Disbursements with rehab loan
I'm new here. My boyfriend and I are closing on our first home on October 20th. We're getting a Fannie Mae Homestyle Rehab Loan. We're wondering how the disbursements will work. We'd like to bargain shop and use Craigslist to buy some materials, like our kitchen cabinets. If we were to find the cabinets we want on Craigslist, do we buy it out of pocket, or is there a way to get that money from the loan, or do I ask the contractor to pay and tack it onto the final bill? Anyone have any experience with this?
I'm sure I'll be around with many more questions in the coming months. :)