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 recently refurbished home has four bedrooms and four and a half bathrooms.

Located on Bayswater Lane, the property is located along a serene canal front with direct access to Clinton Bay. Skylight is an immaculately maintained residence on a quiet cul-de-sac in the exclusive gated community of Lyford Cay. The home is roughly 3,950 square feet and is situated on an approximately 22,651 square foot / 0.52 acre lot.

The ground floor of Skylight has a practical floor plan. Upon entering, you have the entrance hall with the staircase upstairs, as well as access to the bedrooms and the main living space beyond.

The drawing room has tray ceilings and French doors leading out to the pool area. The outdoor space is great for entertaining with a sparkling swimming pool large enough to do laps, ample patio space and outdoor shower, all of which overlook the tranquil canal and lush landscaped gardens. Skylight also benefits from a highly coveted dock and boat lift.

Back in the house and off the drawing room is the loggia with additional French doors that open out to the rear patio that looks out towards the canal as well. These spaces give a lot of flexibility for living and entertaining. The drawing room also has its own little bar area.

The contemporary kitchen is also located off the drawing room. It has new stainless steel appliances, as well as a breakfast area and service door. Located between the kitchen and the entrance hall you will find bedroom four as well as laundry area and bathroom four. Located off this hallway is the double garage which has ample space for vehicles and storage. The garage also benefits from its own half bathroom, which is perfect for a housekeeper or gardener.

Off the other side of the entrance hall you will find bedroom three which has its own bathroom. Neither bedroom is en suite, but rather has bathrooms that are located by them, which gives flexibility when entertaining as both bathrooms could double as powder rooms.

Heading upstairs, you will find a linen cupboard and the master bedroom with his and hers wardrobes and large en suite bathroom with double sinks and separate bathtub and shower. Also, upstairs is bedroom two with its own large en suite bathroom with double sinks.

Skylight benefits from hurricane-impact windows and stone floors throughout, two separate driveways, a full backup generator, and ample storage.

Lyford Cay is home to the renowned Lyford Cay Club, which features beautiful beaches, a golf course, a marina, tennis and paddle courts, a pool, a fitness center, a beauty salon, restaurants, and hotel facilities.