Estimate your total project cost, loan amount, cash needed, and payments in under a minute.
Built by Ken Clark Jr., Certified Mortgage Advisor with PRMG. Estimates only, no contact information required.
Short answer: enter your land, budget, closing costs, and as-completed value to estimate total project cost, a maximum loan, cash needed or land equity credit, and payments. These are estimates only.
Estimates only. Nothing is stored or sent.
Based on what you entered, these are rough numbers to bring to a project review. Which financing structures may be worth evaluating depends on your occupancy, credit, and home type; try the construction loan finder.
Estimates only. This calculator is educational and is not a loan approval, commitment to lend, rate quote, or Loan Estimate. Actual loan amounts depend on the appraisal, program guidelines, county loan limits, credit, income, and underwriting. Payments shown are principal and interest only and exclude taxes, insurance, mortgage insurance or funding fees, and HOA dues. The construction-period payment assumes an average of 50% of the loan drawn; many FHA and VA one-time close loans have no payments during construction because the builder pays interim interest. Nothing you enter is stored or sent.
Short answer: it applies your target loan-to-value to the right value basis, depending on whether you are buying the land or already own it.
Read more on land equity and the draw process.
Short answer: pick the one that matches the program you are most likely to use, then try one step lower to see the difference.
| LTV | Commonly associated with |
|---|---|
| 80% to 85% | Conventional, jumbo, and many investor structures |
| 90% | Conventional one-time close with stronger credit |
| 96.5% | FHA one-time close for eligible borrowers |
| 100% | VA for eligible veterans with full entitlement, or USDA for eligible buyers |
County loan limits still apply. The 2026 conforming baseline is $832,750. Not sure which program fits? Try the construction loan finder.
Short answer: the appraisal, the contingency, and the carrying costs.
When the as-completed value comes in below cost, the loan is sized to value, and the gap becomes cash. I also like to see a realistic contingency in the builder's budget and a plan for property taxes and rent during the build. Run the calculator with a value 5% lower than you expect. If that still works, you are in good shape to start the conversation. See construction loan cost overruns.
Short answer: save your numbers, check which programs may fit, and book a review.
Answered by Ken Clark Jr., Certified Mortgage Advisor. Program availability and requirements vary and are subject to change.
No. It is an estimate for education only. Actual loan amounts depend on the appraisal, program guidelines, county loan limits, and underwriting.
Many single-close programs size the loan on the lesser of total cost or as-completed value when you are buying the lot, so you do not borrow more than the project costs.
When you own the land, the loan is commonly based on as-completed value, and your land equity can work like a down payment credit.
It depends on the program. On many FHA and VA one-time close loans, the builder pays interim interest. Conventional one-time close commonly has interest-only payments on drawn funds.
Funds are drawn as work is completed, so the balance grows over the build. Half the loan is a rough average for estimating.
No. The payment shown is principal and interest only. Taxes, insurance, mortgage insurance or funding fees, and HOA dues are extra.
100% financing may be available for eligible veterans with full entitlement on VA, or eligible USDA buyers, subject to underwriting.
No. It runs in your browser and does not collect or send your information.
Guidelines change. Verify current program requirements with Ken Clark Jr. before relying on them for a transaction.
Disclaimer: This content is for educational purposes only and is not a commitment to lend, a guarantee of approval, or a rate quote. Loan programs, down payment requirements, terms, and eligibility depend on borrower, property, project, builder, and program qualifications, are subject to underwriting, and vary by state. Not all applicants or projects will qualify. Builder registration is a documentation review for program eligibility and is not an endorsement of any builder. Equal Housing Opportunity. Paramount Residential Mortgage Group, Inc. (PRMG), NMLS #75243. Ken Clark Jr., NMLS #225375. PRMG is licensed in 49 states, excluding New York.
Certified Mortgage Advisor and Branch Manager at PRMG Mortgage (NMLS #75243). 28 years in mortgage lending. Specializes in FHA, VA, conventional, DPA, jumbo, Non-QM, renovation, and construction financing for buyers and investors in Sacramento, New Jersey, and nationwide. PRMG is licensed in 49 states, excluding New York. Three-time Gold Award winner for Highly Reviewed Mortgage Team in Sacramento (2023, 2024, 2025). NMLS #225375.
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