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.

At almost 15,000 square feet, with 90 feet on the dazzling blue Bahamian waters of the Bight of Eleuthera, also known as the Caribbean side, Lot 45 is a fabulous location to build your holiday or retirement home. Utilities are right there.

On the corner of Wandering Shore and the Queen's Highway, it is less than a 5-minute walk to Rainbow Bay beach, which is perfect for snorkelling and calm and shallow enough for children to play most of the year round. It is also ideal for watching birds, such as pelicans and ospreys, diving down, or shoals of small fish being chased by larger ones in the crystal-clear water.
For lovers of nature looking for peace and tranquility, look no further!

Rainbow Bay is a well-kept subdivision with pickleball courts and the Inn for pizza or fine dining. About a 5-minute drive away in James Cistern are three convenience stores and a couple of beach cafes.

The nearest airport is a 15-minute drive south of the island capital.
Governor's Harbour is a 10-minute drive from the airport. This is an ideal location for exploring the beautiful island of Eleuthera.