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How do I request a construction draw? (and everything else about construction draws.)
How do I request a construction draw? (and everything else about construction draws.)
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Written by Upright
Updated over a week ago

Click HERE to order your construction draw.

When should I order my first draw?:

You can request your first construction draw 15 days after closing and once progress has been made. Order your draw a few days before you need it.


How quickly does the inspection happen?:

Once you’ve ordered your draw, we order the inspection via a third-party inspector within minutes! The inspector will contact you via phone or email and you’ll need to confirm what day they should come out to your project. Make sure you’re on time the day of the inspection to all allow the inspector access to the interior and exterior.

How is progress determined?:

Upright uses a third-party inspection service to verify through photos what work has been completed on the property. Our specialists review the photos and compare them to your Statement of Work to determine the percentage of construction completed and the amount you are eligible to draw down on. Most items are only eligible once they are completed or installed, but some items like architectural fees can be eligible for a draw upon receipt of proof of payment and corresponding documentation, like your full set of plans.

What determines if funds will be disbursed?:

Our specialists review the progress shown in your inspection photos, along with any other supplemental documentation you provide to determine the amount of funds that will be disbursed. Additionally, a loan must be in good standing (within maturity and current on interest payments) to access draw funds.

How are draw amounts calculated?:

Funds are determined and released based on the specialist’s verification of percentage of work completed, as well as the construction holdback amount.


Can I change my SOW?:

Changes to the scope of work are extremely rare, but do happen. If you believe changes to your scope of work are needed, please contact [email protected] to provide information on the requested changes.


When do I receive my funds?:

Once we receive the completed inspection report, you’ll receive your funds on average, in about 48 hours.

How do I get the funds?:

We will deposit the funds into your bank account. Make sure your bank account accepts wires. The name on the bank account must match the borrower(s) on the loan. To set this up, you need to provide a voided check to your Account Manager. If you need to change the bank account, email [email protected].

How do I know the funds have been processed?:

Your Account Manager will send an email that outlines your construction budget after disbursement.

Can I get a copy of the inspection report?:

Yes, your Account Manager will share a copy with you before the disbursement occurs.


Can I have the name and contact info for the inspector?:

We hire third-party vendors, so we do not have this info.

How do I get my final construction draw?:

The project must be 100% complete. Once all items in the scope of work are complete or installed, we will schedule the final inspection. You request the final inspection through the same draw request page.

What fees are involved?:

Draws are included in the servicing fee of the loan, and the set number of draws are agreed upon at closing. There is a $200 charge for each additional inspection and draw.

How often does Upright inspect the property?:

We inspect each property every 60 days. If there hasn’t been a draw request within the past 60 days, we’ll schedule a status update at no charge.

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