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 9,378 sq. ft. lot, with elevation of up to 48', is located at the northern end of Whale Point within very close proximity to the Harbour Mouth Channel that runs between world famous Harbour Island, and Whale Point.

With 100' of road front frontage, it is the perfect spot for building the home of your dreams in a peaceful and serene neighbourhood on the unspoiled island of Eleuthera (The Island of Freedom). There are potential ocean views on three sides of this lot.

Local airports, and ferry docks are easily accessible from here, as are swimming beaches, Surfer's Beach, Bottom Harbour, places to see turtles, great restaurants, bars and food stores.

Hop on a boat to Harbour Island and be there in just minutes. Swim at one of several nearby beaches with powdery sand and crystal clear, azure water. Explore spectacular cliffs. Take a stroll on Harbour island's world famous pink sand beach. Marvel at the beauty of the nearby Glass Window Bridge, the narrowest point of Eleuthera and the meeting of two seas and watch the blow hole spout!

Drive through Whale Point and take a look at this lot. Do not pass on this opportunity to invest in property on one of the most popular islands in The Bahamas.

Call now for further details.