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.

Forget about your problems and enjoy magnificent views of the aquamarine Bahamian sea from Forget About It, a charming 1,600 sq ft ranch-style two-bed, two-bath home located at the end of a cul-de-sac on Laughter Lane and offered fully furnished.

Perched atop a high ridge on a spacious 12,540 sq ft lot and built-in 1993, this inviting property offers stunning vistas across the tranquil Bight of Eleuthera from both bedrooms and the open-plan living area.

An oversized concrete patio and terrace make the perfect spot for barbecues, sundowners, entertaining, and relaxing under the stars.

Two full garages provide ample space for vehicles, tools, kayaks, beach toys, or even a small boat. One garage includes rough plumbing, offering the potential to add a bathroom and convert the space into overflow guest accommodations, a studio apartment, or a workshop with facilities.

A 16,000-gallon rainwater tank and collection system provide a reliable and sustainable water supply"'an essential feature for island living.

The property includes a simple grass lawn with mature coconut and palm trees dotted along the boundaries, offering a tropical, low-maintenance outdoor setting.

Inside, the open living area features three comfortable recliners for cozy evenings of TV and movies, and a built-in Murphy bed offers convenient additional sleeping space for overflow guests.

The kitchen is well equipped with a gas stove, refrigerator, microwave, and dishwasher"'perfect for preparing meals to enjoy indoors or out.

The spacious master bedroom boasts a walk-in closet and a private ensuite bathroom, while the second bedroom, furnished with two beds, shares a full bathroom with the main living area.

This second bathroom also houses a washer and dryer in a convenient utility space.

Located just minutes from a boat ramp, pickleball and tennis courts, and a communal community hall, Forget About It makes it easy to enjoy the best of island life. It's also centrally positioned near airports, ferry ports, shops, and restaurants, putting everything Eleuthera has to offer within easy reach.

Ready to "Forget About It"? Make this island retreat your own "' book a viewing today and start living the Eleuthera life.