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 elevated double lot is situated on the beautiful island of Eleuthera in the development of Eleuthera Island Shores which is on the northern end of Eleuthera near Gregory Town.

Located on the ridge, you will enjoy views of the Atlantic and the Caribbean side of the island with stunning sunrises and sunsets from the second floor of a home. With this elevation one will also have wonderful cool ocean breezes.

Lot 13 is located on the corner of Hibiscus Road and Eucalyptus Drive and Lot 12 is located next door on Eucalyptus Drive. Both are accessible from the Queen's Highway via a paved road. Each lot are roughly 9,600 square feet, or 0.22 acres. Utilities run along Hibiscus Road and so it is easy to connect both properties.

The lots can be purchased together or separately giving a buyer the opportunity to do a large home with cottages, or two separate homes with an investment potential.

Surfers Beach is just a short walk down the road. Eleuthera Island Shores is also located near to stores, the bank, and the international airport. In addition, The Cove resort and restaurant is located nearby, a beautiful natural wonder, where two pink sand cove creates an amazing island oasis, with crystal clear turquoise blue waters and a perfect beach for snorkeling, paddle boarding and kayaking.

With a quick 20-minute flight from Nassau the islands of Eleuthera will make you feel worlds away surrounded by indigo seas, white powdery sand, and a seemingly endless array of islands and empty beaches to explore.