Progressive Draw Calculator
Interest on Partial Draws
Calculate your construction loan interest based on actual drawn amounts—not the total loan limit.
Loan Details
$
Interest Summary
$28,275
Total construction interest (12-month project, interest-only on advanced funds)
Avg Monthly Interest:$2,356
Key Insight: You only pay interest on the amount actually drawn, not the full loan. This calculator shows your true carrying costs.
Draw Schedule & Interest Breakdown
| Month | Stage | Draw % | Draw Amount | Running Balance | Monthly Interest |
|---|---|---|---|---|---|
| 1 | Foundation Complete | 15% | $90,000 | $90,000 | $544 |
| 3 | Framing Complete | 25% | $150,000 | $240,000 | $1,450 |
| 5 | Lock-up Stage | 20% | $120,000 | $360,000 | $2,175 |
| 7 | Mechanical Rough-in | 20% | $120,000 | $480,000 | $2,900 |
| 9 | Interior Finishing | 15% | $90,000 | $570,000 | $3,444 |
| 11 | Final Completion | 5% | $30,000 | $600,000 | $3,625 |
Estimates only. Interest is simple monthly interest on the cumulative advanced balance; each draw accrues interest from its draw month to the end of the project. A statutory 10% lien holdback (BC Builders Lien Act, Ontario Construction Act, Alberta Prompt Payment and Construction Lien Act) is usually retained from each advance, which can shift timing.