1004D Update

[DWiley]

Many lenders who request construction draws have their own forms for that. I built a spreadsheet that would allow me to convert the construction budget into a construction draw form where the percentages where specific to the subject property.

 

[alebrewer]

What forms are you referring to?

There are several out there - I even built a proprietary one back in the day. I think most of the forms packages have them. Just look up 'Construction Draw Form'.

 

[Tom4value]

I completed a 1004 pre-construction in May 2025. This order was through an AMC. The lender just emailed me wanting a % completed. He said he does not order updates through AMCs. He wants a % completion and wants to pay me directly. I have never had a lender request through email before. Is there any reason why I should not accept the assignment from the lender directly this time?

Yes you can do it and who knows? Maybe they will drop the AMC and just deal with you directly.

Sounds like they want construction draws. Many places have their own draw form but the one I deal with uses the 1004D.