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.

Introducing Sterling Commons, Paradise Landing, where luxury living meets unparalleled convenience. This contemporary 1 bedroom, 1 bathroom penthouse suite offers breathtaking views of the Hurricane Hole Superyacht Marina and Nassau Harbour, providing a picturesque backdrop to your everyday life.

Step into this tastefully furnished condo located on the third floor, where exquisite design and top-notch quality are evident at every turn. The high-end appliances and quartz countertops in the kitchen make cooking a joy, while the central air conditioning ensures year-round comfort. With laundry facilities conveniently available, keeping up with daily chores is a breeze. The hurricane-rated doors not only provide peace of mind but also lead to a spacious private balcony, allowing you to soak in the captivating surroundings.

One of the standout features of Sterling Commons is the exceptional range of amenities designed to elevate your living experience. Stay active and maintain your fitness routine at the state-of-the-art gym, equipped with top-of-the-line equipment. After a workout, treat yourself to a well-deserved meal or a refreshing drink at the poolside restaurant and bar, conveniently located within the complex. Enjoy the convenience of having world-class dining options just steps away from your doorstep.

But the allure of Paradise Island extends beyond the confines of Sterling Commons. Here, you'll find a tropical paradise with white sand beaches and crystal-blue waters beckoning you to explore. Immerse yourself in the renowned attractions, including The Atlantis, Atlantis Marina Village, Four Seasons Ocean Club, Ocean Club Golf Course, and Sivananda Ashram Yoga Retreat, all just a stone's throw away.

As an owner at Sterling Commons, Paradise Landing, you have the exclusive opportunity to join the prestigious Ocean Club on Paradise Island. Membership grants you access to the world-renowned 18-hole golf course, clubhouse, and the Beach & Tennis Club.

If you're considering Sterling Commons as an investment, you'll be pleased to know that the rental program and management service can help maximize your returns. By entering your condo into the rental program, you can generate income throughout the year when you're not occupying it. The high demand for luxury accommodations on Paradise Island makes it an enticing opportunity. What's more, properties in the rental pool enjoy exemption from property tax, making it an even more lucrative prospect.

Don't miss this chance to own a piece of paradise in the heart of Paradise Island. Schedule a viewing today and start living your dream lifestyle at Sterling Commons, Paradise Landing.