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.

Spanish Cay is a unique proposition.

It is a world unto itself, and a world away from ordinary. Located halfway up the Abaco Cays Chain, a few miles due north of Coopers Town, 165 miles to West Palm Beach, or 40 miles from Marsh Harbour. The 3 mile long private island is Paradise defined beaches, diving, fishing, conching, relaxing.

Spanish Cay is a port of entry, so no need to clear customs anywhere else. The island has an 81 slip commercial marina, fuel sales and most importantly there is a 5,000 airstrip. All this combines to make this the ultimate secluded getaway. Easy convenience to South Florida by boat or plane together with utilities and communications all nestled within the middle of a tropical iridescent sea.

Lot 14 is a stunning beachfront parcel overlooking a quiet sandy lagoon, facing the east. The 20,403 sq. ft. lot with expansive 171 feet of beachfront is a perfect spot to build a dream escape. There are several private homes as well as vacation villas on the island, a full service restaurant and supply store. Services and supplies are easily available in nearby Coopers Town. The owner of this parcel loved and cherished the island, he just never found the time to really enjoy it and build his dream cottage.

Call today for more information about this enchanting corner of the Bahamas.