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.

This delightful, bright, and breezy 1-bed, 1-bath cottage is situated on a paved road, within very close proximity to Surfer's Beach and the famous Surfer's Manor hotel. This area is a magnet for serious surfers, and surfers of all levels, but also for people looking for an authentic, off-the-beaten-track experience in a tropical paradise.

The cottage is being offered semi-furnished. It is connected to power and city water and is also equipped with a backup rainwater tank, an outdoor shower, and a standalone utility shed. A beautifully crafted wooden fence surrounds the property, offering ample privacy.

The picturesque settlement of Gregory Town, known for the sweetest pineapples in the world, is just a 5 to 10-minute drive away. There are frequent ferries available from Gene's Bay and Three Island Dock to Spanish Wells and Harbour Island, as well as readily available international flights to and from North Eleuthera Airport.

There is a beautiful wrap-around veranda overlooking a lushly landscaped garden with mature trees and plants, furnished with comfy, real-wood Adirondack chairs. Natural rock features on the surrounding land have been enhanced with tropical flora and fauna, and are now covered with walkways.

Call now to arrange a viewing with an experienced Real Estate agent based in Eleuthera.