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.

This is the ideal property for producing income. It sits on 1.3 acres and has two 2 bedroom villas with open floor plans. Each villa can be converted into a 1 bedroom villa and an efficiency, offering individual entrances. There is also a studio villa on the property. The villas are beautifully decorated with a tropical theme. The bedrooms in each unit have been furnished with locally customized furniture. Features on the property include each unit having a balcony overlooking the swimming pool, gardens and unobstructed views of the canal. All units are fully furnished with a beautiful coastal theme.

Next to the studio villa there is a Club House with a kitchen (equipment included) bar, restrooms, and balcony also overlooking the pool and canal. This is the ideal place for your guests to host gatherings too large for their unit to hold. There are two storage rooms attached to the Club House and additional space is underneath the building to store larger items.

This tropical paradise is a boater's dream because it is on the main Lucayan waterway which takes you to the northern or southern side of the island towards some great fishing grounds. The boat dock-age comes with a boat lift.

This property is perfect for short term vacation rentals, weekend retreats, small wedding receptions, or an intimate gathering. You must view this property to appreciate everything it has to offer.