Construction Loan Calculator
Estimate your construction loan costs, draw schedule payments, and total interest during the build phase.
For educational purposes only. Not financial advice. Consult a licensed mortgage professional.
Loan Type
Project Details
Total Project Budget
Down Payment
Auto-set to 20% — editable
Land Value
Counts toward down payment
Contingency Buffer
Safety net for surprises
Pre-Construction Costs
~8% of budget · paid before breaking ground
Loan Terms
Interest Rate
5.75%Example rate for planning purposes only. Actual rates are determined by your lender.
Construction Period
12 months🏠 How construction loans work: A construction loan typically begins after permits have been issued and you're ready to break ground. If you're purchasing land first, you may need a separate lot loan to hold the land — interest on the construction loan itself doesn't start until draws begin. Once construction is complete, the loan converts to a permanent mortgage.
Built Specifically for Construction Loans
Most mortgage calculators ignore draw schedules, interest-only periods, and land equity — the factors that actually determine your construction loan payment. Ours doesn't.
- Draw schedule modeling across every build phase
- Interest-only payments during construction
- Land equity counted toward your down payment
- Dedicated renovation loan mode
- Mobile-first design — works on any device
Learn More About Construction Financing
How We Calculate
Interest-only payments: Computed monthly on disbursed funds only, using the standard I/O formula (Outstanding Balance × Annual Rate ÷ 12). This is the same method used by major construction lenders.
Draw schedules: Modeled after the NAHB (National Association of Home Builders) 5-phase construction milestone framework — foundation, framing, mechanical rough-in, interior finishes, and final completion.
Lot loan estimates: Based on typical lot loan terms — 25% down payment, +0.5% above construction loan rates, with standard amortization.
Last updated: March 2026 · Built by Buildable, a team helping homeowners navigate construction planning and financing with educational tools. Your data stays private — we don't store calculator inputs unless you choose to save your estimate.
For educational purposes only. Not financial advice. Consult a licensed mortgage professional.