Loan amounts vary based on occupancy, loan purpose, property type, and borrower qualifications. First lien loan amounts are available up to $1.5 million, while second liens are available up to $500,000 for eligible transactions.
The Luminate Bank Interim Renovation Loan supports first liens up to $1,500,000 and second liens up to $500,000. Your actual borrowing power is also limited by maximum LTV for purchase or refinance, occupancy type, and underwriting approval.
Purchase LTV examples from the matrix range from 90% at conforming limits for primary and second homes down to 75% for investment property up to $1.5 million. Refinance LTV is typically up to 80% for primary and second homes and 75% for investment property, up to $1.5 million.
Ryan and Steve size the total loan — purchase or refinance balance plus renovation costs, soft costs, and any financed interest reserve — against those caps before you commit to a GC bid.
Four factors usually decide whether you land near the $1.5M ceiling or a lower number.
Primary, second home, and investment each have different purchase and refinance LTV grids. Fix-and-flip investment deals typically run at the investment LTV.
Your loan is sized to eligible property value and the approved renovation budget — not just the asking price or GC estimate alone.
First lien up to $1.5 million; second lien up to $500,000 with a maximum 80% CLTV for eligible primary and second homes.
Credit (700/720), ability to qualify for permanent financing at 1% above market, and overall underwriting strength set the final approval.
Up to 90% at conforming limits for primary and second home; 85%/80% tiers for larger primary amounts; 80% second home up to $1.5M; 75% investment up to $1.5M.
Up to 80% for primary and second home up to $1.5M; 75% for investment property up to $1.5M.
Up to $500,000 second lien with maximum 80% CLTV for eligible primary and second homes — useful when layering renovation funds.
The program does not require mortgage insurance, which can keep carrying costs simpler during the interim interest-only period.
Related Luminate Bank Interim Renovation Loan guides and renovation programs to compare before you apply.
700 conforming / 720 above conforming limits.
No MI required on this interim renovation program.
Interest reserve may be financed into the loan.
New swimming pool construction is an eligible improvement.
Full program overview, LTV grids, draw schedule, and best uses.
Compare interim construction with permanent renovation programs.
Loan amounts vary based on occupancy, loan purpose, property type, and borrower qualifications. First lien loan amounts are available up to $1.5 million, while second liens are available up to $500,000 for eligible transactions. The minimum loan amount is $100,000.
Yes. Maximum LTV differs for purchase vs refinance and by occupancy — for example, investment property is typically capped lower than primary residence. Your maximum loan is the lesser of program LTV and the $1.5M / $500K lien caps.
Yes. The Luminate Bank Interim Renovation Loan requires a minimum total loan amount of $100,000.
Yes. The program requires a minimum repair amount of $50,000. There is no maximum repair amount listed in the matrix.
Yes. Eligible purchase or refinance transactions can include renovation costs in one short-term construction loan, subject to LTV and underwriting.
Ryan & Steve will size purchase or refinance plus renovations against Luminate Bank Interim Renovation Loan LTV grids and lien caps.
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.