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.

Exquisite Caribbean designed 1250 sq foot home has 120 feet of sugary sand beachfront with a 625 square foot open plan living room and kitchen opening to a 600 square foot screened room all facing west so you get a sunset view every day and a green flash most days.
Two air conditioned master suites with en-suite baths also face the sea.
The outdoor shower is a delightful experience in itself.
Constructed with all cypress exposed ceilings that soar to 18 feet high in the main room and 14 feet high in the bedrooms. The Hardiplank siding is freshly painted and very low maintenance. There are functional hinged hurricane shutters on the patio doors and the windows are all hurricane rated.

Wilson Bay Beach is 1/4 mile long and protected by a reef so you can snorkel out from your beachfront Tiki and see the underwater corals and fish.

Out back there is an outdoor bbq area with a big green egg smoker and a Weber gas grill, enclosed by a pergola, with water and electricity installed.
The 850 square ft garage is big enough for a 26 ft boat and a car.

Across the road there is another 1/2 acre lot with a well that supplies an R/O system and a 3,500 gallon holding tank for water. City water is also available and just needs to be connected if this is preferred.

This house and garden is well maintained and is a rare find in Cat Island!