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.

Situated in the Fountain Bay Resort on the peaceful and picturesque Cat Island, this charming duplex presents a wonderful opportunity for both investment and island living. Each unit offers 2 bedrooms and 1 bathroom, with bright, open living spaces that capture refreshing breezes and sweeping sea views.

The lower unit features a spacious wrap-around porch and deck, perfect for relaxing, entertaining, or enjoying outdoor dining against the backdrop of the ocean. The property sits on a generous lot with ample room for expansion, offering the potential to add additional units, create more outdoor living areas, or develop the grounds into a larger income-producing property.

With its elevated position, proximity to the beach, and tranquil setting, this duplex combines comfort, convenience, and growth potential. Whether you are seeking a vacation retreat, rental investment, or a quiet island home, this Cat Island property provides the perfect foundation.