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.

Situated in the desirable Surrey Bay subdivision and boasting superb water views, this estate sized property is perfect for your future home or condominium complex.

Tucked on an inlet just off of the famed Lucayan Waterway near the Casaurina Bridge, enjoy quick and direct access to the north and south of Grand Bahama Island.

Boasting over 168 feet of sturdy concrete sea wall and 35,000 sq. feet, this lot features spectacular views of wide, clear, and deep canal waters.

The property's zoning is multi-family hi-rise permitting construction of an apartment building, condominium complex or estate size home.

Full utilities are in place and the lot is elevated and level.

Owner is motivated. Call today!