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.

Brand new, upscale, and meticulously constructed, 3 bed 2.5 bath modern home in Rainbow Bay with excellent elevation and dramatic ocean views of the Atlantic.

Purchasing this home would qualify international buyers for permanent residency status application in The Bahamas.

Perfectly situated close to airports, ferries, shops, restaurants, bakeries, amenities, and a large selection of secluded beaches.

Solidly constructed on a rocky ridge by an experienced contractor, this exceptional home, is bright and breezy, has great flow, and offers stunning ocean views from every room.

Interior finishes offer a clean design with careful attention to detail and include an open plan kitchen, dining and living area with an impressive tray ceiling, 11.5 ceilings, granite countertops, stainless steel Samsung appliances, modern cabinetry, LED lighting, decorative glass interior doors, top of the line plumbing fixtures, backlit bathroom mirrors, 32 porcelain floor tiles throughout, Hunter fans, and an efficient 5-ton central A/C system.

There is an impressive array of additional features including a poolside water fountain and spacious concrete patio, open one car garage, concrete driveway, large laundry closet, poolside pump room, outdoor shower, landscaped front garden, and city water supply with a 1,000-gallon holding tank and Myers pump.

This property is a must see for those seeking an Eleuthera investment property, a retirement home, or a home away from home. It is conveniently located in a friendly and vibrant community that is surrounded by natural beauty, jogging paths, spectacular cliffs, beaches, boat ramps. There is also a functioning Homeowner's Association with a dedicated management team.

Make a private viewing appointment and submit an offer on this exceptional home today.