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.

Located at the end of a quiet lane which faces the brilliant blue Bahamian waters, Mama Lou is a delightful island style cottage with modern conveniences such as full air conditioning and starlink to make life as stress free and comfortable as possible! It is brand new and has started renting well.

Bright, airy and cheerful, what a lovely home to have very close to Hidden Beach with its curly tailed lizards and pink sand! At night you can sit on the porch with a cooling beverage and listen to waves while watching the stars. For those who love beaches, there are several in Rainbow bay including arguably the loveliest on the Caribbean side which is suitable for swimming year round.

With comfortable sofas, big screen tv, open plan design and brand new appliances, Mama Lou also has 2 bedrooms and bathrooms tastefully decorated and perfect for a vacation rental home.

Rainbow Bay is a quiet location only 15 15-minute drive from Governors Harbour airport with several flights daily to Nassau and the USand has several beaches, with shops and beachside cafes not far away in the local settlement of James Cistern. It is the perfect location for exploring the magical island of Eleuthera.