Home Improvement Loan Calculator

Calculate your new home improvement loan options below. Input your details and hit Calculate to view your loan terms and an interactive graph. Additionally, explore the detailed payment schedule in the table below, and download the data as an Excel or CSV file for your records.



Step 1: Select your loan type (Purchase or Refinance)
Step 2: Enter the cost of land and construction
Step 3: Provide loan and mortgage details
Step 4: Calculate your results

home improvement loan calculator
Monthly Loan Payment
Initial Construction Loan
First Interest Only Payment
Last Interest Only Payment
Amortization Schedule
Initial Balance
Interest Payment
Principal Payment
Ending Balance
Page Limit

The online home improvement loan calculator provided by busybusy is a tool designed for informational purposes only. While we strive to ensure accuracy, we do not guarantee the reliability or suitability of the results for any specific purpose. Users are solely responsible for the interpretation and application of the calculated information. busybusy disclaims any liability for actions taken or decisions made based on the results obtained from the calculator. It is recommended to consult with a qualified professional for precise construction calculations and decisions. By using this calculator, you acknowledge and accept these terms.

Home Improvement Loan Calculator Definitions


Refinance: The process of replacing an existing construction loan with a new one, often to secure more favorable terms or to convert the loan into a permanent mortgage.


Remaining balance: The amount of the construction loan or mortgage that is still unpaid, which decreases as you make payments.


Cost of construction: The total expense associated with building or renovating a property, including materials, labor, and other project-related costs.


Down payment: The initial payment made by the borrower when obtaining a construction loan or mortgage, usually a percentage of the total project cost.


Loan interest rate: The percentage at which the borrowed money accrues interest, impacting the overall cost of the construction loan or mortgage.


Length of project: The estimated duration for completing the construction or renovation project, which can influence the loan terms and interest rates.


Mortgage: A long-term loan used to finance the purchase or refinancing of a property, typically repaid in monthly installments.


Mortgage rate: The interest rate applied to a mortgage loan, influencing the monthly payments and overall cost.


Mortgage term: The predetermined time the borrower will repay the mortgage, such as 15, 20, or 30 years.


Monthly mortgage payment: The regular, usually monthly, installment paid by the borrower to cover the mortgage’s principal and interest.


First interest-only payment: The initial mortgage payment in which only interest is paid, without reducing the principal balance, standard in construction loans during the project’s development phase.


Initial construction loan: The loan obtained to finance the construction or renovation of a property before converting it into a permanent mortgage.


Last interest-only payment: The final interest-only payment made on a construction loan before transitioning to a traditional mortgage payment structure.


Initial mortgage balance: The outstanding loan amount at the beginning of the mortgage term, usually equal to the original loan amount.


Construction loan amortization: The process of gradually paying off the construction loan by making regular payments, which include both principal and interest, until the loan is fully repaid.

Home Improvement Loan Calculator

Did you see “Download Excel” or “Download CSV”? If you would like a more detailed report hit “Download Excel” or “Download CSV” to get a detailed report in a spreadsheet format.

Advantages of a Home Improvement Loan Calculator for Construction Companies


Accurate Loan Estimations

Construction companies can swiftly estimate the cost of new construction loans or refinancing options. This tool enables precise budgeting, helping companies ensure they are financially prepared for their construction projects.


Enhanced Financial Planning

With this calculator, you can gain insights into your loan terms and monthly payments. It empowers you to make informed financial decisions and optimize your project’s budget, potentially saving costs in the long run.


Visualize Your Loan Options

A construction loan calculator provides a clear overview of your loan choices. Construction companies can use this tool to compare different loan scenarios and select the most suitable option for their specific project needs, leading to better decision-making and project success.