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.

Hideaway Bahamas at Bassett Cove is one of the best-kept secrets of Grand Bahama and offers a residential lifestyle in the timeless environment of a Bahamian island paradise. It is a development nicely secluded in Bevans Town, Grand Bahama Island.

The original plans for this development included a mixture of Bahamian-style homes set among coconut palms and bougainvillea. Model homes ranged from 1,350 square feet, 2 bedroom, 2 bathroom homes to 2,100 square feet, 3 bedroom, 2 bathroom homes. Hideaway at Bassett Cove was destined to become the premier residential hideaway in the region.

After the ravages of both Matthew and Dorian, the existing buildings were left in disrepair, and plans for further development were put on hold. The property has great potential for similar or other development boasting acres in size and total access to one of the most beautiful sandy beaches on the island, proximity to the Airport, Shopping, Restaurant, and much more.

This development is priced to sell and will not be on the market long. You don't want to miss out on this once-in-a-lifetime opportunity, so give us a call today!