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.

Exceptional Tri-Plex Estate on the Grand Lucayan Waterway "' Colony Bay, Freeport

Discover a truly unique island retreat in the prestigious Colony Bay community on Grand Bahama. Positioned on over 200 feet of prime waterfront along the Grand Lucayan Waterway, this remarkable tri-plex estate combines luxury, strength, and versatility"'all set atop one of the island's highest vantage points.

Encompassing 8,500 sq. ft. of total space (with 6,650 sq. ft. of indoor space), the property comprises three distinct residences elegantly integrated under one roof. Each home boasts 14-foot ceilings, individual architectural character, and solid construction"'crafted with reinforced 8" concrete walls and galvanized steel roof trusses on 12" centers, ensuring lasting durability and peace of mind.

Every residence features its own private entrance, living and dining areas, a fully equipped kitchen, laundry/storage room, and a covered rear porch overlooking the water.

Unit A: 3 bedrooms, 2 bathrooms

Unit B: 2 bedrooms, 2.5 bathrooms

Unit C: 3 bedrooms, 2 bathrooms, plus an office or optional extra room

Each unit is designed for both comfort and entertaining, with outdoor grilling stations and ample al fresco dining space.

Residents share a sparkling saltwater pool and a spacious landscaped backyard, ideal for gatherings, relaxation, or even a bit of golf practice. From the backyard, a central staircase leads to private docks below, offering seamless access to the tranquil waterway and endless boating adventures.

Whether you're seeking a multi-generational family home, an investment property with strong rental potential, or a boater's paradise for island-hopping excursions, this exceptional tri-plex offers it all"'style, substance, and flexibility in one stunning package.