A draw request form is the standard mechanism for accessing funds from a construction loan. Lenders require one at each project milestone before releasing any disbursement. Below is a breakdown of what this document covers and how it fits into the construction financing process.
Most lenders require attachments before processing any disbursement. Gather these materials before completing the form:
Submit a request at the end of each project phase. Common draw milestones for residential projects include foundation and site work, framing and exterior shell, rough mechanical and electrical, insulation and drywall, and final finishes and close-out. Commercial projects typically use monthly billing tied to a percentage of work completed.
General contractors file draw requests on behalf of their clients. Property owners building or renovating their own homes submit them directly when acting as owner-builder. Construction lenders use the completed form to verify progress and authorize payment.
| Question | Answer |
|---|---|
| Form Name | Construction Draw Request Form |
| Form Length | 1 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 15 sec |
| Other names | blank draw request form, construction draw request form, draw request form, construction draw request sample |
