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 75 x 100 interior Village residential lot in Great Guana Cay, Abaco is situated just a short stroll or golf cart ride away from Orchid Bay Village Resort and Marina. Orchid Bay is a 217-acre resort with a selection of inland and waterfront homesite lots, as well as a number of established homes and attractive income producing vacation rental properties.

Homeowners can readily access a magnificent white sand beach and walk for miles along the Atlantic coast, or they can enjoy water activities and boating excursions from the harbour front on the Sea of Abaco.

The full-service Marina at Orchid Bay has boat slips and marina amenities available at seasonal rates to guests. Sunsetter's bar and restaurant is a great spot to enjoy a hearty meal accompanied by sundowners and stunning harbour side views. Use of the pool and tennis court is reserved for resort guests.

There is a local food store, and liquor store in Great Guana Cay, along with a small selection of gifts stores, and a regular ferry service to mainland Abaco. Nippers and Grabbers are both popular hangouts, famous for good food and entertainment.

Contact us now for further information on this great investment opportunity, or to find out how you can schedule a viewing.