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.

The beaches in East End are among Grand Bahama's hidden treasures. The property consists of an extraordinarily wide beach, a fantastic bay to the east and spectacular and phenomenal views. The shoreline and beach frontage exceeds 6,000 feet.

This large acreage is a rare opportunity for a seasoned developer to acquire one of Grand Bahama's few remaining spectacular properties that is ideally suited for a world-class resort destination that would include residential home sites, hotels and condos.

The property is situated 35 miles east of Freeport and Grand Bahama International Airport.

3 miles east of this property is the quaint settlement of Pelican Point and west of the property is the South Riding Point Holding and High Rock. Pelican Point boasts some of the best bonefishing in the East and is home to the Coconut Fest. McClean's Town which is the most easterly community on the island is about 15 minutes away from this property. McClean's Town is famous for the Conch Cracking Contest and is minutes away from the Abacos by boat. East End boasts some of the best diving and fishing waters on the island of Grand Bahama.

The 50 acre Lucaya National Park is about 15 minutes away from this acreage.

Electricity, cable and phone service are existing at all settlements in the East.

Grand Bahama is one of the prime locations in the Bahamas for major economic expansion. The property is zoned as Open zoning.

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