TL;DR
A draw schedule is the payment plan in a construction contract or loan that releases money in installments tied to completed milestones — foundation poured, framing done, drywall hung — rather than on dates. Lenders usually send an inspector to verify the stage before funding each draw, and the contract should state what percentage each milestone releases.
What it means
A draw schedule is the payment plan in a construction contract or loan that releases money in installments tied to completed milestones — foundation poured, framing done, drywall hung — rather than on dates. Lenders usually send an inspector to verify the stage before funding each draw, and the contract should state what percentage each milestone releases. A schedule that front-loads cash well ahead of the work is a warning sign on any remodel bid.
Where it sits in the glossary
Draw schedule is part of the Pricing group inside the ProFix Directory glossary. Browse every term in this category from the glossary index.
Why Ohio homeowners should know it
This is a term Ohio homeowners encounter when reading contractor quotes, hiring paperwork, or inspection reports. Understanding it well enough to ask one good follow-up question is usually all the protection a homeowner needs.
ProFix Directory keeps definitions short on the index page and saves the longer context — Ohio-specific rules, where the term comes from, and which ProFix tools touch it — for these per-term pages so the term is easy to cite and easy to share.
ProFix tools that touch this term
See also
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