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.

Port New Providence is a family boating community located in the east, resembling the peacefulness of a Family Island. It is a launching point for the quickest and most direct boating routes to Rose Island, the Exumas and Southern Islands featuring 24-hour gated and manned security with 4 miles of ample recreational space for activities such as biking, walking, running, and skateboarding. Other amenities include a private beach for ocean sports, 3 clay tennis courts, a beachfront clubhouse, children's playground, basketball court and marina.

#24 is a spacious 5-bedroom, 4.5-bathroom family home renovated meticulously in 2022. The residence spans 3,970 sq. ft. under air and approximately 5,770 sq. ft. with wraparound porches. It includes a 45 ft. wooden dock, a 30 ft. floating dock, and 141 ft. of linear canal frontage. The property offers good hurricane protection for watercraft, with a new mooring 20ft deep I-beam equipped with 50/30-amp electric at the dock with water.
The ground floor features a spacious entryway leading to a large open concept kitchen, custom designed with quartz countertops and top of the line appliances. There are 4 ensuite bedrooms with new walk-in showers, vanities and an updated laundry room. A 2-car underground garage is ideal for extra storage and equipped with a 3-phase 45K full backup generator and electric car hookup.

The expansive master bedroom suite occupies the entire second floor and boasts stunning water views from its covered balcony. The bathroom showcases a new vanity with a quartz top, a walk-in shower and a garden-style bathtub. A spacious dressing room with ample closet space also features a second updated laundry room.

Exterior updates include new hurricane impact windows, doors, screens, and shutters. The attic has been insulated with expandable foam with a new 5-ton A/C system for the main floor, and additional 5-ton A/C systems for the master suite and garage. Each downstairs bedroom suite has been outfitted with new 12,000 BTU mini splits.