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.

Located on the renowned Spanish Main Drive, this oceanfront estate offers timeless luxury and tranquility. Perla Del Caribe and Cabana House together form a private retreat on 150 feet of pristine beachfront, providing unspoiled views of crystal-clear waters.

Perla Del Caribe spans 3,744 sq ft, including the Cabana House, and is decorated in a traditional island style. The home features a master suite with direct pool access and an additional ensuite guest bedroom overlooking the lush gardens. A chef's kitchen with premium Miele appliances, an etched-glass enclosed library, white oak wood and marble flooring, and Ludowici roof tile enhance the elegance of the home. The property also includes a pool surrounded by a beautiful pool deck with breathtaking ocean views.

Cabana House is a detached 668 sq. ft. guest house located on the same lot. The lower level features an open-plan living area and full kitchen, while the upstairs loft serves as a cozy bedroom. This additional space is perfect for hosting guests or enjoying quiet solitude.

The property is equipped with smart home-controlled air conditioning, whole-house sound systems, advanced security cameras, and a gated entrance. Surrounded by lush greenery and pristine beaches, Perla Del Caribe and Cabana House offer a serene escape in one of Grand Bahama's most desirable locations.