Mirror your lender's scope of work

The example loan has a $52,000 holdback. The lender approved it as seven lines that add up to $52,000: demo, mechanicals, insulation and drywall, kitchen and appliances, flooring and paint, baths, and a contingency.

It shows on a loan with a Rehab holdback. Paying cash, or a loan with no holdback? There's nothing to set up.

Set up the schedule

1. 1Step 1: Open Financing, and on the loan choose Set up draw schedule.
2. 2Step 2: Paste the lender's lines into Lender's lines, one per row with the amount last, or copy the rows from their spreadsheet. Header and total rows are skipped. Choose Add lines.
3. 3Step 3: No list from the lender yet? Choose Start from my budget for one line per budget category, then edit each line's name and Approved amount to match theirs.
4. 4Step 4: Choose Map budget lines and pick the lender line each of your budget lines falls under. Your budget can be more detailed than theirs. Choose Save mapping.

If the lines don't add up to the holdback, the schedule says by how much, so you can check them against the lender's paperwork.

Request a draw by line

1. 1Step 1: Choose Request a draw.
2. 2Step 2: For each line with work done, type the Amount, or type % done and the amount fills in: the line times the percent, less what's already funded or asked for.
3. 3Step 3: Fill from what I've spent puts in what you've spent on each line's budget lines that hasn't been asked for, up to what the line has left.
4. 4Step 4: Add Notes for the lender and choose Save draw request.

Move money between lines

Came in under on one line and over on another? That's a reallocation. On the example, the quartz ran over and the original tub stayed, so $800 moved from Baths to Kitchen and appliances. The kitchen line went from $12,000 to $12,800.

1. 1Step 1: Choose Move money between lines.
2. 2Step 2: Pick From and To, type the Amount and the Reason, and leave Waiting on the lender's approval ticked until they say yes.
3. 3Step 3: Choose Save reallocation.

• The loan's total never changes. A line can't give more than it has left.
• Each reallocation is saved with its date and your name, and it can't be edited. To undo one, move the money back.
• One still waiting on the lender counts toward the lines, and the draw request marks it.
• When the lender answers, choose Lender approved or Lender said no on it. One they said no to stays in the log, marked not counted, and its money goes back to the line it came from. If you've already asked for that money in a draw, lower the draw first.

Change orders

Approving a change order changes your budget, not the lender's lines. When it's on a mapped line, Change orders and the schedule ask Apply matching lender reallocation? If the lender has a contingency line with enough left, the from line, to line, and amount are filled in. Otherwise you pick the missing line. Nothing moves until you choose Save reallocation.

Mark a draw funded

1. 1Step 1: When the money arrives, choose Mark funded on the draw.
2. 2Step 2: Each line starts at what you asked for. If the lender cut a line, lower it to what they funded, before fees. What they cut goes back on the line for a later draw.
3. 3Step 3: Check Amount that arrived, which is after the draw fee, and Funded on. Choose Save funding.

Funded on the schedule counts each line before fees, the way the lender's schedule does. Drawn on Financing is what reached your account after fees, so the two differ by the draw fees.

Attach photos and documents

1. 1Step 1: On the draw, choose Attach files.
2. 2Step 2: Pick the photos, invoices, and inspection reports, and the line they're for if you like. Choose Attach.

They come from the house's photos and documents, including the photos your crew adds to tasks, so they can upload from a phone and you attach them to the draw.

Print the draw request

On the draw, choose Download PDF, or Print to open it in your browser. On a phone, the share sheet opens so you can save, email, or print it. The PDF has:

• The house, borrower, lender, loan number, draw number, date, and amount.
• Every lender line with approved, reallocated, revised, previously funded, this request, % done, and balance. These are the columns of the AIA G703 continuation sheet lenders use.
• Every reallocation with its date, reason, and who recorded it.
• The attached photos and documents, a borrower certification with signature lines, and up to 12 photos printed on the last pages.

On the example, draw 2 asks for $5,000: the rest of insulation and drywall, and part of the kitchen. $29,000 is left on the schedule after it.