Construction Finance Calculator

Display currencyFormatting only. This does not change the calculation.

Loan amount

Annual interest rate (%)The nominal annual rate (APR before fees), not the monthly rate.

Loan term (years)

Term - additional monthsAdded to the term in years, for terms such as 5 years and 6 months. To state a tenure purely in months, set the years to 0 and enter the whole tenure here.

Payment frequency

Extra payment each period Additional principal paid on top of the scheduled payment.

Include the amortisation schedule

Balloon payment due after (years)Commercial, land and construction loans are commonly written on a long amortisation but fall due earlier, with the remaining balance repaid in one balloon payment. Leave at 0 for a fully amortising loan.

Origination fee or points (%)A percentage of the loan withheld at closing. Enter the figure your lender quotes - fee schedules differ by lender and by programme.

Other fees deducted at closing Guaranty, packaging, survey or documentation fees withheld from the advance rather than paid separately.

Payment

2,236.72

Loan Payment Calculator

Total interest

236,812.49

Total of payments

536,812.49

Number of payments

240

Payoff time

20 years

Rate per period

0.541667 %

Interest per unit borrowed

0.7894

Interest saved by extra payments

Payments saved

Loan amount

300,000.00

Annual interest rate

6.5 %

Months to repay

240

Fees deducted at closing

0.00

Net amount advanced

300,000.00

APR

6.5 %

Worked out from Standard annuity-immediate payment formula, PMT = P i / (1 - (1+i)^-n) and 4 other sources.

How this is worked out

3 steps

Rate per period = 6.5% / 12 = 0.541667%
Payment = P i / (1 - (1+i)^-n) = 2236.72
Over 240 payments the total paid is 536812.49, of which 236812.49 is interest.

