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.

For those who love the amazing views and spectacular marine life of the Caribbean. or Bight side of Eleuthera, this is a glorious location to build your island escape!

Just off the main road, the Queens Highway, outside Gregory Town, this lot with 100ft on the ocean is in a perfect position to enjoy the beauty of North Eleuthera. Fish of all varieties, turtles, stingrays are to be seen in the magnificent turquoise water.

Nearby Gregory Town, famous for the sweetest pineapples in the world, is a delightful settlement with small shops and cafes, and not far to the north is the astonishing and world famous Glass Window Bridge. There are also several wonderful beaches in the vicinity including calm Gaulding Cay and dramatic Surfer's Beach.

Not far from the lot are the ferries to Spanish Wells and Harbour Island for fun day trips and shopping, with North Eleuthera Airport being a 15 minute drive and providing daily flights to the US and Nassau.

Water and electricity are already at the lot which is ready to for your vacation home.