Yes. The program allows you to finance both the purchase price of the property and the renovation costs in one short-term construction loan.
When you buy a property that needs major work, the Luminate Bank Interim Renovation Loan combines acquisition and renovation into a single short-term note. You close once, fund the purchase, and escrow renovation dollars for draw releases as your contractor completes the scope.
This structure is especially useful for fixer-upper listings, fix-and-flip acquisitions, and properties where the renovation budget exceeds $50,000 — the program minimum. Unlike paying cash for repairs after closing, the interim loan sizes the total project upfront.
Ryan and Steve help you structure the purchase offer, renovation budget, and exit plan — refinance or sale — before you commit to an interim construction loan.
Maximum loan-to-value varies by occupancy and loan amount tier.
| Scenario | Max LTV |
|---|---|
| Primary & second home — conforming loan limit | 90% |
| Primary residence — up to $1 million | 85% |
| Primary residence — up to $1.5 million | 80% |
| Second home — up to $1.5 million | 80% |
| Investment property — up to $1.5 million | 75% |
After closing, renovation funds are placed in escrow — not handed to you as cash. Your general contractor is paid through construction draws as work is inspected and approved.
During the 12-month interest-only period, you pay interest on disbursed funds while the property is under construction — keeping carrying costs lower than a full P&I mortgage.
Related Luminate Bank Interim Renovation Loan guides and renovation programs to compare before you apply.
Define the short-term interest-only bridge product and how it differs from permanent renovation loans.
Escrowed funds, construction draws, interest-only payments, and exit strategies.
Occupancy, credit score, and borrower qualification basics.
Refinancing an existing property and financing major renovations.
Full program overview, LTV grids, draw schedule, and best uses.
Compare interim construction with permanent renovation programs.
Yes. The Luminate Bank Interim Renovation Loan allows you to finance both the purchase price of the property and the renovation costs in one short-term construction loan.
The program requires a minimum of $50,000 in eligible renovation costs.
Purchase LTV varies by occupancy and loan amount: up to 90% at conforming limits for primary and second homes, 85% up to $1 million on primary residences, 80% up to $1.5 million on primary and second homes, and 75% up to $1.5 million on investment properties.
Yes. Fix-and-flip and large renovation purchases are core use cases. Renovation/Fix & Flip is an eligible transaction type, making this a popular option for investors and owner-occupants buying properties that need major work.
Ryan & Steve will structure your purchase, renovation budget, and exit plan against Luminate Bank Interim Renovation Loan guidelines.
All loans are subject to credit and property approval. Luminate Bank Interim Renovation Loan program guidelines, LTV limits, loan amounts, and pricing are subject to change without notice and may not be available in all areas. This is not an offer to enter into an agreement. Information is for educational purposes only and is not a commitment to lend.