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.

Perfectly positioned directly opposite the world-famous Rainbow Bay Beach, Paradise Bahama Villa is a charming coastal haven offering easy access to a tranquil cove, ideal for swimming, snorkeling, kayaking, paddleboarding, or simply soaking up the Bahamian sunshine - right from your doorstep.

This beautifully upgraded 3-bedroom, 2.5-bath home blends modern comfort with authentic island charm and is designed to capture breathtaking turquoise sea views from nearly every angle.

The property features a 1,700 sq. ft. main house with a soaring signature wood ceiling in the great room, a 15' x 25' beach house overlooking Rainbow Bay Beach, and a 15' x 10' one-car garage with a rooftop lookout terrace offering panoramic ocean views.

Inside, you'll find a thoughtfully remodeled kitchen with granite countertops, custom wood cabinetry, stainless steel appliances, and Spanish porcelain tile floors. Additional highlights include two stylishly updated bathrooms, impact doors and shutters, and an elegant Italian-tiled entryway.

Outdoor living is at the heart of this home. The covered beach house is the ultimate relaxation and entertainment space"'complete with a gas fire pit, wall-mounted TV, comfortable lounge seating, a laundry room, a bathroom, and an outdoor shower. The rooftop terrace above the garage invites you to unwind with sunset cocktails, surrounded by plush outdoor furniture and sweeping ocean views. For those who love to cook and entertain, the custom-designed stone outdoor kitchen nook, equipped with a sink and gas BBQ, lets you dine under the stars.

Lush tropical landscaping and native fruit trees, including mango, sugar apple, sour orange, and golden coconuts, envelop the property, adding color, fragrance, and authentic island flavor.

As part of the Rainbow Bay community, residents enjoy access to five beautiful beaches, tennis and pickleball courts, parks, walking and jogging paths, and shared boat ramps.

Centrally located just 25 minutes from Governor's Harbour, this home offers easy access to airports, ferry ports, shops, and local restaurants"'making it the perfect base for exploring over 100 pristine beaches along Eleuthera's stunning coastline.

Whether you're seeking a peaceful full-time residence, a vacation getaway, or a lucrative rental investment, Paradise Bahama Villa offers it all"'style, serenity, and the ultimate island lifestyle.

Contact us today to schedule your private showing and start living the Eleuthera dream.

Don't just dream it"'live it.