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.

Located in a quiet community on a 13,000 square foot lot, this attractive 4,500 square foot home in the upscale community of Skyline Lakes in the Lake Cunningham area was built to last and is ideal for a large family or an executive lifestyle.

Featuring five bedrooms and four and a half bathrooms, which includes a large master suite, the traditional styled home has a private pool area in a spacious enclosed garden that is ideal for entertaining family and guests. The substantial kitchen with an island and stainless steel appliances opens to a breakfast nook and offers ample space for cooking and informal entertaining.

There is an expansive living room and family room and a two car enclosed garage which can easily be enclosed to add to the breakfast nook area. Large central air conditioning units are provided for each of the two floors

A separate 576 sq. ft. building with private access can be converted into a two-storey guest cottage or an efficiency and is ideal for rentals or for out of town guests.

The attractive garden with a variety of fruit trees has two wells which can supply the house and the pool. City water is also available.

The property is located in Cable Beach, a stone's throw away from Lake Cunningham, the new Baha Mar Resort, fine restaurants, shopping, hotels, the beach, the new Imax Theatre and the international airport.


Please call to schedule an appointment.