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.

Nestled in the exclusive Blue Marlin Cove gated resort, Unit 20 is a beautifully designed 2-bedroom, 2.5-bath residence with a deeded 40ft dock slip. The unit features tile flooring throughout and an open-concept layout ideal for relaxed living and entertaining.

The kitchen boasts dark wood cabinets, granite countertops, and stainless steel appliances seamlessly flowing into the dining and living areas. Sliding glass doors from the living room open onto a spacious patio, offering stunning views of the marina and the sea beyond.

Each bedroom includes an ensuite bathroom for privacy and convenience, while the resort's amenities, including a pool, hot tub, and tiki bar, are just steps away.

Located in Bootle Bay, Blue Marlin Cove is renowned for its world-class marina, full-service facilities, and proximity to the best of Grand Bahama, including the nearby West End Airport and pristine beaches. Whether you're seeking a vacation retreat or an investment opportunity, Unit 20 is an exceptional choice.