Most loan officers with the banks, require owner-builders to submit an itemized estimate in order to secure a construction loan. This estimation process involves evaluating the cost of labor, materials, and other expenses necessary to complete the construction within a specified duration.Embarking on a significant construction project and in need of a residential construction loan estimate? You're in the right place. Calculate your new construction loan or refinance options below. Input your details and hit Calculate to view your loan terms and an interactive graph. I'm aware the bank can use the cost of the land as collateral (down-payment) for the loan. Use our free calculator today to get an idea of what a construction loan would cost based on your project.