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.

Discover Far Horizon, an exquisite residence set on over 4 acres within the prestigious Windermere Island community. This remarkable home, completed in 2008, epitomizes a seamless fusion of modern design and natural beauty.
Designed by the celebrated architect Harold Levitt, Far Horizon represents the pinnacle of his career. Known for his innovative work with Hollywood's elite, Levitt's signature style shines through in this home with its emphasis on blending indoor and outdoor living. The residence features expansive glass walls, open vaulted ceilings, inviting courtyards, and a thoughtful layout that merges with the stunning beachscape.

Far Horizon has over 3,000 square feet of living space, three spacious bedrooms, three and a half bathrooms, and a striking double-sided fireplace that divides the dining and living areas. The tall glass windows capture panoramic sea views, while the large open deck offers a perfect spot for enjoying the beach and ocean. The home's design allows it to integrate into the surrounding dunes, enhancing its natural charm.

This property is sold fully furnished and move-in ready, featuring a heated saltwater pool, a stylish cabana, and a two-story guest house with one bedroom and 1,500 sq. ft. of sea and garden view living spaces. A separate boathouse workshop and 3 car garage complete the property. The grounds are beautifully landscaped with lush tropical trees and flowering plants, all supported by a comprehensive irrigation system.

With nearly 300 feet of pristine beachfront and a shared boat dock, Far Horizon offers an unparalleled setting for your dream home with ample space for further development. Located in the gated community of Windermere Island, accessible by bridge from Eleuthera, this property provides 24-hour security, a private club, and the ultimate in peaceful island living.