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.

Lot 6, at the Ridge on Russell Creek (Coconut Plantation), is a pristine beachfront property close to Arthur's Town Airport at the northeastern tip of Cat Island, a fifty-mile long, three-mile-wide, outer island in the Bahamas. Lot 6 is for the sophisticated adventurer seeking serenity and exquisite beauty, with visible sunsets, two coral reefs an easy swim away, clear water, and soft white-to-pink sand.

Lot 6 is adjacent to the most recently developed lot on Russell Creek. Our neighbors' beautiful new house is the one shown in the photos - with solar driven central air-conditioning, electricity, and cable TV, and rainwater and septic driven plumbing is proof that being off the grid means freedom, that by supplying your own water and electricity you are not beholden to a government supplier, whose fees in Cat Island are very high. The Ridge on Russell Creek is still pristine. There is only one other cottage besides our neighbor which means you can walk on the beach in either direction for miles without being seen.

Aside from its physical beauty, what makes Cat Island special are the warm and friendly smiles from the descendants of cotton farmers, who are flattered you have chosen their beloved home. This gives Cat Island its distinctive character of happy people loving their unique unspoiled island, where you will dine on fresh lobster, grouper, conk, homegrown vegetables (including tomatoes always in season), home baked bread, and a grass-fed chicken whom you may have seen crossing the road.

There are no tall condominiums and only five family owned resorts on Cat Island, each with its own spin. Shana's Cove Resort and Pigeon Key Resort are the closest to the subject property. Tourists from the US and Europe come to visit, fall in love with the island and its beaches, buy land, and build a house. The subject property was bought by just such a tourist, who still visits Cat Island once or twice a year, but, due to changed financial circumstances, now wishes to sell. For the adventurer who cherishes beauty, lot number 6 is waiting for you. The photos include some of the areas in North Cat Island that show what the area is like.

Take advantage of this unique opportunity to own your island getaway!