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 Sterling Commons on Paradise Island, where luxury meets island living. This new 2-bedroom, 2-bathroom penthouse offers a contemporary and elegant experience with potential income and tax exemption.

Enjoy the modern design, high-end appliances, and stunning views from the private balcony. Join the rental management for income generation and maximize your investment. Explore the state-of-the-art marina and nearby amenities, including a fitness center and onsite restaurant.

Paradise Island's beauty and landmarks such as Atlantis Resort, Atlantis Marina Village, Four Seasons Ocean Club, Ocean Club Golf Course, and Sivananda Ashram Yoga Retreat are just moments away. Own this extraordinary condo and live the lifestyle you've always dreamed of. Contact us to schedule your private tour today.

55' Dock Slip also available for purchase. Please inquire for details.