Draw schedule

A draw is one release of loan money. The schedule names the stages of work that unlock each release. A typical list might follow steps such as foundation, framing and finish work, but the lender sets the real one.

The Consumer Financial Protection Bureau says the money from a construction loan is typically provided in a series of advances as the construction progresses. Ask your lender how it checks progress before it pays. Match the draw list to your contract, whether fixed-price or cost-plus. See the cost to build a custom home in Tampa for budget context.