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Construction Loan Calculator
Estimate your construction loan payments — interest-only during the build phase, permanent mortgage after conversion, and total financing cost for construction-to-perm loans.
Construction Loan Calculator
Avg Monthly Interest (Construction)
$980.00
Max: $1,633.33/mo at full draw
Total Construction Interest
$11,760.00
12 months, 5 draws
Monthly Payment (Permanent)
$1,862.85
30-year fixed amortization
Total Cost of Financing
$752,384.92
Total interest: $402,384.92
| Purchase Option | Quantity | Est. Cost |
|---|---|---|
| Down Payment | $70,000.00 | |
| Construction Interest | $11,760.00 | |
| Principal Repaid | $280,000.00 | |
| Permanent Loan Interest | $390,624.92 |
Loan amount: $280,000.00 | Total interest: $402,384.92The construction phase costs $11,760.00 in interest, then converts to a 30-year mortgage at $1,862.85/month. A single-close construction-to-perm loan means one set of closing costs instead of two.
Construction-to-perm loans save on closing costsA single-close construction-to-permanent loan rolls both phases into one closing, typically saving $2,000 - $5,000 in duplicate appraisal, title, and origination fees compared to closing a construction loan and a separate permanent mortgage.
This calculator provides estimates for educational purposes only. Actual loan terms, rates, fees, and qualification requirements vary by lender. Always consult with a licensed mortgage professional before making financing decisions.