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.

Idyllic waterfront property on Harbour Island. There are endless opportunities for this 24,000 sq. ft. property to be used as a marina, villa, boutique vacation rental or other development, as so inclined.

The land presently includes a rental home with a full kitchen, dining room and spacious living room in addition to one (1) bedroom, one (1) bathroom and a powder room with a large patio overlooking the harbour.

There is also a 1 bedroom, 1 bathroom guest cottage with its own kitchen, dining room and separate laundry facilities.

An private garage, tool shed and large rainwater tank are located at the rear of the property.

Driftwood is fully enclosed with a wall and private main entrance and is surrounded by lush Bahamian landscaping for added privacy.

Harbour Island is famous for its gorgeous pink sand beaches, vibrant marine life and the 1797 Loyalist Cottage.

This could be your new address: Harbour Island, Eleuthera, The Bahamas.

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