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.

Experience the epitome of waterfront living in this beautiful 3-bedroom, 2.5-bathroom unit at One Marina, located in the exclusive gated community of Palm Cay on the eastern end of New Providence. This home seamlessly blends luxury with comfort, featuring a state-of-the-art kitchen and an open living area that overlooks a newly built canal. Here, each day begins with stunning views of sunrises, and ends with breathtaking sunsets on Palm Cay's private beach.

The modern kitchen in this exclusive unit is perfect for culinary enthusiasts, while the spacious living areas and serene bedrooms offer panoramic water views, inviting relaxation at every turn. Step outside to enjoy Palm Cay's ample amenities, including tennis and pickleball courts, private pools, and the exquisite Pink Octopus Restaurant.

This property is more than a home"'it's a lifestyle. Make it yours and embrace the tranquility and beauty of Palm Cay.