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.

Welcome to your dream island getaway on Hideout Lane, just off Ocean Drive in beautiful Rainbow Bay, Eleuthera. This impressive property spans three lots and offers breathtaking sea-to-sea views.

Bahama Nirvana is a 1,500 sq ft, 3-bedroom, 2-bath home offering the perfect blend of charm and functionality. The original house, built in 1975, consisted of 2 bedrooms, 1 bathroom, and a cistern. In 1991, a well-designed extension added a larger kitchen, a second cistern, and a master bedroom with an ensuite bathroom and two private patios "' one facing the Atlantic Ocean and the other facing the contrasting tranquil waters of the Bight of Eleuthera. The combined cistern size is approximately 30,000 gallons. A footpath to Man-O-War Road at the rear of the property offers a shortcut to Rainbow Bay Beach.

Rainbow Bay is centrally located, with convenient access to two international airports, inter-island flights, ferry terminals, shops, and restaurants. Community amenities include tennis and pickleball courts, jogging paths, boat ramps, parks, and access to 4 stunning beaches.

Wake to panoramic ocean vistas from the master bedroom, living room, and expansive decks. Enjoy the soothing island breezes in a secluded and tranquil setting with ample room to relax, entertain, watch sunsets and sunrises, or simply gaze at stars. The outdoor living spaces include multiple decks and porches, a gazebo perfect for ocean viewing or lounging in a hammock, and a BBQ and fish cleaning station for easy outdoor dining and entertaining. Hurricane shutters are available.

The fully equipped kitchen, with a central island and open-concept layout, is excellent for cooking and gathering. There is a utility room with a washer and dryer. The home offers plenty of storage space in its closets, garage and basement - and with three lots and the option to acquire a fourth, there's room to expand and create your ideal retreat. Wi-Fi, phone, and internet are connected.

The well-established grounds feature a rock garden, mature palm trees, low-maintenance foliage, and fruit trees, including Governor's plums, sour orange, and avocado - providing a lush and private setting.

This well-maintained property combines island charm with modern comforts, offering endless possibilities to make it your own. Contact us today to schedule a private viewing and start living your island dream!