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.

If you have been waiting for that perfect opportunity, here it is. This listing boasts 3 properties in the Pinehurst Subdivision immediately west of Bahama Palm Shores and just off of the Earnest Dean Highway. The first property is Lot 13 in Block 31, 5000 sq ft, and would be perfect for a small business or cozy cottage just 200' from the highway, making the electric connection a breeze. Steps away in Block 35, you will find 2 adjoining lots 99 and 100, at 10,000 sq ft, each offering endless possibilities for your dream home, business, or both. This area of Abaco has been gradually gaining popularity over the past few years, and now is the time to get in before it's too late.

Pinehurst is located just 25 minutes south of the Marsh Harbour International Airport.

Don't miss out on this amazing opportunity, call or email today.