Construction Draw Calculator
Construction-to-Permanent Financing
Calculate your construction loan draws, interest costs, and timeline for your building project with our comprehensive calculator.
Construction Project Details
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20%25%50%
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6 months12 months24 months
Construction Loan
$450,000
Total loan amount (loan-to-cost: 75.0%)
Project Summary
Total Project Cost$600,000
Down Payment$150,000
Construction Period12 months
Interest Rate7.25%
Cost Breakdown
Total Interest Cost$20,391
Monthly Interest (avg)$1,699
Fees & Closing Costs$6,000
All-in Cost (incl. interest & fees)$626,391
Construction Draw Schedule
| Stage | Progress | Draw Amount | Total Advanced | Description |
|---|---|---|---|---|
1 Land Purchase | 0% | $112,500 | $112,500 | Initial land acquisition |
2 Foundation | 15% | $50,625 | $163,125 | Foundation and basement complete |
3 Framing | 25% | $33,750 | $196,875 | Framing and roof structure complete |
4 Lock-up | 40% | $50,625 | $247,500 | Exterior complete, windows/doors installed |
5 Mechanical | 60% | $67,500 | $315,000 | Plumbing, electrical, HVAC rough-in |
6 Drywall | 75% | $50,625 | $365,625 | Insulation and drywall complete |
7 Flooring | 85% | $33,750 | $399,375 | Flooring, cabinets, fixtures installed |
8 Final | 95% | $33,750 | $433,125 | Final inspections and occupancy permit |
9 Completion | 100% | $16,875 | $450,000 | Project complete, convert to permanent |
Construction Loan Requirements
• Minimum 20-25% down payment required for construction loans
• Detailed construction plans and permits must be approved
• Licensed contractor with proper insurance required
• Interest-only payments during construction phase
• Automatic conversion to permanent mortgage upon completion
• Regular inspections required before each draw release
• Construction must be completed within agreed timeline