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.

Dive into the sea from your doorstep, and swim with colourful tropical fish on the coral reef below! Embrace the beauty of island living with these two adjacent oceanfront lots, sold together in the sought-after Rainbow Bay community.

With 180 feet of direct water frontage, these elevated lots sit approximately 40 feet above sea level, offering breathtaking, unobstructed views of both the sunrise and sunset over a sea of endless turquoise waters.

Perched on a stunning rocky shoreline, the property is beautifully landscaped with a partial lawn and a varied selection of mature palms, creating a serene and private setting. With ready access to both utilities and the ocean, you have the perfect foundation for your dream coastal retreat. Enjoy the tranquility and privacy of oceanfront living while still being part of a vibrant, well-established community.

Rainbow Bay is known for its excellent amenities, including several beaches, scenic parks, jogging paths, pickleball and tennis courts, The Rainbow Bay Inn and Sunset Cove Restaurant, and shared boat ramps, making it a haven for outdoor enthusiasts.

Conveniently located near two major airports and just minutes from shops, restaurants, and entertainment, this is a rare opportunity to own a highly desirable piece of oceanfront paradise in one of Eleuthera's most coveted locations.

Adding to its appeal, the lots sit directly across the road from a lush green space with full-grown palms and flowering shrubs - a preserved area that will remain unbuilt, ensuring a protected and private setting. HOA fees are just $260 per year.

Don't miss out - call today for more information!