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.

The views from Cliff House are exceptional to say the least. As its name implies, it sits high on the cliff on Lubber's Quarters southeastern shore, taking in panoramic views of the Sea of Abaco, including Tilloo Cut and Tahiti Beach, which is a famous boater's beach stop, and the south end of nearby Elbow Cay.

Cliff House offers 3 bedrooms and 2 bathrooms on its 1,500 square foot main living level with open living and kitchen areas taking in the views past the covered porches and the relaxing pool deck.

The lower level features a partially renovated apartment still needing completion with an additional bedroom, bathroom, and full kitchen with approximate area of 760 square feet.

Additionally, there are floor-to-ceiling hurricane impact sliding glass doors which allow lots of sunlight and cool ocean breezes. Cliff House is the ideal island escape. Travel to and from Lubbers Quarters is by private boat or ferry, and the home is accessed by private dock on the bay right out front or by deeded dock #15 in nearby marina and a short drive by golf cart to the home where a covered attached 480 square foot garage awaits.

Contact us today for more information.