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 vacant lot is located in Palmetto Point, Eleuthera, which is known as the hidden gem of Eleuthera.

Palmetto Point is about 13 miles south of Governor's Harbour Airport and five miles south of Governor's Harbour itself. It is bisected by the Queen's Highway running from top to bottom of the 100-mile island of Eleuthera, creating North and South townships.

This community, like its neighbor Governors Harbour, stretches between the Atlantic and Caribbean, creating a lively commercial center in the middle at the crossroads. Here you can find groceries, sundries, gift items, arts and crafts.

This prime vacant lot is located off of the main road and is adjacent to the Queens Highway. The front of this lot can be used for commercial and the rare can be used for a single family home. there are two lots next each other which is offered as well.

Take advantage of the great opportunity and make your offer today!