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.

Don't miss out on this exceptional opportunity! Nestled on the tranquil road of Panorama, this gem awaits your personal touch. With breathtaking sunsets and mesmerizing views of the Caribbean side of the island, this beautiful property promises an idyllic lifestyle.
Here's what makes this property truly special: Completed Foundation: The compact fill foundation is already in place, complete with electrical and plumbing roughing. You can start building your dream home right away. Government-Approved Plans: Included in the sale are the government-approved architectural plans. Customize them to your preferences and create a space that reflects your vision.
Lasting Value: Rainbow Bay is a thriving community, and any investment here ensures lasting value. Whether you're looking for a permanent residence or a vacation getaway, this location has it all.
Community Amenities: Rainbow Bay offers a host of amenities, including a community tennis court, grocery store, beach sites, and a boat ramp. The happy community vibe makes it an ideal place to call home. Strategic Location: Situated near the Governor's Harbour airport, shipping venues, and the main township of Governors Harbour, convenience is at your doorstep.
Make this your new reality! Contact us now to schedule a showing and turn this opportunity into your dream home.