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.

Old Bahamian charm and an amazing investment opportunity combine together to make this property the perfect acquisition for a mixed use development.

Investment features include zoning residential and/or commercial with the ability to convert into many exciting possibilities. The government of The Bahamas has declared it a Heritage Property which makes it property tax exempt. In addition there is tax exemption on all building and renovation materials. An additional bonus comes with a tourist type business giving the developer/owner further tax exemption on furniture and fixtures.

Sunnyside is 150 years old with a classic colonial style, wrap around verandahs, generous gardens and the potential for fabulous harbour views.

Although in need of restoration, its location, charm and zoning/tax benefits makes this property a rare find.