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.

Chic and tropical, Mooncliffs is a delightful, newly renovated, property located on 2 lots, facing the stunning azure waters of the Bahamas, ensuring beauty and tranquillity for its inhabitants and due to the elevation, having direct and unimpeded views of the ocean.

Bright and airy with high wooden ceilings, the main cottage consists of one bedroom, a kitchen plus utility area, a sitting/dining area- all facing the ocean- and an office and a bathroom facing the beautifully landscaped and colorful garden full of an array of tropical plants. It perfectly epitomizes island life. Sit on the outside patio and watch the dawn over the ocean.

The second structure, Little Mooncliffs, consists of a garage and a pretty, apartment with one bedroom facing the ocean with a kitchenette and bathroom, ensuring privacy for a guest. It can also be rented separately. Little Mooncliffs is also bright and airy with high wooden ceilings but both dwellings have air conditioning for warm summer nights. there are several beaches very close by.

Close to the Governors Harbour airport, this charming property is in a very quiet location in Rainbow Bay, but there are shops, cafes, and restaurants close by. It is perfect for exploring this magical island, or simply to relax and catch oneself!