Draw Schedule Template

Understanding draw schedules, typical milestone percentages, and configuring your draw schedule in OwnerDraw.

What a draw schedule is

A draw schedule is the *plan* you agree with your lender: roughly when money is released and how much each stage is worth. In OwnerDraw it lives on its own **Draw Schedule** page, called the **Draw Schedule Builder**.

It is not a bill. Nothing on the schedule asks your lender for money, and you do not need a schedule to create a draw request.

What a draw request is

A **draw request** on the **Draw Requests** page is the real ask: one numbered request, actual amounts, retainage, and a G702/G703 packet you send to your lender. See *Preparing a Draw Request*.

A typical plan

| Draw | Milestone | % of loan |
|------|-----------|-----------|
| 1 | Foundation complete | 15% |
| 2 | Framing complete | 25% |
| 3 | Mechanical / electrical / plumbing rough-in | 20% |
| 4 | Drywall complete | 15% |
| 5 | Interior finishes | 15% |
| 6 | Final completion | 10% |

Your lender's schedule replaces this one. Use it as a shape, not a rule.

Building it in OwnerDraw

On the **Draw Schedule** page you set the number of stages (three to ten), name each one, describe the work required before it is released, and drag your Schedule of Values lines into the stage where you expect them funded. Each column shows a **Subtotal** and a **Cumulative** figure.

**Approve Schedule** is your own internal sign-off — it locks the builder for the record. It does not send anything to your lender and does not mean your lender approved the plan. **New Draft** reopens an approved schedule as an editable copy.

Assigning lines needs a mouse; the builder is readable on a phone but cards cannot be dragged by touch. Full instructions, including what happens when you reduce the number of draws, are in *Building Your Draw Schedule*.

Retainage

Most lenders hold back a percentage of each draw — commonly 5–10% — until the project is complete. OwnerDraw takes that rate from your project settings, shows it as **Less Retainage** on every draw, and keeps each draw's own figure so older draws stay consistent if the rate changes.

Retainage is held, not lost, and it is not a fee.

Negotiating more frequent draws generally improves your cash flow. Ask before construction starts.