Remodel & Renovate in 34286>Question Details

Linda B, Home Buyer in 34286

I just closed on a 203K streamline loan, I want to get my contractor started. How long will it take to get his first draw?

Asked by Linda B, 34286 Mon Feb 22, 2010

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3
Gary P. Benjamin’s answer
You should have consulted your professionals first before closing on the loan. You can rest assured that your builder knows when they will get the first draw. Your contractor had to agree to the terms of his draws when he signed the deal with your lender..
0 votes Thank Flag Link Mon Feb 22, 2010
Linda

Talk to your lender
1 vote Thank Flag Link Mon Feb 22, 2010
That is a question for your loan officer. Typically, with Wells Fargo, it takes about a week after closing to set up the file in our draw department so that things can begin....Best of luck in your project.
0 votes Thank Flag Link Mon Feb 22, 2010
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