How Does the 203k Draw Process Work? (Step-by-Step Fund Releases!) 💰🏗️
Автор: Makeover Homes
Загружено: 2026-02-05
Просмотров: 2
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The 203k draw process is simple but strict: Reno funds sit in escrow at closing and release in stages as work gets done.
Contractor finishes a portion → submits invoice + proof → inspection clears (HUD consultant for Standard, minimal for Limited) → lender releases money directly to contractor. Usually 3 to 5 draws total, final one after everything passes inspection.
It protects everyone and ensures quality. Watch this quick guide to understand draws, inspections, and how to keep your project on track in 2026!
Have you started a 203k project yet? What's your biggest worry about the draw process? Drop it below 👇 #203kLoan #HomeRenovation #FixerUpper #RenoFunds #RealEstateTips
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