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.

The land is conveniently located a few minutes' drive along the Queens Highway, to the north of the Rock Sound airport that is served twice daily from Nassau, direct executive flights are also available from Fort Lauderdale.

The town of Rock Sound, about an hour south of Governors Harbour, is a short drive away and boasts several food and liquor stores, together with other essential amenities. The township also has medical facilities, a gas station, a pharmacy, and fine and casual dining restaurants. In addition, within a 30-minute drive, there are numerous attractions, such as stunning beaches on both the Caribbean and Atlantic coasts, panoramas, ocean holes, and caves.

South Eleuthera has recently seen a high level of investment, including the Jacks Bay Development, where Tiger Woods and Jack Nicklaus have joined hands to construct two world-class golf courses. Also, Disney Cruise Line has created a new experience at Disney Lookout Cay at Lighthouse Point, giving families the opportunity to explore beautiful beaches and nature, as well as broader tourism offerings in Eleuthera.

With such a high level of investment by such world-renowned individuals and companies, other such organizations will want to follow suit and be part of this highly profitable environment, so the time to invest is now.