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.

Discover the epitome of modern luxury in this recently constructed residence, nestled within the prestigious gated haven of Sandyport. Immerse yourself in a lifestyle of unparalleled convenience and recreation, as Sandyport offers an array of amenities including 5 plus tennis courts, pools, lush parks, and a marina, all safeguarded by 24-hour security.

Ideally situated in close proximity to Cable Beach, Bahamar, pristine sandy shores, the International airport and the downtown area, this location redefines the concept of accessible island living.

Step inside to unveil a thoughtfully designed layout that encompasses four spacious bedrooms and four elegantly appointed bathrooms. The heart of the home welcomes you with an open-concept design that seamlessly connects the well-equipped kitchen, inviting dining area, and spacious living room a haven for relaxation or entertainment.

Beyond the walls, an enchanting backyard oasis beckons, perfect for indulging in outdoor pursuits or hosting memorable gatherings. This canalfront abode caters to avid boaters, ensuring effortless access to the glistening waterways.

Experience the allure of waterfront living combined with a wealth of community amenities, all within the secure embrace of Sandyport's gated tranquility. Welcome home to a residence that encapsulates the essence of elevated living in one of Nassau's most sought-after destinations.