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.

Prime development property located on Charles Chillingsworth Court in the sought-after Bahamia North area, directly adjoining the 16th green of the golf course. This property offers a rare opportunity for a small gated community or luxury condominium project in one of Freeport's most desirable residential neighborhoods.

Situated minutes away from beautiful beaches, the airport, top resorts, and downtown Freeport, this location provides both convenience and tranquility. Residents will enjoy direct golf course frontage with serene fairway views while being close to shopping, dining, and entertainment options.

The site features easy access via paved roads with utilities, making it ideal for immediate development. Whether you are looking to create an upscale condo project or a boutique gated enclave, this Bahamia North property offers exceptional potential in a prime golf course setting. Lots 1 & 3 are also available for sale.

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