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.

A one-of-a-kind contemporary masterpiece set on a beautifully elevated beachfront property on Paradise Island. With super clean lines and engineered to perfection, there is no other house like this in the Ocean Club Estates.

The main house is set on four levels with three floors of living space, a full drive-in basement level complete with a wine cooler, loads of storage, and state-of-the-art systems in duplicate that run the home and ensure all the necessities for luxury living are available at all times.

The main level includes a Great Room that flows out onto the pool terrace with views to the beach and Atlantic beyond. To the west of the Great Room is a state-of-the-art European kitchen with stainless steel worktops, top-of-the-line appliances, and a huge floor-to-ceiling window with breathtaking views. To the west of the Great Room is a family room and bar with a second glass stairway leading to the second and third floors, backed by an amazing wall of glass. Off the family room is a kid's play area complete with a giant home theater and black-out blinds to complete the cinema experience.

On the second floor, there are four ensuite bedrooms, with the master having vaulted ceilings and impressive windows that maximize the beach and ocean views. On the ocean side, there is a large balcony with glass verandahs extending the entire length of the home. The attic level offers a full yoga/dance studio as well as ample storage and provides easy access to the home's systems.

The basement runs the full length of the home and offers a walk-in wine cooler, staff apartment, ample room for a car collection, and loads of workspace for any hobbies or storage needs. There is no other home in The Bahamas that offers a space like the basement level of this home.

The grounds of 3 Ocean Club Estates are filled with lush palms and foliage, creating a green oasis around the home. On the south side is an outdoor entertainment area with a spa tub, gas fire, and large-screen TV. Also on the grounds is a three-bed, two-storey guest house with a fully equipped kitchen.

There is no other home in The Bahamas that offers anything comparable to this state-of-the-art contemporary showpiece. This home simply must be seen.