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.

Incredible ocean and beachfront elevated peninsula with dramatic 270 degree beach, coastline and ocean views. This one-of-a-kind property consists of over 2 acres on the eastern shore of Eleuthera, near James Cistern and due east of the northern tip of the Governor's Harbour airport runway. The property is accessible by an old road that leads out to a protected and beautiful crescent shaped bay, of which the southern 200' beachfront is a part of this property. The main portion of the property consists of a rocky peninsula with elevations of up to 25', a suitable and safe site for your dream oceanfront residence. The views from this peninsula are nothing short of spectacular, with dazzling hues of turquoise and aquamarine all around. To the west of the property and connected to it is a long protected crescent shaped beach, the southern portion of which is usually very calm and perfect for swimming. To the south of the property is another oceanfront beach, great for walks and beachcombing. Note that there are no utilities in place at this property; these would have to be brought in from the main road, or an off-the-grid solution would be ideal -- the price for the property is reflective of this. Don't miss this opportunity to secure this unique property, the perfect location for your own truly private oceanfront estate.