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 spacious 12,500 square foot lot is located on the island of Great Harbour Cay. Great Harbour Cay is a 1,300 acre resort community situated 50 miles north-west of Nassau and 160 miles due east of Miami, Florida and is the northern-most island in the Berry Islands. The island is seven miles long and one and a half miles wide with heavily vegetated rolling hills and seven miles of sandy beaches.

Great Harbour Cay is an International Port of Entry for The Bahamas. Amenities include an 80 slip marina, grocery stores, and a number of restaurants.

A Police Station and Medical Clinic are located in Bullock's Harbour, a settlement connected to Great Harbour Cay by a causeway.