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.

Expansive Residential Lot in Rainbow Bay. Ideal for Your Dream Home or Investment Property!

Nestled in a quiet cul-de-sac off Wandering Shore Drive, this oversized residential lot offers a peaceful retreat on the calm bight side of Rainbow Bay, North Eleuthera.

With elevations reaching up to 80 feet, a home built here is likely to enjoy breathtaking sea views. Power is available approximately 200 feet away, and annual HOA fees are just $100 for undeveloped lots and $250 for developed lots, annually.

Whether you are looking to build a permanent residence, a vacation getaway, or a high-demand Airbnb rental, this lot presents an excellent opportunity.

Rainbow Bay is a sought-after, centrally located community, offering easy access to multiple pristine beaches, walking and jogging paths, pickleball and tennis courts, scenic ocean cliffs, and several boat ramps. Conveniently located near two major airports, ferry terminals, local restaurants, and village food stores, this property is the perfect base for exploring Eleuthera.

Lots in this desirable neighborhood are selling fast - don't miss your chance to own a piece of paradise.

Call today to arrange a private viewing!