Skip to main content
Tools · Construction & bridge

Construction & Bridge Carry

Analyze short-term carry costs and exit viability. Calculates progressive-draw interest reserves and ensures the permanent takeout loan can retire the bridge note.

How to use: size the build and the bridge note on the left, then project the stabilized rent and the takeout rate. The exit verdict and the carry ledger update as you type.

How the number is built
01
Loan to Cost
Bridge loan amount over total project cost — land, hard costs and soft costs.
02
Interest reserve
Interest-only on the average 50% draw, carried across the construction term.
03
Exit DSCR
Projected stabilized rent over the takeout payment plus escrows, on a 30-year amortization.
04
Takeout test
The permanent loan must retire the bridge note at a 1.00x DSCR floor.
Live underwriting

The permanent takeout retires the bridge note.

$750,000 bridge at 10.5% over 12 months · $1,000,000 total project cost.

Deal inputs

Everything recalculates as you drag — nothing to submit.

Construction phase
Total Project Cost (LTC Basis)$1,000,000
Bridge Loan Amount$750,000
Bridge Note Rate (IO)10.5%
Construction Term (Months)12
Stabilized exit
Projected Stabilized Rent$9,000
Stabilized Escrows (Tax/Ins/HOA)$1,200
Exit Takeout Rate7%
Held fixed
50% average draw · 30-year takeout amortization · 1.00x exit DSCR floor
Exit takeout viability
1.45xStabilized DSCRVIABLE
0.00x1.00x floor
Takeout retires bridge?YES
Bridge carry & LTC
Peak IO payment (100% drawn)$6,562/mo
Takeout payment + escrows$6,190/mo
Required interest reserve$39,375
Assumes 50% avg draw over 12 months
Loan to Cost (LTC)75.0%
0%85% ceiling
Assumptions & limits
Held fixed

The interest reserve assumes a 50% average draw across the term. The takeout is sized to the bridge amount on a 30-year amortization and measured against a 1.00x exit DSCR floor.

Carry, not cash flow

Construction and bridge debt carries no day-one rent. The reserve is what the note costs before the property earns anything.

Not a commitment

Indicative only, and subject to full underwriting. Not a rate lock or credit approval.