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.

Eleuthera island Shores (EIS) is situated in North Eleuthera between the peaceful and picturesque settlements of Hatchet Bay and Gregory Town, and close to airports, ferries that go to New Providence, Spanish Wells and Harbour Island, the Glass Window Bridge, shops, restaurants, cliff walks, and beaches.

Lots 5 and 6, Block 53, Section F are located on the Atlantic side, on the corner of Coconut Drive and Periwinkle Drive, close to world famous Surfer's Beach, Surfer's Manor, and Surfer's Haven.

They are being sold together.

Road access to the lots is good.

Utilities can be pulled from nearby poles, as there are two existing homes in the immediate vicinity.

Elevation is estimated to be up to 130' and there are potential ocean views if a home were to be constructed on the highest section of these lots.

Don't miss out on the opportunity to own property in this growing community!

Call now for additional information, or to arrange a private viewing appointment.