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.

This multi-family/commercial waterfront lot is ideally located on the shore of Lake Cunningham within walking distance of the Baha Mar Resort, IMAX theatre, MacFit360 Gym and Fitness Centre!

Featuring 20,370 sq ft, it is adequate to be developed into a sizeable income-generating residential or commercial property with roughly 112' on the waterfront.

A proposed Tabeet mixed-use complex is also expected in the immediate area in the near future.

The property is also easily accessible from the JFK highway, Cable Beach and Gladstone Roads and is a 7 minute drive to the international airport.

Drive by today and place your offer!