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.

Don't miss this rare chance to own a piece of Marsh Harbor! This former police station, located in one of the most sought-after areas of Abaco, sits directly across from the dock to world-famous Bakers Bay. Whether you're an investor, entrepreneur, or someone with a vision for a signature project, this property offers unlimited potential.

The structure itself is solid but in need of repairs and updates, making it a true blank canvas for the right buyer. With the right touch, this building could be transformed into a boutique hotel, restaurant, retail shop, office space, or a one-of-a-kind residence.

Key Features:

Unbeatable Location: High visibility and steady foot traffic, ideal for commercial use.

Flexible Use: Zoned for mixed-use, allowing for a wide range of possibilities.

Proximity: Directly across from the ferry dock to Bakers Bay "' a hub for tourists, locals, and daily commuters.

Whether you're looking to restore a charming building or create something entirely new in the heart of Marsh Harbor, this property is a golden opportunity. Bring your ideas and energy "' the future of this space is only limited by your imagination.