The program allows up to two construction draws per month, providing flexibility for larger renovation projects.
The Luminate Bank Interim Renovation Loan is built for projects that move in phases — kitchens one week, framing the next. Renovation funds sit in escrow and release through construction draws as work is completed and inspected.
The matrix allows up to two construction draws per month. That cadence gives general contractors more frequent payment opportunities than programs limited to monthly or less frequent releases — especially useful on large rehabs and fix-and-flip timelines.
Ryan and Steve help you and your GC plan a draw calendar that matches inspection readiness so you actually use the two-draw flexibility instead of leaving cash stuck in escrow.
Frequency is a ceiling — each release still requires completed, inspected work.
Draws are tied to progress. Schedule inspections so you can request up to two releases in a month when phases are complete.
Early funding at closing and after permits can reduce pressure on the first inspection draw for mobilization and materials.
A portion of each draw may be held back until remaining work is finished — 5% generally, 10% in Texas.
One general contractor is required. Subcontractor payments typically flow through that GC after escrow releases funds.
Multi-trade projects need cash flowing as each phase finishes — not one slow monthly drip.
Speed to market depends on contractor cash flow. Two draws per month supports faster turn timelines.
Heavy structural phases and rebuild stages often need more frequent funding than cosmetic remodels.
While draws fund the work, the interim product stays interest-only for up to 12 months — with generally 15 months to complete construction.
Related Luminate Bank Interim Renovation Loan guides and renovation programs to compare before you apply.
Escrowed funds, closing advances, and inspection-based releases.
Generally 15 months from closing to finish the project.
Interest reserve may be financed to reduce out-of-pocket carrying costs.
Sell or refinance into permanent financing to pay off the interim loan.
Full program overview, LTV grids, draw schedule, and best uses.
Compare interim construction with permanent renovation programs.
The program allows up to two construction draws per month, providing flexibility for larger renovation projects.
Funds are released from construction escrow as work is completed and inspections are finished — not on a fixed calendar alone.
Yes. The program allows 10% initial builder funding at closing and an additional 10% after required permits are obtained.
Larger scopes need contractors paid as phases finish. Up to two draws per month helps keep labor and materials moving without long waits between releases.
Ryan & Steve will align your GC’s phases, inspections, and escrow releases on the Luminate Bank Interim Renovation Loan.
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.