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.

This one-storey, three-bedroom, three-and-a-half-bathroom home is a great opportunity to get onto the highly sought-after canals of Lyford Cay.

Well located in the center of the community along Lyford Cay Drive, this home is conveniently located near the school and club. It is set on 0.4 acres, and the house is 2,408 square feet with 90.43 feet of linear canal frontage.

Upon entering the property, one is greeted by a spacious open-plan living and dining area that overlooks and opens onto a large patio with roll-down shutters for indoor-outdoor entertaining. The home has a full kitchen located off the dining area and benefits from its own service entrance.

Of the three en-suite bedrooms, two of the bedroom suites overlook and open onto the lush garden or pool area. Outside the lawn takes you down to the dock that overlooks a wide section of the canal and has a pretty vista benefiting from sunsets in the summer. The house is also surrounded by lush greenery to provide privacy.

In addition, there is a garage with laundry facilities inside as well as ample parking for visitors in the driveway. The property benefits from a full back-up generator and well that is shared with the house next door.

Lyford Cay is home to the prestigious Lyford Cay Club, renowned for its beautiful beaches, golf course, marina, tennis courts, pool, fitness center, restaurants and beauty salon, offering an unparalleled lifestyle.