What Banks Want to See

Practical guide to common bank requirements, preparation for bank meetings, and documentation checklist.

Before your first meeting

Lenders want evidence that you are organised and that your plan is realistic. Most ask for some version of:

  • A detailed construction budget, priced line by line.
  • A construction schedule with phase durations.
  • Builder's Risk and General Liability insurance.
  • Plans, specifications and permits.
  • A written account of your experience and the professionals advising you.

**Ask your lender for their own checklist.** Requirements differ by institution and by loan product, and theirs is the list that counts. The one above is a common starting point, not a standard.

What OwnerDraw prepares for you

| They ask for | OwnerDraw gives you |
|---|---|
| Detailed budget | The **Budget Summary** page of the loan packet, and a CSV export from the Budget page |
| Proposed funding stages | The **Proposed Draw Schedule** page of the loan packet |
| Your qualifications | The **Owner-Builder Capability Summary**, on its own or in the packet |
| A cover letter | The **Loan Narrative Letter** |
| Plans, specs, insurance, bids | A **checklist** naming your uploaded files — the files themselves you send separately |

During construction

For each request, lenders typically want the **G702/G703** forms OwnerDraw produces on the **Draw Requests** page, an updated budget, signed lien waivers from paid subcontractors, and often photos and an inspection. Photos and inspection reports are not assembled into the packet for you.

What causes friction

  • A vague budget, or one with a handful of round-number categories.
  • Missing lien waivers.
  • Requests that do not match what has actually been built.
  • No insurance evidence.
  • Inconsistent records between what you sent last time and this time.

A high **Loan Readiness Score** means OwnerDraw's own preparation list is complete. It is not a signal from your lender.

**Verification note.** The OwnerDraw column above was confirmed against the generated packet and the current Budget, Bank Ready and Draw Requests code. The lender expectations are general guidance, not app behaviour.