Finance
In Virginia, a construction loan 'draw schedule' refers to:
AThe loan repayment schedule
BThe schedule of periodic payments released to the builder as construction phases are completed✓ Correct
CThe architectural drawings required by the lender
DThe closing cost schedule
Explanation
Construction loan funds are disbursed in stages (draws) as construction progresses and inspections confirm completion of each phase. This protects the lender by ensuring funds are used as intended.
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