Construction Loan Interest Calculator Excel, Draw Schedule Interest for Hard Money Flip Loans

Seller's description

Hard money loan, $150,000, 5 draws: $11,384.05 interest as drawn vs $13,177.10 on the full amount. Excel calculator for flippers and owner-builders. (All figures here are example numbers.)

Most hard-money and construction loans charge interest only on money the lender has released, not on the whole loan. Your payment changes every time a draw lands. This workbook adds up the interest day by day for each draw, so you can see what each month should cost before the lender's statement arrives.

WHAT IT SOLVES
- House flippers on hard-money loans who want a monthly interest number for the budget.
- Owner-builders on a construction loan who release funds in stages.
- Anyone who wants to check a lender statement against their own math.

HOW TO USE IT (3 steps)
1. Loan Setup tab: enter the loan amount, rate, close date, term, points, per-draw fee and interest reserve. Pick a 360 or 365 day year and anniversary or calendar-month periods.
2. Draw Log tab: enter each draw date and amount (12 rows).
3. Read Interest by Month for each period's interest and balance. On Statement Check, type in what the lender billed and see the difference.

WHAT IS INCLUDED
- Draw-Loan-Interest-Calculator.xlsx, filled with example numbers so you can see how it works
- A blank copy of the same workbook
- HOW-TO-USE.pdf (2 pages)
- Tabs: Start Here, Loan Setup, Draw Log, Interest by Month, Statement Check
- Interest on money drawn so far, side by side with interest on the full commitment, with the dollar difference
- Points, per-draw fees, total cost and payoff date
- Interest reserve check: shows if the reserve runs short. Interest paid from the reserve is not added to the drawn balance or the loan limit.
- Flags for draws over the loan amount, before closing, after payoff, out of date order, or missing a date

EXAMPLE NUMBERS ($150,000 at 11.5%, 360-day year, 9 months, 2 points, $150 per draw, $12,000 reserve, 5 draws totaling $147,000)
- Interest as drawn: $11,384.05 (about $1,264.89 a month)
- Interest on the full commitment: $13,177.10, which is $1,793.05 more
- Points $3,000, draw fees $750, total cost $15,134.05
- Reserve left over: $615.95 as drawn
These are example numbers. Your loan will differ.

WHAT THIS DOES NOT DO
- It does not know your lender's rules. Minimum interest, default rates, extension fees, and other charges are not built in.
- Its result may differ from your lender's statement by a few dollars or more. Use it to check and plan, then confirm with the lender.
- It does not track construction costs or the budget. It only works out loan interest and fees.
- It is not a loan offer, a quote, or a payoff statement.

FILE DETAILS
- Excel file (.xlsx), instant digital download. Works in Microsoft Excel. Not tested in Google Sheets.
- Nothing is mailed. No refunds on digital files; message me first if something does not open.

Not financial, tax or legal advice.