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.

Time Out is a spacious, tastefully decorated, and breezy, 3 bed 2 bath family home tucked away at the end of a paved cul-de-sac road just off popular Wandering Shore Drive in Rainbow Bay, on the calm sound side of Eleuthera.

The home is being sold semi furnished. There is a dual water supply with a city water hook up and a 12,000 gallon rainwater cistern with a pump.
Other features include good quality hurricane shutters for all windows and doors, ductless A/C units in each bedroom, large closets, a laundry closet with a washer and dryer, terra cotta coloured ceramic floor tiles and wood laminate floors, a landscaped garden, and plenty of extra space for expansion and even a pool.

Time out is the perfect place to get away from the demands of modern day living. Perched on a gently sloping hill and constructed on an over-sized lot, this tranquil island home commands beautiful ocean views, and enjoys cool ocean breezes all year round.

Rainbow Bay Community with its parks, boat ramps, tennis court, and secluded beaches, is conveniently located close to shops, ferry terminals, restaurants, food stores, and two airports with regular flights to the US and New Providence.
This is a great opportunity to purchase a retirement home, an Airbnb incoming producing investment, or a permanent home. HOA fees are $250 a year.

Call now for more details and take the first step toward making this your very own home.