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.

Tucked away on Lost Gold Road, just off Treasure Hill, and also accessible via Seven Shilling Road, this 10,860 sq. ft. hilltop lot is a true gem waiting to be discovered. With elevations from 85"'96 feet, the property offers sweeping ocean views "' whales may even be spotted passing by on their seasonal migration!

Located in the ever-popular community of Rainbow Bay, you'll enjoy access to multiple amenities, including Rainbow Bay Beach, Smuggler's Beach, Driftwood Beach, Hidden Beach, Twin Beach, community parks, walking and jogging paths, tennis and pickleball courts, and shared boat ramps. Electricity and water are conveniently nearby for easy connection, and the lot is situated on a peaceful street, making it perfect for an idyllic island getaway.

Centrally positioned for exploring the island, this property is also conveniently located close to shops, restaurants, and the Rainbow Bay Inn & Restaurant. Governor's Harbour, the hub of Eleuthera, is just 25 minutes away. Two airports and nearby ferry docks provide convenient travel to Nassau, Spanish Wells, and Harbour Island.

Whether building a vacation home, permanent home, or an investment property, this hilltop ocean-view lot is a rare find in one of Eleuthera's most sought-after communities.

Don't miss this chance "' stake your claim on Lost Gold Road and uncover your Eleutheran treasure today!