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.

Enjoy amazing direct ocean views from this lovely 2 bedroom 2.5 townhouse style condominium on one of Grand Bahama's prettiest beaches.

Situated on the 2nd level of the building, the condo is townhouse style with upstairs and downstairs. The lower level features tiled floors, full bath, galley style kitchen, open living and dining area and spacious balcony with direct ocean views.

Upstairs is carpeted and boasts large picture windows with amazing views from the master bedroom. Master and Guest Bedroom each have en suite full bathrooms. The units are offered fully and comfortably furnished.

Cannes Village is located adjacent to Island Seas resort and just a few minutes drive to Port Lucaya, restaurants, shopping, airport and casino.

Condo fees are approximately $500 per month and include hurricane insurance, pool, grounds, building maintenance, and water. There are no restrictions on rentals and many owners enjoy renting their units out on a weekly and monthly basis. Weekly rental rates start at $1400 per week.

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