HML Draws

[Robert Guilfoyle]

So I contacted a couple HML's and one of them indicated that they require you to pay the rehab costs upfront, per a draw schedule and % of completion, they will inspect and approve and reimburse.

Do all HML's have this requirement?

Thinking more about it, I assume they have maybe 3-4 inspections, to in effect you will only be out 1/3 of the rehab costs at any point in time.  Is this a correct assumption?

Thanks!