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 between the calm, tranquil beach of Bottom Harbour and the wild cliffs of the Atlantic, this Whale Point home is an impressive, solid concrete 2 storey home with tremendous potential as a vacation rental property. It is over 4,000 sq. ft. in size including an attached garage.

A few minutes' walk takes you to the calm, shallow waters of beautiful Bottom Harbour, which is the home and playground for many forms of sea life including turtles!

Surrounded by flowering plants and mature native trees and vegetation, a covered walkway takes one to the downstairs storey which opens into a large, open plan area with a huge kitchen, dining and sitting area. With a separate utilities room, the kitchen also opens outside to a patio and the peaceful back garden.

Continuing through to the right takes one to a small hallway off of which are located a hall closet and 2 airy bedrooms. one of which has an en suite bathroom.

To the left of the front door is a hallway leading to a comfortable, relaxed fouth bedroom, presently being used as a TV room.

Upstairs the master bedroom leads out to a balcony, perfect for relaxing with a coffee in the morning or a cocktail in the evening enjoying cool breezes. There is also a large walk in closet and ensuite bathroom.

For those looking for a secluded and peaceful place to relax, the house offers a space for a family to enjoy the great beauty and amazing topography of Whale Point. Charter ferries take one over to world famous Harbour Island. or a short drive to the main road and the extraordinary Glass Window Bridge which straddles both sides of the ocean. Go north and explore North Eleuthera with its beaches and caves or take the ferries to Harbour Island or Spanish Wells for the day. North Eleuthera airport is a 20 minute drive.

Head south into Gregory Town, famous for its sweet pineapples or explore the rest of this fascinating island including the island capital GH with its Victorian homes, shops and restaurants.

This home is an excellent price and ready to make someone a lovely home.