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.

Lot Q1 is a beautiful protected waterfront lot with 174 ft on the Sea of Abaco with nice elevations and superb views. It is located very near the private Scotland Cay Marina and private airstrip.

Scotland Cay is a private island accessible to owners and their guests only. The island has 2 private marinas and a private paved 3,000' airstrip. Marina slips and airport landing rights must be purchased from the developer.

Scotland Cay is a destination of private homes which has been well established for years, full of friendly neighbors who are all seasonal residents. Hop over to nearby cays for a round of golf or fine dining, which is a 5 minute boat ride away. World class fishing, sailing, and diving are at your doorstep!

Contact us today for more info!