Yes. The program specifically identifies Renovation/Fix & Flip as an eligible use, making it a popular financing option for real estate investors.
Many permanent renovation mortgages are designed for owner-occupants who keep the long-term loan. The Luminate Bank Interim Renovation Loan is different — it is classified as a renovation and fix-and-flip product, so investors can finance purchase (or refinance) plus major rehab on a short-term, interest-only note.
After closing, renovation funds sit in escrow and release through construction draws as work is inspected. You make interest-only payments during the construction period, then pay off the interim loan by selling the flipped property or refinancing into permanent financing.
Ryan and Steve help flippers map scope, draw cadence (up to two draws per month), and exit timing against program guidelines before you lock in an interim construction structure.
Short-term structure, escrowed rehab funds, and a clear exit — not a permanent mortgage you never intended to keep.
Finance the acquisition and eligible renovation costs together instead of stacking hard-money rehab lines with separate purchase financing.
During the 12-month interest-only term, you pay interest on disbursed funds while the flip is under construction — not full principal and interest.
Up to two construction draws per month support larger scopes that need materials and labor released as work progresses.
When the project is done, sell or refinance into permanent financing. Borrowers must qualify for permanent financing at 1% above the market rate during underwriting.
The program requires a meaningful renovation scope — ideal for gut rehabs, not light cosmetic flips under the minimum.
Plan on a single GC for the project. Draw holdback is typically 5% (10% in Texas), with limited builder advances at closing and after permits.
Expect tighter LTVs on investment occupancy — commonly up to 75% up to $1.5 million on purchase or refinance.
Generally 700 for conforming loan amounts and 720 for amounts above conforming limits.
Related Luminate Bank Interim Renovation Loan guides and renovation programs to compare before you apply.
Investment property eligibility, LTV, and underwriting for investor borrowers.
Single-family, modular, manufactured, and 2–4 unit investment properties.
Structural, non-structural, pools, remediation, and more.
Tear-down and rebuild projects allowed under this interim program.
Full program overview, LTV grids, draw schedule, and best uses.
Compare interim construction with permanent renovation programs.
Yes. The Luminate Bank Interim Renovation Loan specifically identifies Renovation/Fix & Flip as an eligible use, making it a popular financing option for real estate investors.
Either exit works. The interim loan is designed to be paid off by selling the property or refinancing into permanent financing once construction is complete.
Investment property LTV is typically up to 75% for purchase or refinance up to $1.5 million, subject to underwriting and property guidelines.
Borrowers generally have 15 months from closing to complete the renovation project, with a 12-month interest-only interim loan product.
Ryan & Steve will review your acquisition, rehab budget, and sale or refinance exit 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.