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 spacious 5-bedroom home, located in the eastern part of Nassau, Bahamas, offers both comfort and security. Sitting on a generous 10,000 sqft property, the home boasts 2,200 sqft of living space. Ideal for a family or those who love to entertain, it features a large living room, perfect for gatherings or relaxation. There are two well-equipped kitchens, allowing for flexibility in meal preparation or hosting guests.

The house includes 3 bathrooms, providing ample convenience for a large family. An office space adds functionality for those working from home. Security is a priority with hurricane shutters, bars on all windows and doors, and gated access to the property. Additionally, the house comes with a backup generator, ensuring peace of mind during power outages.

A 3-car parking space offers plenty of room for vehicles, while the expansive yard features mature fruit trees, adding a touch of nature to the home. With its combination of practical features, security, and outdoor space, this house is a perfect blend of comfort and safety in Nassau.