To submit a draw, you will login to our online portal and complete a Draw Request form listing the specific items of work you’ve completed and the associated cost. Learn how to upload requested documents on the TPO portal in our video here.
Below are tips for completing your draw request and receiving rehab funds quickly:
1. Can I ask for more funds than what was approved in my budget?
- No. You must submit your draw requests per your originally approved budget.
- If your costs go up, we will only issue draws from your original budget unless you have Contingency funds to cover overages.
2. How Can I access my Contingency Funds?
- Contingency requests require either completed work or proof of paid receipts for materials (requests greater than $5k will require an inspection).
3. Can I request a Change Order if my scope changes during construction?
- Yes. Minor and major modifications to the project scope will be processed and approved or denied at Temple View’s discretion through a “Change Request” in the portal.
4. When can I get my Final Draw?
- The Final Draw is a Reimbursement—project must be complete with an executed lien waiver with the approved General Contractor at loan closing.
5. When do I enter wiring information to receive funds?
- Wiring account information is entered by at least the primary guarantor in DocuSign after the draw has been reviewed and approved by Temple View.
6. When are funds wired into my account?
- Once the approved DocuSign is complete with all signatures, funds are wired within 1 business day (if received before 1pm EST funds are likely to be released the same day). Our Servicer BSI will call and confirm wiring information before releasing funds.
7. Do I need Approved Permits to access my rehab funds?
- Yes. If your local jurisdiction decides that the scope of work for your project requires a permit, you must send an approved permit with your draw request for review before funds will be released.
8. PAYOFF REQUESTS:
Active payoff requests will freeze the release of rehab funds until the payoff is voided by the borrower or expires with our vendor BSI.
BSI Contact Information: 1-888-482-7271
For Payoff Requests: email@example.com
**Please Include your BSI loan number in a ll communications for a quicker response.
9. Monthly Mortgage Status
- Please note all loan payments must be contractually current to move forward on draw requests.