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.

Water Sports Paradise on Rum Cay, Bahamas! This charming and affordable 3-bedroom, 2-full-bath home offers an unspoiled, idyllic island getaway with breathtaking ocean views. Enjoy pristine beaches, world-class snorkeling, fishing, and surfing in a truly unique and authentic setting.

Just 2 miles from Sumner Point Marina and conveniently located near local amenities, this property presents an excellent investment opportunity in a rapidly growing tourist destination. The airport, with a 5,000-foot runway, hosts regular private flights from Long Island, making travel a breeze.

The home features modern updates, including a metal roof, new wiring and plumbing, cedar construction, hurricane-rated vinyl siding, insulated and tinted windows and doors, a tankless water heater, and a 10,000-gallon underground cistern with potable water. Each of the bedrooms, the living room, and the kitchen has its own air handlers and three-zone HVAC system with split units for optimal climate control.

The present owner has been Wahoo fishing here for about 20 years, and the home is fully equipped with 2 refrigerators, 3 deep freezers, and a commercial ice machine. Additionally, a corner lot across the street and a well-maintained Venture 34 center console with 2-250HP Yamahas, are available for separate purchase.
This property presents an excellent investment opportunity in a true slice of paradise.

Experience the Rum Cay lifestyle firsthand!