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 property is the perfect investment if you're looking for a modest, quiet, and relaxing retreat. Sweeting's Cay is located on the easternmost settlement of Grand Bahama Island. Sweeting's Cay is a patchwork of mangroves, flats, creeks, and lagoons.

This listing includes 13 lots, 10 of which are beachfront and 3 with beach access. This property is ideal for a small fishing lodge as Sweeting's Cay is located on hundreds of square miles of fishable flats on the Little Bahama Bank. If fishing isn't your thing, these bungalows are a great retreat from the hustle and bustle of life, with all the solitude of a private island.

Relax on the beach, kayak in the ocean, island hop to the numerous cays, or take your boat to nearby Thrift Harbour and snorkel the blue hole. Whatever your leisure, you can enjoy it here.