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.

Nestled in the gated community of Nautica this three-bedroom, two-and-half bath townhome comes furnished and includes a full backup generator.

An airy open concept dining and living room adjoin into a bonus sun room overlooking the back porch and lake. The kitchen is fully equipped and has a breakfast bar.

Upstairs there is the master bedroom with en-suite bathroom and large closet. The master bedroom benefits from being spacious, having vaulted ceilings and large window. The en-suite bathroom has double sinks, separate tub and shower. The other two other bedrooms share a bathroom.

Attached to the house is a large automatic one car garage with an additional assigned parking spot outside. This unit has ample storage space and a separate laundry room.

Nautica benefits from communal pools, playground and landscaped green spaces. The development is also conveniently located between downtown Nassau and Cable Beach with a large range of restaurants and shopping.