K = 1,000

$1,000 Loan Amortization

Loan amortization liquidates an obligation over time.

The K-Factor calculator provides a monthly payment that will pay off a $1,000 loan over a designated time period.

For example, input 6.0% and 30 years and the calculator provides a $5.996 answer. Rounded to $6.00, this payment will payoff the $1,000 loan in thirty years or less.

To calculate a P&I payment based on any loan amount, it is just a matter of dividing the loan amount by $1,000 and multiplying that number by the K-Factor to determine the monthly P&I payment. Using the K-Factor, you can reverse the above calculation to determine the loan amount associate with a P&I based on available net monthly income.

You need to be a RELDT® member to use the K-Factor calculator.