Enter Project Inputs
The calculator uses a responsive three, two, and one column form layout based on screen size.
Example Data Table
| Input | Example Value | Purpose |
|---|---|---|
| Land Cost | $120,000 | Captures site acquisition or land payoff included in the project budget. |
| Hard Costs | $480,000 | Represents labor, materials, structural work, and direct build expenses. |
| Soft Costs | $90,000 | Includes permits, design, legal work, insurance, and professional services. |
| Contingency | 8% | Adds a budget cushion for change orders and cost drift. |
| Borrower Equity | $150,000 | Shows the sponsor cash contribution before lender funding begins. |
| Construction Rate | 9.25% | Drives the estimated carrying cost on staged draws. |
| Draws | 6 | Splits the funding need into evenly timed disbursement checkpoints. |
| Takeout Terms | 7.10% for 30 years | Estimates the permanent monthly payment after project completion. |
Formula Used
Contingency Amount
(Hard Costs + Soft Costs) × Contingency %
Total Project Cost
Land Cost + Hard Costs + Soft Costs + Contingency Amount
Net Funding Need
Total Project Cost − Borrower Equity
Origination Fee
Net Funding Need × Origination Fee %
Total Financed Fees
Origination Fee + (Inspection Fee × Number of Draws) + Other Closing Costs
Loan Commitment
Net Funding Need + Total Financed Fees
Interest Carry
Σ(Draw Amount × Monthly Rate × Months Outstanding)
Takeout Balance
Loan Commitment + Interest Carry, when interest is capitalized
Monthly Permanent Payment
P × [r(1+r)n] ÷ [(1+r)n − 1]
How to Use This Calculator
- Enter land, hard, and soft costs for the full project budget.
- Add contingency, equity, construction rate, and construction term.
- Set the number of draws and choose a linear, front-loaded, or back-loaded funding pattern.
- Enter origination, inspection, and other closing costs.
- Provide permanent loan rate and amortization years for the exit payment estimate.
- Choose whether construction interest is capitalized or paid separately.
- Click the calculate button to display results above the form.
- Use the CSV and PDF buttons to export the results and draw schedule.
Frequently Asked Questions
1. What does this calculator estimate?
It estimates project cost, funding need, financed fees, interest carry, draw timing, loan-to-cost, projected takeout balance, and the permanent monthly payment after completion.
2. Why is contingency applied only to hard and soft costs?
Contingency usually protects construction and service budgets from overruns. Land is often a fixed acquisition cost, so many lenders exclude it from contingency calculations.
3. What is interest carry?
Interest carry is the estimated interest accrued during construction while draws are outstanding. It depends on the rate, draw size, timing, and total construction duration.
4. What does the draw pattern change?
It changes how the net funding need is distributed across draws. Front-loaded schedules increase earlier balances, while back-loaded schedules delay more borrowing until later stages.
5. What is loan-to-cost?
Loan-to-cost compares the loan commitment with total project cost. Lenders use it to measure leverage and determine whether borrower equity is sufficient.
6. Should construction interest be capitalized?
Capitalizing interest rolls estimated carry into the final balance. Paying it separately lowers the takeout balance but increases borrower cash needs during construction.
7. Is the permanent payment exact?
No. It is a planning estimate based on the projected balance, rate, and amortization. Final payment depends on actual lender structure, reserves, and closing adjustments.
8. Can I export the calculation results?
Yes. After calculating, use the CSV button for spreadsheet analysis or the PDF button for a clean report with summary values and the draw schedule.