Borrowers generally have 15 months from closing to complete the renovation project.
The Luminate Bank Interim Renovation Loan gives borrowers a defined construction window: generally 15 months from closing to complete the renovation project. That timeline covers major rehabs, fix-and-flip scopes, tear-down/rebuild, and other eligible work funded through escrowed draws.
Separately, the eligible loan product is a 12-month interest-only interim loan. Plan both clocks together — interest-only carrying costs and the construction completion deadline — before you lock a GC schedule.
Ryan and Steve reverse-engineer your permanent refinance or sale exit from the 15-month window so the project and take-out financing stay aligned.
Build permits, draws, and your exit refinance or sale into the same calendar.
Closing advances and the additional 10% after permits help mobilize early — leave buffer for inspection and material lead times.
Up to two draws per month keep cash flowing so the 15-month clock is used for construction, not waiting on payment gaps.
An interest reserve may be financed so monthly interest-only payments do not drain cash while work is underway.
Borrowers must qualify for permanent financing at 1% above market. Start the refinance or sale plan before the construction window closes.
Kitchens, baths, structural work, HVAC, roofing, and remediation projects that need months — not weeks — of phased draws.
Purchase-plus-rehab timelines that target completion and sale or refinance inside the construction period.
Allowed under this interim program when the full rebuild can be scheduled within the construction window.
Eligible improvements that often span multiple draw cycles and inspection stages before final completion.
Related Luminate Bank Interim Renovation Loan guides and renovation programs to compare before you apply.
Escrowed funds, closing advances, and inspection-based releases.
Up to two draws per month with inspection-based releases.
Sell or refinance into permanent financing to pay off the interim loan.
Interest reserve may be financed during the construction period.
Full program overview, LTV grids, draw schedule, and best uses.
Compare interim construction with permanent renovation programs.
Borrowers generally have 15 months from closing to complete the renovation project.
Not exactly. The eligible loan product is a 12-month interest-only interim loan, while the construction period is generally 15 months from closing.
You can typically refinance into permanent financing or sell sooner — the interim loan is meant to be paid off once construction is complete.
Up to two construction draws per month are allowed during the construction period as work is completed and inspected.
Ryan & Steve will stress-test your GC timeline, draw plan, and permanent take-out against the Luminate Bank Interim Renovation Loan window.
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.