Construction · Draw schedule & interest reserve
Model your construction draws and interest reserve.
Month-by-month outstanding balance, interest accrual, and cumulative draws across your construction term. Sizes the interest reserve and checks the takeout against your expected permanent loan. Reflects the July 3, 2025 removal of MLI Market Rental holdbacks — construction can now advance to 85% without a rental-achievement holdback.
Informational benchmark for the maximum loan-to-cost the lender/insurer will advance during construction. MLI Market Rental supports 85% post-July 3 2025. This setting does not cap the loan amount in the schedule — it only flags an advisory warning when your inputs exceed it.
Loan-to-cost at inputs: 85.00%
Capitalize interest (interest reserve)
Interest adds to the outstanding balance each month instead of being paid in cash.
Closing0% of term → 10% drawn
25% complete25% of term → 25% drawn
50% complete50% of term → 50% drawn
75% complete75% of term → 75% drawn
Substantial completion90% of term → 85% drawn
Rental achievement / stabilization100% of term → 100% drawn
Interest reserve required
$1,699,215
Total interest accrued over 24-month term
Takeout required
$22,949,215
Last-month balance (incl. capitalized interest)
Takeout surplus / shortfall
-$1,699,215
Expected takeout $21,250,000 − required
| Mo | Phase | Cum % | Draw | Cum drawn | Interest | End balance | Cum interest |
|---|---|---|---|---|---|---|---|
| Close | Closing | 10.0% | $2,125,000 | $2,125,000 | $0 | $2,125,000 | $0 |
| 1 | 25% complete | 12.5% | $531,250 | $2,656,250 | $16,048 | $2,672,298 | $16,048 |
| 2 | 25% complete | 15.0% | $531,250 | $3,187,500 | $19,355 | $3,222,903 | $35,403 |
| 3 | 25% complete | 17.5% | $531,250 | $3,718,750 | $22,681 | $3,776,834 | $58,084 |
| 4 | 25% complete | 20.0% | $531,250 | $4,250,000 | $26,028 | $4,334,112 | $84,112 |
| 5 | 25% complete | 22.5% | $531,250 | $4,781,250 | $29,395 | $4,894,757 | $113,507 |
| 6 | 25% complete | 25.0% | $531,250 | $5,312,500 | $32,782 | $5,458,789 | $146,289 |
| 7 | 50% complete | 29.2% | $885,417 | $6,197,917 | $38,330 | $6,382,536 | $184,619 |
| 8 | 50% complete | 33.3% | $885,417 | $7,083,333 | $43,911 | $7,311,863 | $228,529 |
| 9 | 50% complete | 37.5% | $885,417 | $7,968,750 | $49,525 | $8,246,805 | $278,055 |
| 10 | 50% complete | 41.7% | $885,417 | $8,854,167 | $55,174 | $9,187,395 | $333,229 |
| 11 | 50% complete | 45.8% | $885,417 | $9,739,583 | $60,857 | $10,133,668 | $394,085 |
| 12 | 50% complete | 50.0% | $885,417 | $10,625,000 | $66,574 | $11,085,659 | $460,659 |
| 13 | 75% complete | 54.2% | $885,417 | $11,510,417 | $72,325 | $12,043,401 | $532,984 |
| 14 | 75% complete | 58.3% | $885,417 | $12,395,833 | $78,112 | $13,006,929 | $611,096 |
| 15 | 75% complete | 62.5% | $885,417 | $13,281,250 | $83,933 | $13,976,278 | $695,028 |
| 16 | 75% complete | 66.7% | $885,417 | $14,166,667 | $89,789 | $14,951,485 | $784,818 |
| 17 | 75% complete | 70.8% | $885,417 | $15,052,083 | $95,681 | $15,932,583 | $880,499 |
| 18 | 75% complete | 75.0% | $885,417 | $15,937,500 | $101,609 | $16,919,608 | $982,108 |
| 19 | Substantial completion | 77.8% | $590,278 | $16,527,778 | $105,789 | $17,615,675 | $1,087,897 |
| 20 | Substantial completion | 80.6% | $590,278 | $17,118,056 | $109,994 | $18,315,947 | $1,197,891 |
| 21 | Substantial completion | 83.3% | $590,278 | $17,708,333 | $114,225 | $19,020,450 | $1,312,116 |
| 22 | Rental achievement / stabilization | 87.5% | $885,417 | $18,593,750 | $120,265 | $20,026,131 | $1,432,381 |
| 23 | Rental achievement / stabilization | 93.8% | $1,328,125 | $19,921,875 | $129,015 | $21,483,271 | $1,561,396 |
| 24 | Rental achievement / stabilization | 100.0% | $1,328,125 | $21,250,000 | $137,819 | $22,949,215 | $1,699,215 |