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.

Seize the opportunity to own a stunning beachfront parcel of land on the mesmerizing Sea of Abaco in the coveted Turtle Rocks area. Renowned for its abundance of baby turtles just a few feet from shore, this enchanting location offers a truly unique experience.

The choice homesite was fully landscaped in the past with lawns and a variety of mature palm trees which can be restored with minimal effort. The seller is generously including previously approved building plans, making it a breeze to renew the permit. The plans, meticulously crafted by a professional architect, present a thoughtfully designed 2,950 sq. ft. raised home with 3 bedrooms and 2.5 bathrooms. The layout maximizes the land's orientation to provide breathtaking views, refreshing breezes, ample privacy, and optimal natural light.

Just offshore, a small cay offers sheltered waters and serves as an ideal spot for exploration and paddling. The area's name, Turtle Rocks, pays homage to the fascinating marine life that frequents this location. Tranquility reigns supreme here, offering a serene sanctuary mere minutes away from the international airport, as well as a myriad of shopping, dining, and entertainment options in Marsh Harbour.

Over the years, the Turtle Rocks neighborhood has blossomed into a charming community, attracting both full-time residents and seasonal homeowners. Electricity connections are readily available, and the presence of wells ensures a reliable water supply for all homes in the area.

The renowned island of Abaco is easily accessible from the southeastern USA, with direct flights to major cities such as Miami, Charlotte, Atlanta, and more. This seamless accessibility further enhances the allure of this exceptional property, offering a gateway to a slice of paradise.