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 4 bed, 3.5 bath off-grid home includes a private deeded dock slip on Little Harbour. The 3 level home has a 1 bdrm apartment on the ground floor, 3 bdrms and 2 bthrms on the middle floor and the uppermost floor has the expansive living dining and kitchen with astounding ocean and harbour views. The lush native landscaping bursts with colour and the dock slip can accommodate a 30' vessel in all weather conditions. The home has easy maintenance tile floors and is sold fully furnished and turn key. Measuring 2,420 SF, the house also has over 2,000 SF of decks and balconies to enjoy the warm Bahama breezes. Tastefully finished with warm terra cotta floors, vinyl windows and doors and energy-efficient lighting.

The area is home to the world famous "Pete's Pub and Sculpture Gallery". Explore the sheltered beaches a few minutes walk or wade the nearby sand bars for shells. Within minutes are outdoor pursuits such as some of the world's best deep sea fishing and diving, fly fishing for bonefish and tarpon, braving the blue holes, kayak the untouched creeks or visit the candy striped lighthouse at Hope Town. Abaco Island is a wonderland for outdoor pursuits all just off the coast of Florida. The home has good rental history for ease of ownership. Utilities include 10,000 gallon water storage and a 48 volt, 4.5kw solar system with 20 new batteries. Seller Financing Available, click or call to discuss details. Call or click today.