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.

Refurbished 4 bedroom houseboat in Nassau Harbour with owner financing!

This interesting 4 bedroom 3 bathroom houseboat was built 30 years ago in Florida and towed to Nassau for a local resident.

This great opportunity will make for a fantastic bar or restaurant with all its open terraces and great seating areas!

The owner is motivated to sell and will finance a significant portion of the purchase if there are guarantees in place.

It is now just finishing a refurbishment and modernisation program that allows the new owner to decorate and furnish to their own taste.

Built on two levels, the floors have all been relaid with pine with modern windows and doors (screened) fitted.

With an overall area in excess of 2,500 sq. ft. and additional large entertainment patios and roof garden, the houseboat Full Circle lends itself to be used as a comfortable house, modern office or restaurant and bar, or just a good rental investment, amongst many other possibilities.

There are 168 individual compartments under the flooring, which have all been inspected and tested, and where necessary the fibreglass has been replaced to ensure that the boat is waterproof.

There is also a passive waste water processing system using 4 on board septic tanks which require little to no maintenance.

Conveniently moored at Nassau Yacht Haven, a central area of down town Nassau with nearby restaurants bars and shops, the new owner can strike a good rental arrangement with the Marina owners or move her to another location in the Bahamas (such as The Exumas) where holiday rental prices will make a great return.

There are no engines.

Come and see for yourself how this property on the water can work for you!