Congrats on your closing! Rehab Wallet looks forward to serving you during the rehab phase of your project. To ensure you have all the tools necessary to submit draw requests, we’ve created these guidelines for you. Feel free to bookmark this webpage for future reference or reach out to us with any questions at [email protected].
Follow the steps to request a draw and see our best practices below. Happy flipping!
Your approved Scope of Work is now your Draw Tracker! Update the Draw Tracker with completed line items that you are requesting in your Draw. See the Required Documents & Tools section below for different Draw Trackers used for each of our loan products.
Email your Updated Draw Tracker to [email protected]. Subject Line: Property Address, Draw #, $ Amount Requested (must match $ amount in your Updated Draw Tracker). Make sure your name & phone number are included in your email signature.
Each Draw Request requires its own Truepic Inspection Link. Request a Truepic Inspection Link, and you will receive the link via text. Click on the Truepic Inspection Link in your text message & follow the prompts to capture videos & photos of your completed work directly in the Truepic App. See Truepic Inspection Tips in the Draw Request Tips section below. Once your Truepic Inspection is submitted, the Draws Team will be notified.
If your Truepic Inspection does not support the work reported in your Updated Draw Tracker, additional documentation may be requested. Once the Draws Team receives your Updated Draw Tracker and Truepic Inspection, your Draw Request will be placed in Queue for Review (please allow a minimum of 1 business day for review). See the Approval section below.
A tool to track your scope of work and rehab draws efficiently.
See Truepic Inspection Tips in the Draw Request Tips section below.
Once the Draws Team receives BOTH your Updated Draw Tracker & completed Truepic Inspection, please allow a minimum of 1 business day for review. Upon Approval, you will receive a confirmation email and can expect to receive funds within 1-2 business days. Your funds will be submitted to the account on file in accordance with the ACH Form signed prior to closing.
NOTE: As of 2025, the first four (4) draws are $50.00 each*. Any additional draws are $100 each. All draw fees are deducted from draw proceeds.
*All fix & flip loan term sheets outline the draw fees for your specific loan (if different from above).
You need $, and we want to fund your project. Let’s work together to make it happen! Help us fund you FASTER by following these tips!
Following these easy tips can significantly reduce draw processing time.
We genuinely appreciate our borrowers, and our goal is to get you the funding you need as quickly as possible while ensuring that completed work can be properly verified. Following these tips helps us help you!
Note: Once a Truepic Inspection is created, it remains open for 2 weeks. If you have questions, you can message our Draws Team directly in the Truepic App or by responding to the text containing your Truepic Inspection Link. Upon completion of your Truepic Inspection, our Draws Team is automatically notified.
Download our printable
To submit a draw request, we need both:
Your draw request will not enter the Draws Team review queue until both the completed inspection and updated draw tracker have been received.
Once both items and all required supporting information have been received, please allow one (1) business day for review. A member of the Draws Team will follow up with you within that timeframe regarding approval or any additional information needed to complete the review.
No. Rehab Wallet does not pay contractors directly or fund contractor fees or deposits upfront. All draw proceeds are disbursed to the bank account listed on the executed ACH Form that Rehab Wallet verified prior to closing.
We understand that contractors may require deposits or upfront payments as part of managing your renovation project. Those costs are the Borrower’s responsibility to manage upfront. Rehab Wallet’s draw process is reimbursement-based, and funds are released based on the verified percentage of work completed rather than the amount paid to a contractor in advance.
In some cases, Rehab Wallet may require a live or additional inspection before a draw request can be approved. This allows our team to further verify the condition of the property, completed work, and overall project progress when the submitted documentation alone is not sufficient.
A live inspection may be required in situations including, but not limited to:
If an additional or live inspection is required, a member of the Draws Team will provide instructions regarding the next steps needed to continue the draw review.
Yes. If you need to update the bank account currently on file, please provide the required updated banking documentation to [email protected].
The documentation must clearly show your name, the account name, account number, and routing number so the new account can be reviewed and verified before future draw proceeds are deposited.
No. Rehab Wallet does not fund material draws prior to installation. Materials must be installed and verified as completed work before they are eligible for reimbursement through the draw process.
Rehab Wallet does not provide additional rehab funds after closing. If your rehab exceeds the initial budget provided in your scope of work (SOW), you are responsible for self-funding any overages.
Self-funded portions of the rehab must be completed in equal proportion to Rehab Wallet-funded portions (e.g., a rehab with a self-fund budget of $4,000 will have self-funded when the renovation project is 50% complete).
