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.

This is an excellent opportunity to own the tallest building on the island. Apartment building is 17 stories high with 64 units. Casa Bahama complex is situated in the heart of Freeport. The drive to the airport is about 5 minutes to the Airport and 10 minutes to the beach in the south. Property is adjacent to RND shopping centre, the International Bazaar and Royal Oasis Hotel which is under renovations by Harcourt Development. Casa Bahama was severely damaged by the hurricanes of 2004. There was some renovations begun but has since stalled. Presently, all units are vacant. Most of the units have had the doors and windows refitted with vinyl hurricane windows and doors as well as adding new patio railings. The building was refaced and repainted. There are 32 one bedroom units, and 32 two bedroom units each with a private balcony. One bedrooms are approximately 650 Sq. ft while the two bedrooms are approximately 1000 sq. ft. in size. Other amenities include a manager's office, pool and laundry facilities. The building sits on 2 acres of tourist commercial land and can be converted to a hotel, motel, timeshare resort, corporate center or medical facility. The building is to be sold fee simple, all units and land belong to one owner. You simply will not find a better location on Grand Bahama Island! Additional acres of Commercial property available.