Construction Loan Calculator
A construction loan is released in stages, so your repayment changes as you build. See the interest stage by stage, the most you may pay each month during the build, and your repayment once it finishes.
Your project
Enter 0 if you own the land outright.
Applied to the earliest stages first.
Progress payment stages
Example only. Enter the percentages from your building contract.
Check this against your actual project
A broker will call you back within 12 hours to go through your contract, stages and lender options.
Construction loan questions
How is interest calculated on a construction loan?
Usually on the amount drawn so far, not the full approved loan. Each progress payment increases the balance, so the monthly interest rises through the build. Lenders can differ, so check your loan terms.
Do I use my own money first?
Often, yes. Many lenders expect your own contribution to be spent before they release loan funds. This calculator applies your savings to the earliest stages first.
Are the stage percentages fixed?
No. The figures here are an example. Your building contract sets the real schedule, so enter your own percentages.
What does this calculator leave out?
It does not include lender fees, Lenders Mortgage Insurance, variations, valuation or inspection fees, or items outside the building contract. Allow extra for these and for delays.
How construction loans work
Progress payments, what lenders ask for, NSW insurance rules and the mistakes that delay a build.
Read the guideThis calculator provides general information only and produces an estimate, not a quote. It does not take into account your objectives, financial situation or needs. The interest rate and stages are examples, and actual timing, drawdowns, fees and repayments depend on your contract and lender. All loans are subject to lender approval.