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 wonderful 5 bedroom 3.5 bath home is tucked away on a quiet cul de sac and nestled on 1.41 acres of pristine grounds and waterfront. Boasting awe-inspiring panoramic views of the Lucayan Waterway, this home is a must-see.

Beautifully finished, it features tiled floors, high ceilings, lots of windows and doors that provide lots of natural lighting, and over 8000 sq. ft. of fantastic living space. This home also has an office, breakfast nook, entertainment room with bar, and a family room with a wood-burning fireplace. The expansive patio is great for al fresco dining and entertaining and is great for hosting parties. There's also a Jacuzzi, sauna and lots of space to add a pool if you desire.

Offering over 481 feet of deep water canal which can easily accommodate large vessels, boaters will love being able to access both the North and South shores of Grand Bahama in just a few minutes!

This home is a must-see for anyone looking for a large estate home with lots of waterfront! Call to arrange a viewing.