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.

Revel in luxury and opulence at this striking new condominium in The Bahamas. The residences at One Marina offer a whopping 3,251 sq. ft. of refined living space on one level, with designer finishes and thoughtful touches throughout.

The excellent flow of the space draws you to the outdoors and the spacious terrace overlooking the marina and turquoise ocean beyond. In total there are 3 bedrooms, 3 full bathrooms, a spacious great room, custom gourmet kitchen with luxurious Gaggenau appliances and marble counters, a large laundry room and a lovely powder room for guests. This unit is easily convertible to a 2 bedroom 2 bath and a 1 bedroom 1 bath.

Residents at One Marina enjoy full access to the array of amenities on offer at Palm Cay, including the beachfront clubhouse and restaurant, dockside café, fitness center, spa, member's lounge, tennis courts and beach club.

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