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.

This oceanfront spans 10,800 sq ft (0.25 acres) offering stunning views of the Atlantic Ocean and breathtaking sunrises. Located in Eleuthera, this property is close to beautiful beaches and is part of a vibrant residential community, the lot is located behind Fisherman's Point in Rainbow Bay.

The development offers multiple beaches, boat ramp, tennis courts, kayak storage, restaurant, and the Rainbow Bay Inn for additional guests if need be.

The development is situated in between the Caribbean and Atlantic. The main beach is located on the Caribbean side with umbrellas, tables, and kayak storage.

This community is in a convenient area with nearby grocery stores and other amenities for your comfort. The Governors Harbour Airport (GHB) is only a 15-minute drive south and the North Eleuthera Airport (ELH) is 40 minutes away.

This lot is priced to sell!