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.

Welcome to an extraordinary canal-front family residence nestled within the prestigious Old Fort Bay community. This generously proportioned home spans an impressive 5,750 sq. ft. under its roof, offering 5 bedrooms, 5 ½ baths, a private study, a welcoming family room, an elegant living and dining room combination, and a covered verandah enhanced with roll-down shutters and electric screens. Not to mention, a refreshing pool with a captivating water feature to elevate your outdoor experience.

Positioned on a spacious 11,713 sq. ft. lot, this villa-style abode enchants with Venetian archways and is embraced by a lush landscape of mature palm trees and tropical flora. The living spaces are adorned with elegant travertine flooring, while the bedrooms and study feature luxurious hardwood finishes. The well-appointed kitchen boasts maple cabinets, granite countertops, and top-of-the-line stainless steel appliances with a delightful breakfast nook.

The master suite is a true sanctuary, offering spacious walk-in closets for both him and her, as well as a private balcony unveiling breathtaking canal vistas.

An exceptional 100 ft. of canal frontage includes a 70ft dock and a charming canal-side gazebo, perfect for al fresco dining. Additional highlights of this remarkable home include a laundry room, a 2-car garage with ample space for a golf cart, an alarm security system, an electric front gate, hurricane impact windows and doors, and a storage room equipped with water treatment facilities and a heater. This distinguished property is offered fully furnished, ensuring a seamless transition into the lap of luxury.

Residents of Old Fort Bay Club enjoy a world of culinary delights, with the club's restaurant renowned island-wide for its delectable and modern fare, fresh produce, and impeccable service. The attentive staff not only remembers your name but also your preferred libations, making every visit a personalized experience.

The club's amenities are equally impressive, featuring a comprehensive fitness center equipped with state-of-the-art equipment, satellite radio, and flat screen TVs for your entertainment during workouts. Families can cherish quality time by the inviting swimming pool and beach, while special events unfold at the club's Pavilion, complete with a rooftop garden offering breathtaking vistas.

Don't miss the opportunity to make this immaculate house your home, where luxury living seamlessly blends with the charm of Old Fort Bay. Contact us today to schedule a private showing and explore the unparalleled lifestyle that awaits you in this exceptional residence.