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.

Elegant beachfront condo on the 4th floor with spectacular ocean and pool views. Situated in the most ideal location within the exclusive Bayroc community.

Enjoy the open plan living that leads out to the spacious, covered wrap around balcony, offering gorgeous views of the lushly tropical landscaped grounds, pool and turquoise waters. The balconies are always shaded and the views are breathtaking.

Bayroc is an exclusive gated community in the heart of Cable Beach. Within walking distance to the new Baha Mar Resort & Casino, golf courses, gourmet restaurants, food store and designer shops.

Amenities include a beautiful white sandy beach, tennis courts, swimming pools, fitness center, standby generator, 24 hr security and on site management.

This unit comes beautifully furnished and includes 2 assigned parking spaces, one of which is covered.

Call today to arrange a private viewing.