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.

An acre of oceanfront living awaits your personal touch. Imagine walking out of your front door to 250' of glorious private beach. Enjoy cool relaxing ocean breezes, or the sea bird songs or be amused by a cacophony of native Abaco Parrots when they forage the trees in the early mornings.

Electricity supply is available for connection via underground high voltage cable. Water supply will be by well. Bahama Palm Shores is a lovely, quiet, family oriented neighborhood located just 30 minutes south of Marsh Harbour and the Leonard Thompson International Airport, schools, grocery and hardware stores, dining and business centre.

The area is growing as a vacation rental destination with several rental homes on the market in the area. There are no specific restrictions on the property.

Multiple dwellings and outbuildings could be built to suit many different flexible options. Abaco takes pride in the quality of the workmanship of home construction which harkens back to the days of boat building. There are several experienced contractors and architects to work with and there is are many new builds ongoing around South Abaco.

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