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.

Escape to paradise with this charming beachfront home in the serene community of Sandy Point, Abaco. Nestled on a 16,200 sq. ft. lot with 90 feet of pristine beachfront, this property offers breathtaking sunsets, soft sandy shores, and the tranquil sounds of the ocean"'right at your doorstep.

The 1,320 sq. ft. beach home exudes rustic charm and island character, providing a cozy yet spacious retreat. A 745 sq. ft. garage/workshop with a versatile loft space provides endless possibilities whether you need extra storage, a creative studio, or additional room for overflow guests. Additionally, a 75 sq. ft. laundry room adds to the home's convenience.
Located just a 2-minute drive from the Sandy Point Airport, this property ensures seamless access for private aircraft travelers. The vibrant community of Sandy Point, situated at the southernmost tip of Abaco Island, is known for its laid-back atmosphere, unspoiled beaches, and friendly locals. Enjoy fresh seafood and island hospitality at Nancy's world-famous restaurant and bar or explore the natural beauty of the area also home to the colourful and chatty Abaco parrots.

Whether you're looking for a peaceful vacation getaway or a full-time beachfront residence, this charming retreat offers the perfect blend of privacy, convenience, and island charm.

Don't miss the chance to own a piece of Abaco's paradise"'schedule a private viewing today!