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.

Rare Investment Opportunity

The Sandpiper Condominiums are Comprised of two buildings with a total of 11 apartments, and 6 garages The Condominiums offer a fantastic opportunity for current and Future Investment.
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The smaller building holds 2 two bedroom apartments and 6 garages The larger building, offers 6 two bedroom apartments, 2 one bedroom apartments, and 1 three bedroom and Den penthouse apartment. The two buildings were completely renovated in 2017 and are built to last with concrete exterior walls as well as concrete interior floor plates. The roof area is a combination of flat Truss Roof and Metal clad, The exterior finish has additional protection with an exterior Hardi Board Siding protecting the concrete walls from the Tropical Elements. The renovation included complete removal of all old Cast Iron pipes and electrical and replaced with material to meet today's current building code along with a new meter room. All old Sheetrock were removed and replaced with new.
The building has no old components remaining from flooring to cabinets, fixtures and appliances. All are new. All suites were furnished with new furniture in spring of 2017 and well maintained or replaced. The gym was completed in 2018 and outfitted with new gym equipment with the exception of the multi weight system. The pool was also completely redone with all surrounding patio covered paver stones.
There is an additional small building located next to the Pool which is currently a Managers Office, Storage Room on the Main Floor as well a Washroom for the Pool Guest.

Each unit overlooks sparkling canal waters, swimming pool, landscaped grounds, and the property includes a sturdy boat dock, which was built new with Electrical and Power ready for Dockage for 6 large boats.

Situated in one of Lucaya's best neighborhoods with quick boat access to the ocean, 10 minute walk to the beach and a few minutes' drive from Port Lucaya, shopping, hotels, and restaurants. You couldn't ask for a better location

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