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Estimate your construction loan payment before you build. Enter your project cost, down payment, and rates to see the interest-only payment during the build, the construction-phase interest, and your permanent mortgage payment after the loan converts.
Estimate only. Construction funds release in stages ("draws"), so you pay interest only on what has been disbursed — the average build payment is roughly half the full-draw amount. Rates, terms, and draw schedules vary by lender.
A construction loan releases money in stages as the home is built, and you pay interest only on the funds drawn so far. Early in the build little is drawn, so payments are small; they rise as construction progresses. Over the whole build, your average payment is roughly half the full-draw interest-only payment. When the home is complete, a single-close construction-to-permanent loan converts to a normal principal-and-interest mortgage — the "permanent payment" shown here.
Learn more in our construction loans in California guide and the construction loan program. Building an ADU? See ADU financing.
A construction loan doesn't work like a normal mortgage. Funds are released in draws as the build hits milestones — foundation, framing, finish — and you pay interest only on the amount drawn so far, not the full loan. That keeps payments low during construction. When the home is complete, the loan converts to (or is refinanced into) a permanent mortgage.
A one-time-close construction-to-permanent loan wraps both phases into a single closing, so you lock your rate once and pay one set of closing costs. In California, where lot and build costs run high, that structure can save real money. This calculator estimates both your interest-only construction payment and your permanent payment so you can budget the whole project. Call (949) 379-5320 to structure your build.
No. During the build you pay interest only on the funds drawn to date, so early payments are small and grow as more of the loan is disbursed. The full principal-and-interest payment starts once the loan converts to permanent financing.
It combines the construction loan and the permanent mortgage into a single closing. You lock your rate and pay closing costs once, instead of closing twice — reducing cost and rate risk on a California build.
During construction you pay interest only on the funds drawn so far: drawn balance × annual rate ÷ 12. Because funds release in stages, your average payment over the build is roughly half the full-draw interest-only payment. After completion the loan converts to a normal principal-and-interest mortgage.
It equals the amount drawn times the annual construction rate divided by 12. This calculator shows both the full-draw interest-only payment and the lower average payment during the build, since you only pay on what has been disbursed.
Most California construction and construction-to-permanent loans require 10–20% down, based on total project cost or the completed appraised value. Enter your percentage to see the resulting loan amount and payments.
Yes. It estimates your interest-only payment during the build and your fully-amortizing principal-and-interest payment once a single-close construction-to-permanent loan converts to your mortgage.
We shop construction and construction-to-permanent lenders to find your best rate. Free quote, no credit pull to start.