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.

Exuding luxury and fine island living in The Bahamas, this contemporary canal front home and cottage, in the affluent, private community of Old Fort Bay embraces traditional architecture amongst lush, tropical landscaping.

Encompassing six (6) ensuite bedrooms, one (1) half bathroom, 120ft of canal frontage, a 20ft dock and a pool on 14,800 sq. ft., 4 Sea Island is a captivating beauty.

Recently renovated, the interior spans more than 8,500 sq. ft. of carefully planned living areas with tall ceilings, beachy tones, and an abundance of light through large, impact-resistant, doors and windows.

Double doors on the front patio open to the spacious ocean-coloured foyer on the ground floor, here a Grand piano awaits, illuminated by warm light under custom wicker shades. Seamlessly, the room flows into the spacious living room with custom shelving and views of the canal beyond. The dining room is open-planned with a smooth 10-seater table.

Create masterpieces in the gourmet kitchen amongst white granite countertops, Bosch stainless steel appliances, custom floor to ceiling cabinetry a large double-door hidden refrigerator, open shelves and a calming teal backsplash.

Upstairs, the four en-suite bedrooms continue with high ceilings and neutral palettes, large walk-in closets and modern bathrooms.

The master bedroom is the larger portion of the second floor and showcases his and her walk-in closets along with an enormous rain shower, double sinks on granite and floor-to-ceiling sand-colored tiles in the bathroom.

The adjacent two-storey cottage has one (1) bedroom and one (1) bathroom as well as a roomy home office with geometric accents, a bold black accent wall, a kitchenette, half bathroom and double doors facing the pool and canal.

On the exterior enjoy the tropical outdoors, well-maintained gardens and the traditional wrap-around covered patio. Dine al fresco under tall coconut trees overlooking the canal and the 20ft dock.

Effortlessly showcasing modern comfort in a neighbourhood of flourishing gardens and multi-million dollar homes, 4 Sea Island is ideal for maximizing your elegant lifestyle in The Bahamas while staying in touch and in close proximity to North America.

Nearby are fine dining, shopping and entertainment, private schools and the international airport.

Call for an appointment.