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BuildCalc
Building a home? Estimate your construction-phase and permanent loan payments.
Construction loans are short-term (6–18 months) loans that fund home building. You typically pay interest-only on drawn amounts during construction. Once the home is complete, the loan converts to a permanent mortgage (construction-to-permanent) or you refinance into a new mortgage. Rates are usually 1–2% higher than conventional mortgages.
Unlike a regular mortgage where you get the full amount upfront, construction loans disburse in draws as work is completed. Lenders require detailed plans, budgets, and inspections. Down payments are typically 20–25%. The interest-only phase keeps payments low during construction.
Estimate monthly payments with taxes, insurance, and amortization.
OpenProperty price, down payment, tenure — EMI, processing fee, and stamp duty & registration.
OpenCompare loan terms and see total interest paid.
OpenProject growth from deposits and compounding interest.
OpenWhat you entered
Convert the annual rate to a monthly rate
r = 7.5% ÷ 12= 0.6250%Total number of monthly payments
n = 5 years × 12= 60 paymentsApply the amortizing-loan formula
M = P × [r(1+r)ⁿ] / [(1+r)ⁿ − 1]= $500.95/moTotal paid over the full term
$500.95 × 60 payments= $30,056.92Total interest paid
$30,056.92 − $25,000.00 principal= $5,056.92Result
Monthly payment: $500.95
Over 5 years you'll pay $5,057 in interest on top of the $25,000 you borrowed — $30,057 total.