A draw request is when a borrower accesses their approved construction loan funds in increments. These funds allow borrowers to regularly pay vendors, suppliers, contractors, and subcontractors.
On a rehab or new construction loan, Temple View will release the part of the loan dedicated to the renovation or construction project in stages. Each installment will be released to the borrower’s bank account after a particular draw stage and requirements are met. Generally, the period between the initial draw request and when a borrower receives funds is 3-4 business days.
After the borrower submits a draw request to Temple View, the review process begins. Temple View will review documents, order, and review inspections to verify the completion of the required construction work. It is customary to get a lien release from contractors (for each draw) who work on the project to mitigate the risk of future liens.
If you have questions about Temple View’s draw request process or Ground Up Construction loans, contact one of our Account Executives.
Due to the number of documents and reports needed for a draw request, paperwork can be difficult to manage and track when requesting a draw. To solve this problem, Temple View now offers an online draw management platform. You will be able to create your draw request, request third party access, and review your construction loan portfolio.
Create Draw Requests
Make edits to draw requests
Review current loans
If you have been approved for a construction loan and need to create your login portal for Temple View's Draw Management Page, click on the button below.
Phone: 1-844-675-1900 (Option 5)