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.

Lot 1A is a 27,313 sq. ft. oceanfront lot, offering 100' of pristine beach frontage.

This undeveloped lot with elevations of up to 47' is situated in the vicinity of Unique Village in North Palmetto Point, Eleuthera. The property is comprised of native vegetation and is ripe for development.

Zoning is Residential or Commercial making it a very versatile and attractive investment. All utilities are available to the site, and sewage disposal would be via septic tank.

Steps leading down to the beach directly in front of site are required.
Don't miss this opportunity to acquire land on a spectacular beach off the Bank's Road, near popular Governor's Harbour, in an area that is fast growing in popularity!

Call now for further information, and to book a private viewing appointment!