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.

Welcome to Boater's Choice, a stunning home in the gated Sunrise Bay community of Marsh Harbour. Overlooking the Sea of Abaco, this property offers unobstructed views of Lubbers Quarters and Hope Town.

This newly renovated 3-bedroom, 2-bath home features two separate living quarters divided between the first and second floors, connected by a convenient lift/elevator towards the back of the home. Located a short walk from Restaurant Row and boutique shopping, Boater's Choice combines serene island living with urban amenities.

Residents enjoy a private beach and their own marina across the road. The property includes a dock slip and lift for boats up to 32 feet. Experience unparalleled coastal living at Boater's Choice.