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.

Rooms with a view! This 3-bed 3-bath hillside home plus 1-bed 1-bath guest cottage has a layout which optimizes views of the beautiful turquoise waters of the Sea of Abaco from every room.

Newly renovated throughout, this home is a must see!

The expansive deck overlooks the beautiful scenery of the sea and neighboring islands and cays, while it effortlessly wraps itself around the large signature Wild Tamarind tree that gives the almost one-acre property its namesake. The stairs from the deck lead down to the swimming pool and tropically landscaped yard. The pool deck also adjoins the guest cottage.

The home has approximately 2,470 square feet, and guest cottage just over 500 square feet.

This home is located on two side by side lots, but all development is on a single lot, so the second lot can be utilized separately or even remarketed. Standby generator for entire property and solar for the guest cottage rounds out the compliments.

Lucayos is a quiet seaside community on the island of Elbow Cay and is just a few short minutes from the historic settlement of Hope Town via golf cart with its famous candy-striped lighthouse marking the harbour entrance. Elbow Cay has miles of white sandy beaches to explore and snorkel from, and it's just beyond the reef, to truly world class fishing!

Contact us today to find out more about this one-of-a-kind opportunity!