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.

Welcome to Apartment #203, a generously sized residence located in an exclusive 10-unit gated condominium, just a 5-minute walk from the shops, dining, and entertainment of vibrant Port Lucaya. This quiet, secure community offers the ideal blend of location and lifestyle.

Spread over three levels, the unit features a large open-concept living area and dedicated office space on the ground floor. The second floor offers two spacious bedrooms, each with its own ensuite bathroom, while the third level hosts a private third bedroom, also with an ensuite. There s also a convenient guest bathroom on the main floor.

Enjoy the outdoors from two private balconies with views of the Port Lucaya area and marina perfect for relaxing or entertaining.

Priced to sell, this condo offers a rare opportunity for customization. While it will need some updates and cosmetic work, it has been intentionally left as-is ready for you to renovate and make it your own coastal retreat.

Don t miss this chance to own a well-located, spacious condo with endless potential in one of Grand Bahama s most sought-after areas.