First Loan Draw

I E-mailed the builder Wednesday asking how we would request the first draw.  He E-mailed back the completed forms along with copies of the permit and the location survey, needed by the bank for the first draw.  I printed the forms for us to sign and FAXed them to the bank on Thursday, and E-mailed the other stuff.

The loan administrator called this morning to tell me that she needed a couple of other items — builder’s license and risk insurance — that I thought he had sent for the loan application.  She told me she doesn’t have everything in the file, since the loan officer was in a different location.  I E-mailed the builder, and as far as I know the bank had everything they needed by mid-afternoon.  Now we just have to see how long it takes for them to  pay the builder.

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