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.

Rum Cay is one of the best-kept secrets in The Bahamas"“home to historical ruins, vivid coral reefs, miles of white sand beaches, and thrilling surf. Just offshore, abundant marine life attracts fishermen, divers, and snorkelers worldwide with many rolling hills that rise to about 120 feet.

Lots # 26 is a beautiful and tranquil property located at Nesbitt Point on the southern coast of Rum Cay, the area known as W. Smith Tract N. This lot is a total of 39,420 sq. ft. or .9 of an acre, with 108 linear feet on the ocean / beach and a depth of approximately 365 feet.

Access via a beach road and the property is partially cleared. This area is approximately a 15 to 20 minute drive to Port Nelson and another 5 to the airport.

Selling for $149,000, this is an ideal spot for a vacation home with short term rental potential or family retreat.
Invest in your beachfront home today on peaceful and idyllic Rum Cay.