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.

Located in the family community of Casuarina Point with a substantial concrete sea wall and steps already in place, this coveted location is perfect for the avid angler or a family that loves spending theirs days on the water.

A level and graded 1/4 acre lot with 124' on canal front is ready to build your island dream home where you can have 360 degree views with a second story construction.

Casuarina Point is approximately 25 minutes away from Marsh Harbour where you will find the Marsh Harbour International Airport, shopping, dining, schools and entertainment.

It is also located just minutes away from Little Harbour and world famous Pete's Pub and Gallery. All utilities are to the property as well as cable, with the added convenience of weekly trash collection.

Call to set up a viewing of this spectacular waterfront property.