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.

Halcyon House overlooks the turquoise waters and beautiful sunsets located on the southwest shoreline reserve of Lubbers Quarters within The Abaco Ocean Club.

Currently the layout offers a true 2-bedroom and 2-bathroom home with a comfortable open floor plan but can easily be retrofitted into 3 bedrooms. It has large covered decks overlooking the Sea of Abaco and would make a great vacation rental property with shared dock access right at your doorstep.

Upstairs there is 1-bedroom and 1 bath with the open living currently also offering addition sleep quarters. The dining and kitchen area, plus 1-bedroom and 1-bathroom are on lower level that also looks out to the Sea of Abaco.

Fully furnished, 15KW back-up generator, outdoor shower and shared dockage adjacent the house, plus community dockage on East side of island just a short cart ride away.

The Abaco Cays are home to exceptional fishing, boating, snorkeling, and beaching and all in your backyard!

Call today for more information!