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.

With 200 feet facing the beautiful Bight of Eleuthera, also known as the Caribbean side, this 2-acre parcel north of the Governors Harbour airport would be a spectacular location for building a home and guest cottage.

As it is on a gentle slope, the views especially from the top are magnificent and the cooling ocean breezes very welcome in the heat of the summer! Walk across the road and jump straight into the ocean!

Close by is the quaint and charming settlement of James Cistern, where you can buy fresh fish at the dock or eat lunch and dinner at one of several beachfront cafes.

This is a great location for exploring the island, with Gregory Town home to the sweetest pineapples, the famous Glass Window Bridge, and the islands of Spanish Wells and Harbour Island to the north.

To the south, the nearest airport is Governor's Harbour less than a 5-minute drive, with frequent daily flights to Nassau and several flights weekly to Fort Lauderdale. From there, it is a short drive to Governor's Harbour, the island capital, with its shops, cafes, and quaint architecture, plus the world-famous pink sand beach. Of course, there are dozens of wonderful unspoilt beaches to explore all over this magical island!

This wonderful parcel of land would be a fabulous location for your island home!