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 ready to build on, 80 x 120, 9,600 sq. ft., lot is situated in a central and prime location, in a small, gated community known as Freedom Estates, in Hut Pointe - just minutes away from Sky Beach, Pascals, and Hut Pointe Inn.

Owning a property in Freedom Estates ensures easy access to a breathtakingly beautiful, white sandy beach on the famous Bank's Road, offering complete privacy, tranquility, and everything that Eleuthera is famous for.

Eleuthera offers endless opportunities for beach combing, kayaking, snorkeling, shelling, exercising, chillaxing, sun gazing, and star gazing, and immersion in a warm, rich, and vibrant island community.

Shops, restaurants, and entertainment can be found in the nearby settlements of Governor's Harbour and James Cistern. There is an international airport conveniently located close by, and so travel to and from this property is a breeze.

It's all about the location! Don't miss the opportunity to purchase this great property.

Call now for a viewing, and to arrange a private consultation with an expert Eleuthera Estate Agent about making this investment yours!