A disbursement or “draw” schedule is a timetable for payments to your general contractor, or builder, as construction progresses. Disbursements, or “draws,” are made as predetermined milestones in the construction of your home are completed (i.e. pouring of the foundation, delivery of the logs, etc…).

When you or your builder request a disbursement for work completed, the following steps will occur:
• An inspection will be ordered by M&T to ensure the work has been completed*
• If applicable in your state, a title “bring-down,” or verification that no subcontractor liens have been placed against the property, will be conducted
• A lien waiver from your builder may also be required, if applicable
• Upon receipt of a satisfactory inspection report (and satisfactory bring-down if applicable) and depending on the method agreed upon when the funds were requested, the construction administration department will either overnight a co-payable check to you or wire funds directly to your builder

* M&T Bank assumes no responsibility for the construction to be performed, for its quality, for its compliance with local building codes, or for its compliance with the plans and specifications. Borrower(s) are advised that any inspections made are as to the progress of the work only and are for the sole benefit of M&T Bank, and that reports by the inspectors are not certifications of compliance by the Builder(s) with the building plans or of the quality of work, nor are they intended as construction supervision.

Log Home Financing Steps:

Learning Center

Get Pre-Qualified

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Apply for a Mortgage

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Mortgage Approval

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 Create Disbursement Schedule

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Mortgage Closing/Settlement

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Home Construction

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Modifying to a Permanent Mortgage