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 very generously sized homesite is located across the road from the community beach park of Jacks Jungle.

Jacks Jungle is a naturalist's ideal location. The flora is varied with beautiful native hard wood trees including Mahogany, Horseflesh, Dilly, Five Finger and many more. Some of the trees which survived the recent storm are over 40 feet tall.

The beautiful natural vegetation means it is also a spectacular spot for birders. The community beach cove offers pristine seclusion overlooking the charming "Lubbers Sand Bank'. A home built at this location would be assured of wonderful sea views spotting baby turtles and rays cruising along the shallow water shore.

The property includes a deeded private dock slip on the sheltered side of the island which enables easy access to the amenities of Hope Town and Marsh Harbour. The dock can accommodate vessels up to 30 feet with a draft of 3 feet. The topography is gently sloping which lends well to creating a charming natural landscape around the dreamy island cottage. Relaxed restrictions on building are intended to maintain the natural landscape but allow latitude to build a home to your taste.

There is underground electricity lines and transformers are ready to connect, while a home built on Lubbers Quarters Cay will need a water storage tank with rain gutters or RO System. Wireless communications work very well allowing streaming on multiple devices.

Here you can be miles away from ordinary while being easily but virtually connected to home and work. Hope Town and Marsh Harbour both have great dining and shopping options while Marsh Harbour is the centre of commerce and governance for all of Abaco.

Lubbers Quarters Cay does not have regular ferry service, therefore it is necessary to have your own boat or make arrangements for charter ferry services as needed from one of the many local ferry and charter boat companies.

Call today to find out more about this perfect slice of paradise.