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.

Located off Russell Island in North Eleuthera, Royal Island is a 430 acre private island with beautiful beaches, great elevations a large natural harbour and a turn key private resort operation all less than 20 Minutes from North Eleuthera with its international Airport and FBO.

In 2007 Royal Island was approved for a major marina in the natural harbour in addition to an 18 Hole Golf Course. These approvals can be utilised or modified to create an incredible private island retreat that will be perfect in our current times with many people planning their own private island retreat.

The accommodations in place include 5 luxury one bedroom beachfront villas, with large wraparound decks, a Welcome centre complete with Spa rooms and a gym, a restaurant/bar building and a guest house near the main buildings. All of the community buildings offer sweeping wrap around verandahs and both overlook the beaches and a stunning oval shaped pool.

Royal Island, as set up currently, is excellent for private gatherings. Guests enjoy a customised experience, with a world class private chef, beach club, spa, fitness centre, a private catamaran, sports and security. Located approximately 40 miles northeast of Nassau and only a 15 minute boat ride from North Eleuthera,

Royal Island is the only island on the market with approvals for both a Golf Course and a marina and is well priced in the market.

Showing by appointment only.