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.

0.62 acre lot has 101 ft. of sandy beach frontage and 100 ft. of roadway frontage. Lot is gently sloping with home site elevation 10 ft. Current access to this island is by boat only.

Great Harbour Cay is 2 miles to the South and provides an international airport, marina, and restaurants. The Northern portion of this island is for sale by a different seller and features a paved airstrip that could be re-opened.

There is only 1 other home on this private island at the present time, but permits have recently been issued for development of a small eco resort and additional vacation homes. Solar power is required. Seller has Certificate of Title and Title Insurance policy in-hand.

Additional waterfront lots are also available.