- Home Package Deposit - Money payable to the home package manufacturer that is required to get the home ordered or to get on the manufacturer's production schedule is known as a home package deposit. Any deposit payable is shown on the disbursement schedule.

- Builder/Contractor Despoit Money - A builder/contractor deposit is used as start-up money and working capital before construction has begun. Any deposit of this kind may be available at initial closing. If applicable, this deposit is shown on the disbursement schedule; however, not all builder/contractors are eligible for deposit funds.

- Reimbursement for Borrower Deposit - The borrower may be reimbursed for any monies paid out of pocket prior to the start of construction; however, not all borrowers are eligible for reimbursement. Sufficient equity and approval from the lender's construction department is required to obtain reimbursement. Borrowers must provide sufficient proof of deposits paid, for example, cancelled checks and paid invoices, to apply for the reimbursement.

- Draw Request - Upon completion of the required draw items, either the borrower or builder/contractor may order an inspection via email to Construction@bankahb.com or by phone to the Construction Department at 877-226-5242 to request funds.

- Inspections - A property inspection must be completed prior to the release of funds. A third party inspector performs periodic inspections to determine that work is progressing according to the disbursement schedule. When the inspection report is received, Deltec Financial Services releases funds based on the inspector's assessment. If the items within the requested draw are not completed, a partial disbursement based on the inspector's recommendation and the approval of the construction department may be released.

- Draw Checks - Draw checks are payments made for work completed based on an inspection report. The checks are sent to the borrower and made co-payable to both the borrower and the builder/contractor. Our standard policy is to send out these checks via overnight courier.

**Please note: The borrower's interest payments must be current in order for the draw check to be disbursed.**

Attention systems built home builders/contractors: We require funding notification 5 days prior to any home package delivery.

- Interest Only payments During Construction - During the construction phase, the borrower is required to make interest only payments to American Home Bank based on the monthly outstanding balance of the construction loan. A borrower may elect to participate in the "No Interest During Construction" program prior to initial settlement. Sufficient equity is required to set up the "No Interest" account. Further details can be obtained from your loan officer.

- Lien Search - A lien search is performed at each draw to ensure Deltec Financial Services that no liens have been placed on the property since initial settlement. This step is only required if applicable in the borrower's particular state.

- Building Permit - A building permit is required to be on file with the construction department prior to releasing any draws. The borrower or builder/contractor is required to submit as soon as it becomes available. If a building permit is not required, Deltec Financial Services will require a letter from the municipality and/or governing authority stating that no permit is required.