Construction Loan Calculator
Use this calculator to help determine how much and what your payment would be for a construction loan.
Construction Loan Calculator Definitions
- Do you own the property?
- Please let us know if you already own the property.
- Price of property/land
- If you don't own the property (or land) please enter the price you will pay to purchase it.
- Cost of construction project
- Please enter the cost of the construction project you are planning.
- Value of home when complete
- Enter the expected appraised value of the home when your construction is complete.
- Down payment
- This is the calculated required down payment to receive the loan.
- Loan amount
- This is the calculated loan amount for your project.
- Interest rate
- enter the expected interest rate for your loan.
- Length of project (months)
- Number of months you expect your construction project to take to complete.
- Initial interest only payment
- The initial interest only payment is calculated as an interest only payment of the maximum loan minus the cost of construction.
- Final interest only payment
- The final interest only payment during construction is calculated as an interest only payment for the maximum loan amount.
- Principal and interest payment
- The principal and interest payment for the remainder of the 30 year term of the loan.