Model interest payments on drawn funds with a custom draw schedule for new construction.
The Construction Loan Payment Calculator models how interest accrues on a construction loan as funds are drawn over time. Input your land cost, construction budget, and customize the draw schedule to see month-by-month interest charges. Compare draw-based interest vs. full-balance interest to see how much you save — and model an interest reserve to eliminate monthly out-of-pocket payments.
Adjust draw percentages and timing. Percentages should total 100%.
Total: 100%
Total Project Cost
$400,000
Loan Amount
$320,000
Interest Savings
$5,775
| Mo | Draw | Balance | Interest |
|---|---|---|---|
| 1 | +$55,000 | $155,000 | $1,356 |
| 2 | — | $155,000 | $1,356 |
| 3 | +$55,000 | $210,000 | $1,837 |
| 4 | — | $210,000 | $1,837 |
| 5 | +$55,000 | $265,000 | $2,319 |
| 6 | — | $265,000 | $2,319 |
| 7 | +$55,000 | $320,000 | $2,800 |
| 8 | — | $320,000 | $2,800 |
| 9 | — | $320,000 | $2,800 |
| Total Interest | $19,425 | ||
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