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.

Sitting proudly atop a 120' plus ridge with approximately 80' of frontage on the Old Banks Road, this well constructed home is perfectly positioned to enjoy spectacular, double sided, ocean views that are unobstructed on the Atlantic side. There is also an endless supply of cool breeze providing incredible cross ventilation.

The estate encompasses an expansive 5 bed, 5 bath, spacious home spanning 2.63 acres and includes a semi-detached, 300 sq ft 1 bed, 1 bath guest apartment, and a pool. There is 5,700 total square footage under cover which includes 2,900 sq ft of living space under air, a 2,500 sq ft covered verandah, and a 300 sq ft garage. There is an additional 600 sq ft sun deck.

The property is a short drive from the centre of Governor's Harbour and stretches from the Old Banks Road to the Queen's Highway. Shops, restaurants, and the airport are all within easy reach.

With a full wraparound verandah, all modern conveniences, a chef's kitchen, cozy home bar, vaulted ceilings, pool, 27,000 gallon cistern with city water back up, water filtration system, solar water heater with a 120 gallon tank, and close proximity to Twin Coves Beach and Turtle Beach, residents and guests alike will enjoy everything this home has to offer.

Other noteworthy features include a porch and steps constructed out of native stone, concrete columns, balustrades and railings, concrete block construction, ceramic tiles throughout, 8' doors and sliding doors with 24' sliding doors on the Atlantic side and 12' sliding doors on the Caribbean side. All windows and doors are PGT Windguard hurricane resistant. There is also a shutter system for added protection for the sliding doors. Cement steps conveniently lead from the house to the Old Banks Road.

Dozens of mature fruit and coconut trees are spaced throughout the grounds, and there is plenty of space for a vegetable and herb garden, all with easy access to water bibs.

For boating enthusiasts there is an additional parking area with a rinse down station for a trailered boat.

Sale includes appliances. Furniture is negotiable.

This property is suitable for short term rentals, full time living, or a holiday home away from home. Investors looking to apply for permanent residency will find this home attractive.

Let me walk you through this exceptional property so that you can experience its captivating charm and find out how you can make this home yours. It's all about the views.