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 situated in the southern Bahamas and known as the jewel of the Bahamas. It was the second Island in The Bahamas that Columbus discovered, calling it Santa Maria de la Concepción.

The Island later acquired its modern name from a ship wrecked cargo of rum and the history dates back to the Lucayan Indians before the discovery by the Spaniards. In the north, there is a cave containing Lucayan drawings and carvings along with various artifacts.

With many rolling hills and elevations that rise to up to about 120 feet, the main settlement is Port Nelson only 3 miles away from the airport with a 5,000-foot government-issue runway and charter flight services from Nassau, Long Island and Fort Lauderdale.

Rum Cay has a reliable electricity and water supply. Locals and visitors to the island enjoy its quaint but vibrant nightlife and various daily activities, namely, diving, wreck diving, fishing, boating, kite sailing, wind-surfing, the shark show at the marina and beach combing.

Signal Point is conveniently located a little over 1 mile from Port Nelson showcasing some of the highest elevations on the island. Lot 4 & 5 total almost 1.4 acres with 500 feet of beachfront and breath taking views of the sea and boats coming into the nearby deep water harbor as well as protection from hurricane surges.

This a prime location to build your dream vacation home!

Call me for more information today.