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.

These two cottages in the gorgeous Exumas are your opportunity to own a piece of paradise!

Fully enclosed, with mature fruit trees and featuring a 10,000 sq ft lot, there is lots of room for a for family and friends. The two-bedroom cottage is 896 sq. ft. (32x28) and the one-bedroom cottage is 576 sq. ft. (24x24). There is an additional foundation for a third cottage at 1,008 sq. ft. (28x36).

Approved plans are available for industrial, business or residential space. The property also features a large shed built for a workshop. Everything you could need and more for your home and income opportunity in beautiful Exuma.

The property has a few mature palms and native trees, space for gardening and outdoor seating, great for barbeques and enjoying the wonderful Exuma outdoors.

It has its own water source and is easily converted into an off grid self-sustainable site with the introduction of solar panels.

Nestled in a quiet area, enjoy this secluded oasis with quick access to Georgetown, Sandals and the beach.

Schedule an appointment to view today!