The minimum required credit score is generally 700 for loan amounts up to conforming loan limits, and 720 for loan amounts above conforming loan limits.
Under the Luminate Bank Interim Renovation Loan matrix, credit expectations step up when your loan amount moves above conforming limits. Conforming-sized interim loans generally need a 700 minimum; larger amounts generally need 720.
Those floors apply across eligible occupancy types — primary residence, second home, and investment property — for purchase, rate/term refinance, renovation, and fix-and-flip uses.
Ryan and Steve also underwrite you for the permanent take-out: borrowers must qualify for permanent financing at 1% above the market rate during the interim underwriting process.
Know which floor applies before you size the purchase, refinance, and renovation budget.
For interim loan amounts at or below current conforming loan limits, the matrix generally requires a minimum credit score of 700.
When the loan amount exceeds conforming limits, the minimum credit score generally rises to 720.
LTV by occupancy and purpose, property type, minimum $50,000 repairs, contractor structure, and permanent take-out qualification all matter.
Because this is a 12-month interest-only interim product, underwriters also want confidence you can refinance at 1% above market or sell when work is complete.
We look at score, tradelines, and recent credit events before you lock a contract or GC bid — so surprises do not stall closing.
If your project pushes above conforming limits, we confirm whether 720 is in reach or whether a conforming-sized structure still meets your goals.
Investment and higher loan amounts carry tighter LTV caps. Strong credit helps, but down payment and equity still drive the structure.
We model the permanent qualification at 1% above market so you are not left without an exit when the 15-month construction clock ends.
Related Luminate Bank Interim Renovation Loan guides and renovation programs to compare before you apply.
Primary, second home, and investment occupancy — plus credit overview.
First lien up to $1.5M; second lien up to $500,000.
No MI required on this interim renovation program.
Interest reserve may be financed to reduce out-of-pocket carrying costs.
Full program overview, LTV grids, draw schedule, and best uses.
Compare interim construction with permanent renovation programs.
The minimum required credit score is generally 700 for loan amounts up to conforming loan limits, and 720 for loan amounts above conforming loan limits.
No. Credit is one pillar. Occupancy, LTV, property type, income/assets for permanent take-out qualification, and the renovation scope all factor into underwriting.
You may need to improve credit before applying, or compare other renovation and construction options with Ryan and Steve. This interim product’s matrix targets 700/720 minimums.
Yes. Loan amounts above conforming limits generally require a 720 minimum credit score under the program matrix.
Ryan & Steve will review your score, target loan amount, and permanent take-out 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.