How much can I borrow for construction?
Start from the payment you can afford. The calculator reverses the amortisation formula: maximum loan = monthly payment x ((1+r)^n – 1) / (r(1+r)^n), where r is the monthly rate and n is the number of payments. At 6% over 30 years, a $1,800 monthly payment supports a loan of $300,224.91.
That is the loan amount before any down payment — add your down payment on top for your total construction budget. A bigger down payment does not change the maximum loan, but it raises the total budget and usually means a better rate.
Your credit score, income, existing debts and the value of the finished build all affect what a lender will actually approve, so treat this as a planning figure. Already know the loan amount? Use the construction loan monthly payment calculator or the full construction loan calculator.