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.

Live the dream of waking up to the sight and sound of perfect surf on this elevated and lush tropical property on beautiful Guana Cay in Abaco, Bahamas, which also offers panoramic bay and sunset views to the west.

The property is part of the Ocean Ridge Estates subdivision with underground electricity already installed, and a shared community dock area located on the sheltered side of the island, a two-minute golf cart ride away.

The Cottage lot is approximately 77' x 100' and sits atop the ridge overlooking Baker's Bay Club, which is just a short drive to the gate.

This offering comes with a 40' dry boat slip at the extremely protected Boat Harbour on the Sea of Abaco, just a 2-minute golf cart ride from the property.

This oversized slip has electricity and can accommodate a boat lift to keep your vessel safely out of the water when not in use.

In addition, the inviting harbourside common area offers a beautiful gathering spot to relax or to stage your next fishing/boating trip.

A short stroll takes you to the pristine aqua blue waters and pink sand beaches of Guana Cay. Enjoy a day of snorkeling around the beautiful coral reefs, or perhaps deep sea fishing for that prize winning Blue Marlin.

Maybe a relaxing day of bone fishing on the flats is all you need.

Whatever your desires may be -- a dream retirement cottage, investment property or vacation get-away retreat -- your residential property at Ocean Ridge Estates will be the first step in making those dreams come true in this island paradise.

Your tranquil residential community features amenities such as:

* Underground Utilities
* Bay side private marina
* Bay side common area
* Ocean side common area
* Beautiful lighted entrance

This package deal truly has it all, and won't last long.

Call to make your appointment to view today!