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What is a Draw?

April 26, 2017draw

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What is a Draw?

3 Answers

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A Draw is a request to have funds disbursed from your construction loan. Your disbursements are intended to cover specific expenses incurred during your home’s construction, as itemized in the Cost Breakdown section of your Construction Loan Agreement. Construction expenses fall under two basic categories: direct and indirect costs. This distinction is important to keep in mind as disbursement procedures differ for direct and indirect costs.

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Posted

A Draw is a request to have funds disbursed from your construction loan. The disbursements are intended to cover specific expenses incurred during your home’s construction. Construction expenses fall under two basic categories: direct and indirect costs.

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Posted

A draw is the disbursement of funds to cover work that has been completed by the builder. Funds are issued after a request is submitted by the customer or the builder.