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.

Overlooking a beautiful sandy beach, this ground floor 2,400 sq ft. condominium offers open plan living, allowing for refreshing cross breezes and soft light to flow through every room.

The professional-grade kitchen is fully equipped, and it was renovated in 2021 with a walk-in pantry. Out front, there is an expansive patio space for al fresco dining and relaxing, which is a few steps down to the pool and beach. Inside, it has 10-foot ceilings and three bedrooms with en-suite bathrooms. The expansive beachfront master suite is complete with floor-to-ceiling windows, a large walk-in closet, and a Jacuzzi bathtub. This home also features two central air-conditioners, hurricane-impact windows, a laundry room, and a 2-car garage. It is being sold fully furnished, other than paintings and personal items, and it includes 2 paddle boards.

The gated community of Eves of Cable Beach is situated on the popular Cable Beach strip, however, with only six spacious beachfront condos and four residences, the community has an exclusive, secluded feel. The residence's perks include a full backup generator, swimming pool, and private beach access, all in close proximity to The Baha Mar Resort, Nassau International Airport, and Cable Beach shopping and dining.

A must-see if you want to be in the heart of Cable Beach!