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.

Welcome to Sugar Apple, a charming tropical escape nestled in the heart of Rainbow Bay, one of Eleuthera's most beloved communities. Perched above the Atlantic Ocean, this delightful 3-bedroom, 2-bathroom home offers breathtaking views and an effortless blend of comfort, style, and island living.

From the moment you enter the open-concept great room, you're greeted by warm wood floors, a spacious kitchen with a butcher block island, and a seamless flow between indoor and outdoor spaces. Whether you're sipping your morning coffee with panoramic ocean views or hosting friends and family, Sugar Apple is made for relaxed, easy living.
Step through the sliding doors onto the wrap-around wooden deck, where a sparkling private pool awaits. The master suite and great room both open to the outdoors, creating a natural extension of the living space and making the most of the stunning views and island breeze.
This well-built concrete structure is fully equipped with all utilities and high-speed internet and has a proven track record as a successful vacation rental, making it an ideal investment property, island getaway, or remote work retreat.

Lot 18, Block 21 is just a stone's throw away from the secluded Hidden Beach and only a short drive to the popular Rainbow Bay Beach, you're never far from the turquoise waters perfect for swimming, snorkeling, paddleboarding, kayaking, or simply sunbathing on soft sand where unforgettable sunsets wait for you daily!

Residents of Rainbow Bay enjoy access to community tennis and pickleball courts, boat launches, and the lively Rainbow Inn Restaurant, known for its tropical cocktails, island cuisine, and weekly live music. The nearby town of James Cistern offers beachside dining, a conch salad stand, and fresh local flavors.

Centrally located on Eleuthera, Sugar Apple is easily accessible via two international airports, with a short drive to Governor's Harbour and convenient access to Harbour Island and Spanish Wells. For boating enthusiasts, Hatchet Bay offers safe harbor and dry dock services nearby.
Don't miss your chance to own this turnkey island treasure in one of the most desirable areas of Eleuthera.