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.

Lazy Shore Road, which meanders along the coast next to the turquoise and azure Caribbean ocean, is arguably the prettiest in Rainbow Bay and one of the loveliest on the island of Eleuthera.

Lot 11 block 15 is a beautiful elevated lot, with cooling sea breezes and gorgeous panoramic views off the ocean sweeping from Hatchet Bay in the north to Sayle Point. Sunsets are amazing.
This would be a spectacular location to build your home; plus, lot 11 is one of the largest in Rainbow Bay, with 100 feet on the ocean, totaling about 16,000 square feet.

The vegetation is glorious, with lots of native trees and bushes, plus flowering plants nearby, such as bougainvillea and silver buttonwood.

Rainbow Bay is an excellent location with beaches, convenience stores nearby, and cafes. The nearest airport is Governors Harbour, a 15-minute drive