Calculate construction costs, draw schedules, and final mortgage payments for your build.
$650,000
Land, construction & soft costs
$40,000
10% of construction cost
$690,000
Project total including contingency
$36,465
Interest during construction
$606,465
Including construction interest
$4,282
After construction completion
82.6%
Based on total project cost
Construction mortgages are advanced in stages (draws) as your build progresses. Interest is only charged on the amount drawn, but rates are typically higher during construction. After completion, the mortgage converts to a standard term at regular rates.