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.

Close to several beaches, Lot 29 Block 6 is a lovely, oversized parcel of land to build your vacation home.
Located on Hillclimb Road, tucked just off Ocean Drive, which boasts a panoramic view of the sea from Harbour Island to James Cistern Point, it is within a short walk to Twin Beach with 2 private pink sand beaches and Smuggler's Beach. Rainbow Bay beach, which is the most popular, is a 2-minute drive on the Caribbean side and calm for swimming most of the year round.
It is an elevated lot back from the water, enjoying wonderful sea breezes, and has utilities at the lot.
Rainbow Bay is an excellent location for exploring this wonderful and exciting island. It has shops and a restaurant nearby but remains peaceful and beautiful, with endless ocean views and acres of native vegetation.
The nearest airport is Governors Harbour, a 15-minute drive.