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 Sweet Merlot, a beautifully designed island retreat in the heart of Rainbow Bay, one of Eleuthera's most coveted coastal communities. This thoughtfully crafted compound features a spacious 4-bedroom, 3.5-bathroom primary residence, a charming 2-bedroom, 2-bath guest cottage connected via a dual-entry foyer, and a separate guest studio/home office above, ideal for extended family, remote work, or vacation rental flexibility.

Perched above the Atlantic Ocean and surrounded by lush tropical landscaping, Sweet Merlot offers sweeping views, gentle sea breezes, and the effortless rhythm of indoor-outdoor living. Multiple decks, a private poolside patio, shaded porches, and intimate seating areas invite you to relax, entertain, and soak in the serene surroundings.

Step inside the open-concept great room, where relaxed elegance meets coastal comfort. A modern kitchen with sleek finishes flows seamlessly into the dining and living spaces, creating the perfect setting for gathering with friends and loved ones. Expansive sliding glass doors open onto a wraparound deck, blurring the boundaries between interior living and the vibrant tropical landscape beyond.

Upstairs, a cozy family room and spacious dormer-style bedrooms offer the perfect blend of privacy and communal living, making this home an inviting sanctuary for families or groups. Every detail has been considered"'from high-end finishes to quality frame construction, complete utilities, and high-speed internet, ensuring turnkey readiness for your escape or a lucrative rental investment.

Located just minutes from the tranquil Little Twin Beach and a short drive to the vibrant Rainbow Beach, you'll enjoy effortless access to swimming, snorkeling, kayaking, and paddleboarding in crystal-clear turquoise waters. As the sun sets, gather on the deck to witness breathtaking sunset skies and starry nights.

As part of the Rainbow Bay community, owners enjoy exclusive amenities, including tennis and pickleball courts, boat ramps, and proximity to the beloved Rainbow Inn Restaurant, known for its island-inspired cuisine, tropical cocktails, and lively music nights. Nearby James Cistern provides authentic local dining, fresh seafood, and a true taste of Bahamian culture.

Centrally positioned and easily accessible, Sweet Merlot is just a short drive from both North Eleuthera and Governor's Harbour international airports, with convenient connections to Harbour Island, Spanish Wells, and local attractions such as the iconic Glass Window Bridge and Hatchet Bay's safe harbor and dry dock facilities.

Whether you're searching for a serene island home, a multi-generational retreat, or a turnkey vacation rental with proven income potential, Sweet Merlot is your invitation to experience the best of Eleuthera"'timeless beauty, modern comfort, and the soulful charm of island life.