What is Bank Ready?

Overview of the Bank Ready feature: two modes for initial loan approval and draw requests.

Overview

Bank Ready is OwnerDraw's document generation feature that creates professional, bank-ready packets for your construction lender. It has two modes:

Mode A: Initial Loan Approval

Generate a comprehensive packet for your initial construction loan application, including:
- Project overview and details
- Complete construction budget
- Timeline and phase plan
- Insurance documentation
- Your builder qualifications

Mode B: Draw Request Packets

Generate draw request packets for each construction milestone, including:
- AIA G702/G703 payment application forms
- Updated budget with actual costs
- Lien waiver status report
- Progress photos
- Inspection documentation

Loan Readiness Score

Bank Ready includes a 100-point score that shows how prepared you are for bank approval across 6 categories.

> TIP: Start working on your Bank Ready packet before you apply for your loan. A well-prepared packet dramatically improves your chances of approval and faster processing.