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.

'Warwick', is a 40 unit complex, surrounded by all the amenities Lucaya has to offer.

It is just across the street from the canal and one block away from Port Lucaya Market and Marina. Here you can expect to find exquisite cuisine from around the world, jewelry, fine wine, clothing, and entertainment. Resorts and a soon to re-open casino are in walking distance and also across the street is the Our Lucaya Golf Course.

The building has been vacant for over 2 years and does need some repair but its previous listing price of $3,900,000 leaves plenty of room for renovations and the potential to make a tremendous profit.

With Our Lucaya Hotel coming back on line, we anticipate that there will be a high demand for rental units in this area and this property could prove to be a great investment.

'Warwick' is comprised of three (3) buildings within the waterfront Bell Channel Bay subdivision. The complex sits on three lots comprising 1.53 acres total. The courtyard boasts ample parking, an elevated pool, and a gazebo. The buildings are gated. There are eight (8) two bedroom units, 22 one bedroom units and 10 deluxe studios, each with its very own private balcony.

This is a great opportunity to gain large returns on your investment. 'Warwick' is within the heart of Lucaya making it appealing for long term or short term rentals.

Make an appointment to view today!