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.

Leaf Cay is a prime location fully serviced private island located 2 miles to the west of Staniel Cay, the beating heart of The Exuma Cays. Leaf Cay has three beaches, a large dock, great elevations, and a number of buildings on the island including a main house and guest house. The island has power supplied by an underwater cable from Staniel Cay, making for hassle-free private island living.

The island has approved plans for a full resort and marina, including overwater bungalows. The current buildings are in poor shape, but the main house and staff house are liveable which will be useful for any re-development of the island to be used as a base and living quarters for the building team.

With Leaf Cay's prime location just minutes from Staniel Cay, it would make an amazing destination for a private owner looking for easy access together with full privacy as Leaf Cay is off the beaten track for boaters in the Exuma Cays. This is truly a one-of-a-kind well-priced island and no other offering can come close to what Leaf Cay offers. Comparable turn key properties are offered at a minimum of 5 times the cost.

Don't miss this opportunity to own this island with the best development potential in The Bahamas.