restaurant and tennis courts and is only a 15 minute drive to Governor's Harbour airport.