Draw Schedule Template

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

What is a Draw Schedule?

A draw schedule defines when and how much you can request from your construction loan. It's typically agreed upon with your bank before construction begins.

Typical Draw Schedule

| 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% |

Retainage

Most banks hold back a percentage (typically 5-10%) from each draw as **retainage**. This money is released after the project is fully complete and passes final inspection.

> TIP: Negotiate your draw schedule with your bank before construction starts. More draws = better cash flow for you. Some banks allow monthly draws instead of milestone-based draws.