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.

What could be better than walking outside in the morning while enjoying the coffee perks and jumping straight into the wonderful Bahamian blue ocean?

With 100 feet on the water, lot 5 block 39 is a huge lot of 19000 sq feet and an extraordinary location to build your home! It is also very close to the beach for a change of venue, the shallow water making it ideal for children playing and swimming.

Due to the beauty of the sea and land, Rainbow Bay has become a desirable location for those wanting a tranquil escape for themselves and their families. It can also provide a lucrative short-term rental.

Nearby are convenience stores and cafes, plus the Rainbow Inn for homemade pizza and fine dining. The nearest airport, Governors Harbour, has daily flights to Nassau and weekly to the US.