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 (LTV: 75.0%)
Project Summary
Total Project Cost$600,000
Down Payment$150,000
Construction Period12 months
Interest Rate7.25%
Cost Breakdown
Total Interest Cost$16,312.5
Monthly Interest (avg)$1,359.375
Fees & Closing Costs$6,000
Total Project Cost$622,312.5
Construction Draw Schedule
| Stage | Progress | Draw Amount | Description |
|---|---|---|---|
1 Land Purchase | 0% | $150,000 | Initial land acquisition |
2 Foundation | 15% | $67,500 | Foundation and basement complete |
3 Framing | 25% | $112,500 | Framing and roof structure complete |
4 Lock-up | 40% | $180,000 | Exterior complete, windows/doors installed |
5 Mechanical | 60% | $270,000 | Plumbing, electrical, HVAC rough-in |
6 Drywall | 75% | $337,500 | Insulation and drywall complete |
7 Flooring | 85% | $382,500 | Flooring, cabinets, fixtures installed |
8 Final | 95% | $427,500 | Final inspections and occupancy permit |
9 Completion | 100% | $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