Construction loan servicing
The balance changes with every draw. The interest math keeps up.
Construction loan servicing on the same platform as your draws: interest due, statements, reserve draws, and payoff amounts, all calculated on the outstanding balance. No side spreadsheets, no second system.
Servicing
Outstanding balance
$412,880
Interest this month
$2,325
On the actual balance
This month, posted automatically
- Progress draw approved
- $48,200
- Statement generated
- Jun 1
- Payoff amount
- Ready
Servicing where the draws live
Your interest math, handled automatically.
Because draws are approved on this same platform, servicing works from the same amounts and dates, so there's no need to recalculate interest by hand. Nothing gets re-entered, your draw balances and servicing balances are the same numbers, and recurring transactions post automatically.
Draw approved
Progress draw+$96,300
June 10
Servicing, updated
Outstanding balance$509,180
Interest this month$2,763
Automated transactions
Interest due and late fees post automatically, by the rules you set for each program. Borrower payments are recorded right alongside them, so each loan's balance stays current.
Statements you design
Set the statement for each loan program: your logo, the sections you show, the payment due date, late fees, and your own payment instructions or compliance language. Statements generate in a monthly batch or one loan at a time.
Interest set to your note
A 360- or 365-day year, monthly or quarterly posting, and fixed or adjustable rates with index, margin, floor, and ceiling. Use integrated prime rate indexes or your own custom indexes.
Faster answers, easier payments
Payoff amounts on demand.
Each statement shows the loan payoff amount as of the day it generates, and your team can generate a statement for any loan at any time. When a borrower asks for a payoff figure, your team has it without rebuilding the math.
- Make statements available to borrowers digitally in OneSite, your branded portal. If you mail paper statements, print them from the platform
- Remind borrowers their statement is ready, one at a time or in bulk, with message templates
- Include payment links from your provider so borrowers can pay you online
Payoff amount
As ofJun 30
Payoff amount$511,943
On demand
Questions lenders ask
What does construction loan servicing software do?
It handles the recurring servicing work on a construction loan whose balance changes with every draw: interest due posts automatically, with optional payment from an interest reserve, late fees can post on their own, your team logs borrower payments individually or in bulk, monthly interest billing statements generate on schedule, and payoff amounts are available on demand on any statement.
How is interest calculated on a construction loan in Land Gorilla?
On the outstanding balance, based on the draws approved in the platform and the terms you set. Interest is calculated automatically, without re-entering draws. Use integrated prime rate indexes or manage your own adjustable indexes.
Does it handle interest reserves?
Yes. If a loan has an interest reserve, you can have interest due paid from it automatically, alongside draws and interest due.
How do we get a payoff amount?
Generate a statement for the loan at any time. Each statement shows the loan payoff amount as of the day it generates, along with principal and interest due. Statements are made available to borrowers in OneSite, your branded portal, or printed by your team for mail, with payment links from your provider so borrowers can pay you online.
Start here
Ready to up your construction lending game?
Tell us about your program, and a construction lending specialist will show you how the platform fits the way you lend.