Contact the draws team at [email protected] if your rehab is expected to go over budget.
If your scope of work (SOW) changes, a revised draw tracker is required for review and approval.
Changes that add, remove, or significantly modify work that may impact the value of the property must be reviewed by the Draws Team in partnership with Underwriting before an updated scope of work can be approved.
Please allow up to two (2) business days for review of scope of work changes. We recommend submitting any requested changes before your next draw request. If a revised scope is submitted at the same time as a draw request, the draw review may be delayed until the updated scope of work has been reviewed and approved.
Contact the draws team at [email protected] if your scope of work has changed.
Partial draws may be considered but are not guaranteed. Rehab Wallet will consider partial draw requests in which the category/line item is not 100% complete with photos, videos, and documentary evidence showing the amount of work that has been completed.
In your draw request, you will need to clearly communicate which items you are requesting a partial draw for and how much has been completed (e.g., a draw request for Demo – 100% Complete and Framing – 50% Complete).
Videos and photos are accepted as draw documentation, but they must follow our submission guidelines.
Rehab Wallet’s rehab holdback structure is a reimbursement program, meaning that funds are disbursed via draws based upon verification of the completed work stated in your approved scope of work provided prior to closing.
Please Note: Contractor deposits must initially be paid out of pocket and will ONLY be funded upon completion/partial completion of items outlined in your draw tracker.
There are no limits to the number of draw requests you can make. However, the first four (4) draw requests are $50.00 each*. Any additional requests after that will be $100 each. All draw fees are automatically deducted from draw proceeds.
*All fix and flip loan term sheets outline the draw fees for your specific loan (if different from the above).
These projects often require extra verification steps, such as proof of permits, inspections, utility hookups, and documentation related to the manufactured home. Because they involve both land improvements and manufactured housing, we may need to confirm that completed work and major systems meet the requirements of the project before funds are released.
Yes, in some cases. Certain counties require permits for work like septic installation, well connection, or permanent foundations. Draws may be partially funded or held until copies of required permits or final inspection reports are received.
The documentation needed may vary depending on the work being requested for reimbursement. In addition to clear photos or video showing the completed work, additional documentation may be required for certain items.
Additional documentation may be requested if the completed work cannot be fully verified through the submitted photos or video.
Yes. Please make sure all serial or manufacturer tags are clearly visible in your photos or videos for items such as HVAC units, water heaters, electrical panels, and the manufactured home’s HUD plate or VIN tag.
You can request draws for completed site work once visible progress is shown through the required photos or video. However, before any draw funds can be released, a copy of the manufactured home order confirmation must be provided to a member of our team for review. This allows us to confirm that the home being purchased matches the manufactured home information provided for the project at closing.
Once the manufactured home is delivered to the property and is on site, please provide your insurance documentation to our team as soon as possible. We must confirm that the home is properly insured and that the policy meets our requirements before additional draw funds can be released. Draws may be held until the required insurance documentation has been received and approved.
The Manufacturer’s Certificate of Origin (MCO) will also be required as part of the manufactured home documentation. Once the MCO becomes available, please provide a copy to our team so we can confirm the required ownership and home information is complete and matches the project file.
Yes. Truepic is still required for manufactured home + land draw submissions.
We understand that many of these properties are located in rural areas where cellular service may be limited. Before traveling to the property, please open the Truepic app and keep it available on your phone. You can capture the required photos and videos while at the property, and if service is unavailable, the submission can upload once your phone reconnects to a reliable cellular or Wi-Fi connection.
Please make sure all completed work you are requesting for reimbursement is clearly shown in your Truepic submission.
In some cases, Rehab Wallet may require a live or additional inspection before a draw request can be approved. This allows our team to further verify the condition of the property, completed work, and overall project progress when the submitted documentation alone is not sufficient.
A live inspection may be required in situations including, but not limited to:
If an additional or live inspection is required, a member of the Draws Team will provide instructions regarding the next steps needed to continue the draw review.
The GC Program uses an advance draw structure rather than the standard reimbursement structure used for Fix & Flip loans.
Approved rehab funds are divided into phases, generally with a minimum of four (4) phases. Phase One is advanced after closing so work can begin. Before the next phase can be funded, the work assigned to the current phase must be completed and verified.
Because borrowers in the GC Program are reviewed and approved for this program during underwriting, we expect projects to be actively managed throughout construction and for the GC to adjust as needed when normal construction challenges arise.
Phase One is generally advanced on the business day following closing once the loan has been fully funded and all applicable closing requirements have been satisfied.
This allows the GC to begin the first phase of work without having to complete that phase out of pocket before receiving rehab funds.
All work assigned to the current phase must be completed before the next phase can be funded.
For example, before Phase Two is released, the items included in Phase One must be completed and verified through the required draw documentation and inspection process.
The GC Program is designed around completed phases rather than reimbursement of individual line items. If construction activities occur in a different order than originally anticipated, the GC is expected to manage the project accordingly while still completing the requirements of the funded phase.
If items remain incomplete, the next phase may be held until the current phase requirements have been satisfied.
Rehab funds must be divided into reasonably equal proportions across the approved phases of the project.
Phases should reflect a balanced percentage of the overall rehab rather than placing a disproportionately large amount of the budget into one phase and significantly smaller amounts into the remaining phases.
For example, a four-phase project would generally be structured around approximately 25% of the rehab budget per phase, subject to the required final holdback.
Additional phases may be approved when appropriate for the size or complexity of the project.
If your actual Scope of Work (SOW) changes by adding, removing, or significantly modifying approved work, a revised draw tracker is required for review and approval.
Because changes to the approved Scope of Work may impact the property’s after-renovation value (ARV), the Draws Team must partner with Underwriting to reevaluate the project and confirm the updated Scope of Work.
Please allow two to three (2–3) business days for this review. No additional draws will be funded while the Scope of Work and ARV review is in progress.
We strongly recommend submitting any requested Scope of Work changes before your next draw request to avoid delays in funding.
Contact the Draws Team at [email protected] if your Scope of Work has changed.
Yes. The GC Program allows one (1) approved phase restructuring during the project.
A phase restructuring allows you to change the sequencing or grouping of work that is already included in your approved Scope of Work. For example, if construction sequencing requires an approved item originally scheduled for a later phase to be completed earlier, you may request that the phases be reorganized.
This does not allow new work to be added, approved work to be removed, or the overall Scope of Work to be changed. Those changes must go through the Scope of Work and ARV review process outlined above.
Any phase restructuring must be submitted to the Draws Team for review and approval before funding of the affected phase. The GC Program allows one phase restructuring during the life of the project. After that adjustment has been used, the GC is expected to manage normal construction sequencing changes within the approved phase structure.
Yes. A minimum of 10% of the rehab budget must remain available through the completion of the project.
We strongly recommend building a 10% contingency directly into the project budget to account for unexpected construction costs and final completion items.
If the approved budget does not include a separate 10% contingency, Rehab Wallet will retain 10% of the rehab funds as a final holdback.
For example, on a four-phase project, funding may be structured as:
The exact phase structure may vary depending on the approved project budget and number of phases.
The final holdback will not be released until the renovation is complete and the property is list ready.
The property must be fully completed in accordance with the approved Scope of Work, and all final work must be verified through the required inspection process.
Any remaining incomplete items, punch-list items, or conditions preventing the property from being considered list ready may delay release of the final funds.
Unlike the standard Fix & Flip program, the GC Program provides advance funding by approved phase.
Once a phase is funded, the GC is responsible for managing those funds across the labor, materials, contractor costs, and other approved items included within that phase.
Rehab Wallet does not separately advance additional funds for contractor deposits, materials, or individual line items outside of the approved phase structure.
Videos and photos are accepted as draw documentation, but they must follow our submission guidelines.
In some cases, Rehab Wallet may require a live or additional inspection before a draw or phase request can be approved. This allows our team to further verify the condition of the property, completed work, and overall project progress when the submitted documentation alone is not sufficient.
A live inspection may be required in situations including, but not limited to:
If an additional or live inspection is required, a member of the Draws Team will provide instructions regarding the next steps needed to continue the draw review.
To submit a draw request, we need both:
Your draw request will not enter the Draws Team review queue until both the completed inspection and updated draw tracker have been received.
Once both items and all required supporting information have been received, please allow one (1) business day for review. A member of the Draws Team will follow up within that timeframe regarding approval or any additional information needed to complete the review.
New Construction projects follow a reimbursement-based draw structure. Funds are released based on completed and verified work in accordance with the approved draw tracker and Scope of Work.
Because these are ground-up construction projects, additional supporting documentation may be needed throughout the build depending on the stage of construction and the work being requested.
A 10% contingency reserve is also required and will be maintained throughout the project.
No. New Construction draws are reimbursement-based, meaning funds are released based on completed and verified work.
Contractor deposits, material purchases, labor costs, and other upfront project expenses must be managed until the applicable work has been completed and approved for reimbursement.
No. New Construction projects are not structured with a self-funded construction portion.
The approved project budget should account for the full cost of completing the project, including the required 10% contingency reserve.
If you anticipate that the project will exceed the approved budget, please contact the Draws Team as soon as possible.
New Construction projects require a 10% contingency reserve to be maintained throughout the project. The contingency is intended to help account for unexpected construction costs and help ensure sufficient funds remain available through completion.
The contingency should not be treated as funds automatically available for release simply because the project is progressing under budget.
If contingency funds are needed during the project, please contact the Draws Team so the request can be reviewed based on the project’s current progress, remaining work, and available construction funds.
The documentation required may vary depending on the stage of construction and the work being requested for reimbursement.
At a minimum, draw requests should include:
If additional support is needed to verify the work or amount requested, the Draws Team may also request:
Draws may be partially funded or held if the submitted documentation does not provide enough information to verify the work being requested.
Clear Truepic photos and videos should be submitted to show completed work and current construction progress.
For major systems or utility-related work, additional documentation may be requested if the submitted photos or videos do not provide enough information to verify completion.
Examples may include:
You are required to use the Truepic app for photo and video submissions. The app ensures files include a timestamp and location stamp and are sent directly to our team.
Photos and videos should clearly show the current stage of construction and all completed work being requested for reimbursement.
If the property is located in a rural area or an area with limited cellular service, please open the Truepic inspection while you still have service before traveling to the property. You can complete the inspection while at the property and allow it to upload once your device reconnects to cellular service or Wi-Fi.
Partial draw requests may be considered depending on the construction stage and documentation provided, but they are not guaranteed.
The Draws Team must be able to reasonably verify the percentage of work completed and the amount being requested for reimbursement.
Additional invoices, cost sheets, inspection documentation, or other supporting information may be requested when an item is not fully complete.
If the approved Scope of Work changes, please contact the Draws Team before submitting the affected work for reimbursement.
Changes that add, remove, or significantly modify construction work may require additional review to confirm the project remains adequately funded and that the changes do not negatively impact the expected value or completion of the property.
A revised draw tracker and additional supporting documentation may be required before the change can be approved.
In some cases, Rehab Wallet may require a live or additional inspection when the submitted documentation alone is not sufficient to confidently verify completed work or overall project progress.
A live inspection may be required in situations including, but not limited to:
If an additional or live inspection is required, the Draws Team will provide instructions regarding next steps.
Each New Construction draw request is subject to a $150 draw fee.
The draw fee is automatically deducted from the draw proceeds.
At a minimum, a draw request must include:
If additional documentation is needed to verify the request, the Draws Team may ask for applicable invoices, cost sheets, permits, inspection documentation, lien waivers, or other supporting information.
Your draw request will not enter the Draws Team review queue until the required draw tracker and completed inspection have been received.
Once all required information has been received, please allow one (1) business day for the initial review. A member of the Draws Team will follow up regarding approval or any additional information needed.
Rehab Wallet has partnered with Truepic to create a more seamless draw submission process. Download the app for iPhone or Android below.
Email our team at [email protected] if you have questions about the draw process.
If you need technical support, Truepic’s team is available Monday through Friday from 9 am to 6 pm ET by email at [email protected] and by phone at +1 619-512-9759.
The Rehab Budget & Draw Tracker is a tool that we developed to review the progress of rehab projects by accurately outlining the scope of work and tracking draws. This ensures that the borrower and reviewer are working off the same information and allows for a quicker and more efficient draw review process.
To learn more about how to use the Rehab Budget & Draw Tracker, please watch the instructional video below and email our team at [email protected] if you have any questions.
NOTE: As of 2025, the first four (4) draws are $50.00 each. Any additional draws are $100 each. All draw fees are deducted from draw proceeds.
The Rehab Budget & Draw Tracker is a tool that we developed to review the progress of rehab projects by accurately outlining the scope of work and tracking draws. This ensures that the borrower and reviewer are working off the same information and allows for a quicker and more efficient draw review process.
To learn more about how to use the Rehab Budget & Draw Tracker, please watch the instructional video below and email our team at [email protected] if you have any questions.
NOTE: As of 2025, the first four (4) draws are $50.00 each. Any additional draws are $100 each. All draw fees are deducted from draw proceeds.