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.

Set on a the top of a hill, Lot 1 is one of the few lots available for sale in Norman's Cay at this time. The property is 16,692 square feet, or 0.383 acres and located right on the main road for easy access. It is also located directly on a water access right of way giving you everything you will need in a lot. Due to the great elevation of the lot it is likely that the home built there will have views of the sea and the northern lagoon.

Norman's Cay is a sought after community with a major luxury development being created on the island. The island is approximately 6.5 miles long and 1,000 feet at its widest point. Norman's Cay features a 4,700 sq. ft. runway with customs and immigration. There is a large protected marina that can host an entire range of boat sizes. In addition, there is a yacht club and restaurant being created in addition to McDuff's restaurant and cottages, a well known restaurant and bar.

The island is located at the northern end of the exquisite Exuma Cays. With a quick 20 minute flight from Nassau, you will find yourself feeling worlds away surrounded by indigo seas, white powdery beaches, and a seemingly endless array of islands and empty beaches to explore.

Due to the limited supply of property on the island, this lot will not last long.