The only change in the loan after your home is complete is the payment. During construction it is interest only based on balance owed and after construction it changes to principal and interest. The actual P&I payment will be determined by the final balance of the construction loan and the remaining term of the loan.

This change occurs after you take your final draw and the inspection confirms your project is complete per the plans and specs. It will then generally be 30-45 days when the change occurs.