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 residential lot is located on the beautiful island of San Salvador, Columbus Landing Four subdivision in Sandy Point. Sandy Point is about 25 minutes from the International Airport and about 20 minutes South of Cockburn Town. Bahamas Air has daily flights from Nassau to San Salvador and one weekly flight on Saturday from Miami to San Salvador. There are two weekly mailbox services from Nassau and one bi-weekly service from Fort Lauderdale. There's Bank Of The Bahamas on the island.

Lot#5 has access to all utilities and is a 2-3 minute drive to Grotto Beach. There are 3 hotels and Air B&Bs on the island. Rental cars and motor scooters are available at the airport.

San Salvador is a great place to have a home away from home, and this lot would be ideal for that.