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.

11 Venetian is a beautifully appointed canal-front family home in Old Fort Bay. With 5,750 sq. ft. under roof, this spacious home has 5 bedrooms and 5 ½ baths, a study, a family room with breakfast nook, a living room and dining room combination with bar, a covered verandah with roll-down shutters and electric screens, and a pool with water feature.

The villa-style home sits on an 11,713 sq. ft. lot and features Venetian archways and is surrounded by mature palm trees and tropical plants. The living areas have travertine flooring and the bedrooms and study are finished with hardwood. The kitchen has maple cabinets with granite countertops and stainless steel appliances. The master suite has spacious walk-in his and her closets and a private balcony which has wonderful views of the canal.

There is 100 ft. of canal frontage with a 70ft dock and a canal-side gazebo perfect for outdoor dining. Amenities include a laundry room, a 2 car garage plus enough room for a golf cart, an alarm security system, an electric front gate, hurricane impact windows and doors, and a storage room with water treatment equipment and a heater. Offered furnished.

Members at Old Fort Bay Club enjoy delicious lunch and dinner menus at the restaurant, which is recognized island-wide for its delicious and modern fare, fresh produce, and wonderful service with a staff who will remember not only your name, but also your drink order.

The club features a complete fitness center with state-of-the-art equipment, as well as satellite radio and flat screen TVs to entertain you while you work out. Families can enjoy time together at the swimming pool, and special events are held at the club's Pavilion, which has a rooftop garden offering stunning views.