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 oceanfront property (3500 sq. feet on .76 acres) is situated on a very wide bay with an expansive view of the ocean on South Andros Island, Bahamas. The two 2 story houses offer a variety of living options: spacious year-round homes for family & guests, a winter residence/retreat, a forever fly-fishing destination, or a rental income-producing property.

If you are considering possibilities beyond family living or vacation home, such as earning income from guests or long-term rentals, this is the place for you! In addition, this location is perfect for fly-fishing offering residence or lodging for the serious bone fishing enthusiast's friends and family. The property is situated on hard-to-find real estate with a very wide bay, offering enough depth for boat anchorage, shallow enough for bone fishing and wading, yet minutes from the Tongue of the Ocean for deep sea fishing and diving. It's rare to have access like this to the sea.

The first house offers 4 bedrooms, 2 full bathrooms, a full kitchen, and a dining area. The second floor main kitchen and living room is surrounded by windows offering plenty of natural light and 180-degree views. It has direct access to the porch that runs the length of the house -- the best place to privately relax seaside to view the sunrise, the bay's aquamarine waters, and the immense sand bar. The first floor has a sizable ensuite with kitchenette. It offers an interior entrance to the house as well as a private entrance to outside.

The second house offers upstairs and downstairs studio-like settings, each with private entrances. The upstairs has 2 bedrooms with 1 full bathroom, kitchen, and dining/ sitting area - perfect for extended family, guests, or long term rental. The first floor offers 1 bedroom, 1 full bathroom and kitchen/living area.

This is a no-frills place but very move-in ready for the new owner to reside comfortably, while making it their own. Supplied with large & small kitchen appliances, cooking & dinnerware; beds, linens & towels; dressers, couches, tables; ceiling fans; washing machine, an outdoor shower, and picnic table. There is also a large storage room that currently serves as a garage/workshop.

A 2003 Yamaha 100cc motorbike and household maintenance tools are also included. The property has a private driveway off the main paved road. Each house has a separate phone line and electric meter. Previous rental income can be furnished upon request. Type: 2 Two Story Houses Floor Area: Total 3,500 sq. ft. Property Size: 0.76-acre Bedrooms: 7 Bedrooms (2 have ensuite baths) 4 Full Bathrooms Storage; 1 Garage / 2 Sheds Year Built: 1981/1994 Features: Furnished / Ready for occupancy Apartment rental option Beach/Oceanfront Small boat access & bay anchorage