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 newly re-modeled home is nestled in the quiet cul de sac of Hardy Hollow, in the upscale subdivision of Greening Glade on Grand Bahama Island.

This lovely home offers a unique opportunity, as it also features a built-in guest cottage or Mother-in-Law's Suite"'a two-bedroom, one-bath fully equipped suite with a private porch and separate garden area. This guest cottage is perfect for your out-of-town guests or as income potential!

The home itself offers a large living room, dining room, and open-concept kitchen with state-of-the-art appliances. The entire home is fully tiled with wood-like ceramic tiles, and the spacious bedrooms have beautiful hanging barn doors. The house is protected by hurricane shutters and a new metal roof. There are four bedrooms and four full bathrooms in the main house. The back bedroom has been set up for a maid's quarters, and the master bedroom has its own living room, too. It is perfect for the executive and family living.

The grounds are lushly landscaped with mature trees, offering both privacy and shade as you relax in the backyard pool. Hardy Hallow is an unassumingly large property on a private cul de sac which allows quick and easy access to town and entertainment in the Port Lucaya marketplace.