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.

Honeycomb 3F, Albany, designed by Bjarke Ingels Group, is truly an architectural masterpiece. This third-floor end unit with an abundance of natural light boasts an impressive 4,285 square feet with 4 bedrooms and 4 ½ bathrooms. Upon walking in you will be blown away by the open floor plan with luxurious Crema Botticino floors, a one-of-a-kind kitchen with quartz countertops and top-of-the-line Sub-Zero and Wolf appliances. The tastefully furnished living area benefits floor-to-ceiling windows that open to the breathtaking wraparound terrace overlooking the 71-slip state-of-the-art mega yacht marina and turquoise blue waters. The wraparound terrace is an entertainer's dream, with a full kitchen, plunge pool and large family table.

Albany is a 600-acre exclusive luxury community in Nassau, The Bahamas. Amenities include a championship golf course and clubhouse, mega yacht marina, equestrian facilities, adult and children's pools, theater, fitness center with lap pool and boxing ring, tennis and padel courts, an array of restaurants, full-service spa and salon, and Windsor School.

Take advantage of this great opportunity to own and play in one of the most exclusive luxury communities in the Bahamas.