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 charming waterfront cottage offers the perfect blend of island living and investment potential, located in picturesque Russell Island, Spanish Wells.

As one enters the property, a driveway lined with coconut trees guides you to a furnished shaded patio.

The interior of the home features a warm, inviting atmosphere with beautiful wooden floors, high ceilings and an open-plan layout. Its spacious kitchen, equipped with a range, double oven and a butler's pantry is perfect for entertaining.

The dining and living areas flow seamlessly into a large patio, offering unobstructed ocean views and an abundance of natural light and fresh air. A generous ensuite bedroom with a spacious shower and patio access completes the first floor.

Floating stairs lead to the second floor, where two sunny bedrooms face the water, along with a second bathroom, laundry and storage.

The exterior of the property includes a wooden deck at the water's edge and a ramp ideal for boat or jet ski access to the water.

The property consists of two lots: Lot 1, which contains the cottage and is on the waterfront, and Lot 4, which features coconut trees and other native plants along the main road. Additional access to the cottage is available from the northern side, presenting an excellent opportunity for further development.

Experience the beauty of stargazing, stunning sunrises and breathtaking sunsets from the waterfront at Little Moon Cottage. Nestled in the family-friendly community of Russell Island, Spanish Wells, Eleuthera and known for its golf carts, fishing, sandbanks and the captivating sight of cruise ships passing under the moonlight.

Schedule your appointment today!