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.

2.1 acres of sea-to-sea waterfront with excellent elevations and over 160 feet frontage on each shore near the North end of Tilloo Cay and overlooking a tranquil cove, this property is very close to Tilloo Cut with easy access to the ocean for deep sea fishing and surfing.

This area is also nearby world class Bone Fishing to the south and great snorkeling and diving like Sandy Cay National Underwater Park and Foul Cay.

Location, Location, Location and Tilloo Cay has it! It is private, but very close to all the action in Hope Town, Guana Cay, White Sound, Lubbers Cay, Little Harbour, and Marsh Harbour.

The property has a 300 sq. ft. storage building and the foundations of cottages. The two docks will also need to be rebuilt. Contact us today!