Amortisation scheduletable

period	payment	interest	principal	balance
1	2,236.72	1,625	611.72	299,388.28
2	2,236.72	1,621.69	615.03	298,773.25
3	2,236.72	1,618.36	618.36	298,154.89
4	2,236.72	1,615.01	621.71	297,533.18
5	2,236.72	1,611.64	625.08	296,908.1
6	2,236.72	1,608.25	628.47	296,279.63
7	2,236.72	1,604.85	631.87	295,647.76
8	2,236.72	1,601.43	635.29	295,012.47
9	2,236.72	1,597.98	638.74	294,373.73
10	2,236.72	1,594.52	642.2	293,731.53
11	2,236.72	1,591.05	645.67	293,085.86
12	2,236.72	1,587.55	649.17	292,436.69
13	2,236.72	1,584.03	652.69	291,784
14	2,236.72	1,580.5	656.22	291,127.78
15	2,236.72	1,576.94	659.78	290,468
16	2,236.72	1,573.37	663.35	289,804.65
17	2,236.72	1,569.78	666.94	289,137.71
18	2,236.72	1,566.16	670.56	288,467.15
19	2,236.72	1,562.53	674.19	287,792.96
20	2,236.72	1,558.88	677.84	287,115.12
21	2,236.72	1,555.21	681.51	286,433.61
22	2,236.72	1,551.52	685.2	285,748.41
23	2,236.72	1,547.8	688.92	285,059.49
24	2,236.72	1,544.07	692.65	284,366.84
25	2,236.72	1,540.32	696.4	283,670.44
26	2,236.72	1,536.55	700.17	282,970.27
27	2,236.72	1,532.76	703.96	282,266.31
28	2,236.72	1,528.94	707.78	281,558.53
29	2,236.72	1,525.11	711.61	280,846.92
30	2,236.72	1,521.25	715.47	280,131.45
31	2,236.72	1,517.38	719.34	279,412.11
32	2,236.72	1,513.48	723.24	278,688.87
33	2,236.72	1,509.56	727.16	277,961.71
34	2,236.72	1,505.63	731.09	277,230.62
35	2,236.72	1,501.67	735.05	276,495.57
36	2,236.72	1,497.68	739.04	275,756.53
37	2,236.72	1,493.68	743.04	275,013.49
38	2,236.72	1,489.66	747.06	274,266.43
39	2,236.72	1,485.61	751.11	273,515.32
40	2,236.72	1,481.54	755.18	272,760.14
41	2,236.72	1,477.45	759.27	272,000.87
42	2,236.72	1,473.34	763.38	271,237.49
43	2,236.72	1,469.2	767.52	270,469.97
44	2,236.72	1,465.05	771.67	269,698.3
45	2,236.72	1,460.87	775.85	268,922.45
46	2,236.72	1,456.66	780.06	268,142.39
47	2,236.72	1,452.44	784.28	267,358.11
48	2,236.72	1,448.19	788.53	266,569.58
49	2,236.72	1,443.92	792.8	265,776.78
50	2,236.72	1,439.62	797.1	264,979.68
51	2,236.72	1,435.31	801.41	264,178.27
52	2,236.72	1,430.97	805.75	263,372.52
53	2,236.72	1,426.6	810.12	262,562.4
54	2,236.72	1,422.21	814.51	261,747.89
55	2,236.72	1,417.8	818.92	260,928.97
56	2,236.72	1,413.37	823.35	260,105.62
57	2,236.72	1,408.91	827.81	259,277.81
58	2,236.72	1,404.42	832.3	258,445.51
59	2,236.72	1,399.91	836.81	257,608.7
60	2,236.72	1,395.38	841.34	256,767.36
61	2,236.72	1,390.82	845.9	255,921.46
62	2,236.72	1,386.24	850.48	255,070.98
63	2,236.72	1,381.63	855.09	254,215.89
64	2,236.72	1,377	859.72	253,356.17
65	2,236.72	1,372.35	864.37	252,491.8
66	2,236.72	1,367.66	869.06	251,622.74
67	2,236.72	1,362.96	873.76	250,748.98
68	2,236.72	1,358.22	878.5	249,870.48
69	2,236.72	1,353.47	883.25	248,987.23
70	2,236.72	1,348.68	888.04	248,099.19
71	2,236.72	1,343.87	892.85	247,206.34
72	2,236.72	1,339.03	897.69	246,308.65
73	2,236.72	1,334.17	902.55	245,406.1
74	2,236.72	1,329.28	907.44	244,498.66
75	2,236.72	1,324.37	912.35	243,586.31
76	2,236.72	1,319.43	917.29	242,669.02
77	2,236.72	1,314.46	922.26	241,746.76
78	2,236.72	1,309.46	927.26	240,819.5
79	2,236.72	1,304.44	932.28	239,887.22
80	2,236.72	1,299.39	937.33	238,949.89
81	2,236.72	1,294.31	942.41	238,007.48
82	2,236.72	1,289.21	947.51	237,059.97
83	2,236.72	1,284.07	952.65	236,107.32
84	2,236.72	1,278.91	957.81	235,149.51
85	2,236.72	1,273.73	962.99	234,186.52
86	2,236.72	1,268.51	968.21	233,218.31
87	2,236.72	1,263.27	973.45	232,244.86
88	2,236.72	1,257.99	978.73	231,266.13
89	2,236.72	1,252.69	984.03	230,282.1
90	2,236.72	1,247.36	989.36	229,292.74
91	2,236.72	1,242	994.72	228,298.02
92	2,236.72	1,236.61	1,000.11	227,297.91
93	2,236.72	1,231.2	1,005.52	226,292.39
94	2,236.72	1,225.75	1,010.97	225,281.42
95	2,236.72	1,220.27	1,016.45	224,264.97
96	2,236.72	1,214.77	1,021.95	223,243.02
97	2,236.72	1,209.23	1,027.49	222,215.53
98	2,236.72	1,203.67	1,033.05	221,182.48
99	2,236.72	1,198.07	1,038.65	220,143.83
100	2,236.72	1,192.45	1,044.27	219,099.56
101	2,236.72	1,186.79	1,049.93	218,049.63
102	2,236.72	1,181.1	1,055.62	216,994.01
103	2,236.72	1,175.38	1,061.34	215,932.67
104	2,236.72	1,169.64	1,067.08	214,865.59
105	2,236.72	1,163.86	1,072.86	213,792.73
106	2,236.72	1,158.04	1,078.68	212,714.05
107	2,236.72	1,152.2	1,084.52	211,629.53
108	2,236.72	1,146.33	1,090.39	210,539.14
109	2,236.72	1,140.42	1,096.3	209,442.84
110	2,236.72	1,134.48	1,102.24	208,340.6
111	2,236.72	1,128.51	1,108.21	207,232.39
112	2,236.72	1,122.51	1,114.21	206,118.18
113	2,236.72	1,116.47	1,120.25	204,997.93
114	2,236.72	1,110.41	1,126.31	203,871.62
115	2,236.72	1,104.3	1,132.42	202,739.2
116	2,236.72	1,098.17	1,138.55	201,600.65
117	2,236.72	1,092	1,144.72	200,455.93
118	2,236.72	1,085.8	1,150.92	199,305.01
119	2,236.72	1,079.57	1,157.15	198,147.86
120	2,236.72	1,073.3	1,163.42	196,984.44

First 120 of 240 rows.

Yearly summarytable

year	interest	principal	endingBalance
1	19,277.33	7,563.31	292,436.69
2	18,770.79	8,069.85	284,366.84
3	18,230.33	8,610.31	275,756.53
4	17,653.69	9,186.95	266,569.58
5	17,038.42	9,802.22	256,767.36
6	16,381.93	10,458.71	246,308.65
7	15,681.5	11,159.14	235,149.51
8	14,934.15	11,906.49	223,243.02
9	14,136.76	12,703.88	210,539.14
10	13,285.94	13,554.7	196,984.44
11	12,378.15	14,462.49	182,521.95
12	11,409.59	15,431.05	167,090.9
13	10,376.16	16,464.48	150,626.42
14	9,273.5	17,567.14	133,059.28
15	8,096.98	18,743.66	114,315.62
16	6,841.68	19,998.96	94,316.66
17	5,502.3	21,338.34	72,978.32
18	4,073.25	22,767.39	50,210.93
19	2,548.48	24,292.16	25,918.77
20	921.56	25,918.77	0

Results are general information, not financial, tax, legal, medical or engineering advice.