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.

A new exquisite beachfront estate located within the private gates of The Abaco Club on Winding Bay. This generous 1.6-acre parcel offers 200 feet of beach frontage where you can build the private estate of your dreams. This estate is unique as it is protected by Sugar Cay and a reef that runs most of the length of Winding Bay. Ideally situated on the second crescent of Winding Bay's pristine 2 ½ mile beach therefore offering the best sunset views but close enough to enjoy Flippers Beach Bar and Grill or the new Beach House Restaurant. Currently under construction is the new Winding Bay Club and community pool including a 25-meter lap pool both scheduled for completion in the summer of 2024. Our world-class tropical links golf course has been rated the best in the Bahamas since it's inception. Other great amenities nearby include pickle ball, tennis, basketball, a full-service spa, fitness center, Cliff House pool and newly renovated Cliff House Restaurant (scheduled for completion for the holiday season) and an endless array of non-motorized water toys available on the beach. Coming shortly is a new bar and water sports center situated on the 5th green of the golf course next to the Tingum Taco Food Truck.