- Borrower should have funds to begin initial repairs
- Draw fee is $150 per draw
- Up to five draws allowed
- Improvements must be inspected prior to draw being issued
- No charge for inspections
- Proof of paid receipts and invoices must be provided
- Final draw will not be funded until the project is completed
- If permits required, borrower may be required to get approvals or pass inspection before draw is issued
Posted in: