At Vantage, we provide lenders a third party solution for reviewing draw requests for their portfolio of construction loans, both residential and commercial. Bank Phase/ Draw Inspections allow banks to verify the progress prior to disbursing loan proceeds. Banks and lending institutions lending money to builders (contractors) need to verify specific completion milestones are met prior to releasing loan proceeds. Vantage provides detailed reports, including photos, to provide the bank with accurate and timely information so they know when and how much funding to release.
Build a GREAT loan inspection process
Creating a system is critical. Vantage works with their clients to establish standard operating processes in an effort to streamline the draw request and funding process. The steps in the process include:
1. Contractor / Borrower submits a draw request.
2. Bank or Lending institution reviews the request for compliance with the loan terms.
3. Bank or Lender submits the draw request to Vantage for processing.
4. Vantage reviews the draw request for completeness, dispatches a site Inspector for to complete a field inspection and submit a report.
5. Vantage main office receives the pictorial report then verifies all items have been completed as submitted on the draw request.
6. Vantage submits the detailed report to the Bank or Lender so they can review and release the required funds.
Build a Dependable team
Partnering with Vantage allows you to put our market experience to work for you so you can spend more time serving your customers needs. We strive to quickly complete all inspections within 24 hours, this allows you to better serve the borrowers needs. When you couple our quick response, market knowledge and happy borrowers you set yourselves up for success.