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.

Pirate's Retreat is located on Arbour Island at the end of Old Fort Drive. It sits onpristine canal waterswith sea access just minutes away.

The main house with 3,726 Sq ft and 1,210 sq ft of balconies has 3 en suite bedrooms and a half bath.

Above the 2 car garage is a one bedroom one bathroom apartment including a kitchen.

The main house kitchen comes equipped with dishwasher, Corian countertops, micorwave and stainless appliances.

Ouside the living room is a pool with shower and private deck, a 95 foot dock that extends the length of the property, 2 gazebos and a small man made beach.

The house has a shared generator with the house next door or you can add another generator as all the hook ups are there. Outside there is a rainwater catchment and filtration system, and there is a covered area for outdoor dining.

This special house is quiet and private within the grounds of Islands of Old Fort.