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Construction Loan Draw Request Form.pdf Free Download Here CONSTRUCTION DRAW REQUEST mo bank http://www.mobank.com/pdf/ConstREQ.pdf CONSTRUCTION DRAW REQUEST ... LOAN NO. DRAW NO. ... Print this form

How to fill out construction loan draw request

How to fill out a construction loan draw request:

Gather all necessary documentation:

1. Detailed construction plans and specifications
2. Construction and loan agreement
3. Construction budget and cost estimates
4. Proof of insurance
5. Building permits and approvals

Fill out the necessary forms:

1. Obtain the draw request forms from your lender or financial institution.
2. Provide your personal information, such as name, address, and contact details.
3. Specify the loan amount requested for the draw.
4. Detail the purpose of the draw, such as completing a specific phase or milestone in the construction process.
5. Provide any additional information or documentation required by your lender.

Attach supporting documents:

1. Include detailed invoices and receipts for the completed work or materials.
2. Attach any necessary lien waivers or releases from subcontractors or suppliers.
3. Include updated construction progress reports or inspections, if required.

Calculate the total amount of the draw:

1. Add up the costs of the completed work and materials.
2. Subtract any previous draws already received.
3. Determine the remaining funds needed to continue construction.

Review and double-check everything:

1. Ensure that all forms are completed accurately and legibly.
2. Double-check that all necessary documentation is attached.
3. Confirm that the request aligns with the terms and conditions of your construction loan agreement.

Who needs a construction loan draw request:

1. Individuals or companies undertaking a construction project that is financed through a construction loan.
2. Contractors or builders in charge of managing the construction project and dispersing funds accordingly.
3. Financial institutions or lenders providing construction loans.

For pdfFiller’s FAQs

What is construction loan draw request?

Construction loan draw request is a formal request made by the borrower to the lender to release funds from the construction loan for specific project expenses.

Who is required to file construction loan draw request?

The borrower or their authorized representative is required to file the construction loan draw request.

How to fill out construction loan draw request?

The construction loan draw request must include details of the expenses being requested for payment, along with supporting documentation.

What is the purpose of construction loan draw request?

The purpose of construction loan draw request is to request funds for project expenses incurred during the construction process.

What information must be reported on construction loan draw request?

Information such as project expenses, work completed, invoices, and receipts must be reported on the construction loan draw request.

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