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 multi-family property is an excellent opportunity as a commercial investment in a central location.

Featuring five bedrooms and six bathrooms, the traditional Bahamian home lies on the upper floor while a one-bedroom apartment and an efficiency are on the ground floor.

The home has been recently updated with modern flooring and is open and spacious with multiple large windows in the living, dining and kitchen areas. There is an ensuite primary bedroom, a shared bathroom and two other sizeable rooms.

On the exterior, a spacious patio leads to the rear of the property, boasting a newly resurfaced 30 ft pool with a concrete deck and the remaining bathrooms.

The property is located in Twynam, walking to distance to Mackey Street, Palmdale and Paradise Island and is a gateway to eastern New Providence. It is surrounded by a mixture of homes, offices, businesses and much more! Twynam is also a short drive to Downtown Nassau.

Ideally suited for the right investor!

Call for an appointment today.