Calculate interest-only payments during construction, model your draw schedule by phase, and see permanent mortgage costs after conversion.
Enter your construction loan parameters
Permanent Mortgage (after conversion)
Interest-only payments during construction phase (on drawn balance)
Interest-Only Payment
I = Balance × (Rate/12)
Monthly Mortgage
M = P×r(1+r)ⁿ/((1+r)ⁿ-1)
LTV Ratio
LTV = Loan / Value × 100
Draw Interest
Charged on drawn balance only