Yes. Eligible homeowners can refinance an existing property and finance major renovations using an Interim Construction Loan.
If you already own a property that needs major renovations, the Luminate Bank Interim Renovation Loan lets you refinance the existing mortgage and roll eligible renovation costs into one short-term construction note — subject to LTV, credit, and property guidelines.
Renovation dollars are escrowed and released through construction draws, not paid out as cash at closing. You make interest-only payments during the 12-month interim period, then pay off the loan by selling the property or refinancing into permanent financing once work is complete.
Ryan and Steve compare interim refinance-and-renovate against permanent programs like HomeStyle® or Freddie Mac CHOICERenovation® refi to find the cleanest path for your timeline.
Maximum loan-to-value on rate/term refinance with renovation.
| Scenario | Max LTV |
|---|---|
| Primary residence — up to $1.5 million | 80% |
| Second home — up to $1.5 million | 80% |
| Investment property — up to $1.5 million | 75% |
You need short-term construction financing with a defined exit — sell the property or refinance into permanent financing within 12–15 months. Common for investors renovating before sale or owners planning a major rehab before a permanent take-out loan.
If you want one long-term mortgage that includes renovations and plan to keep the property for years, permanent programs like HomeStyle® or Freddie Mac CHOICERenovation® rate/term refinance may be simpler — no interim payoff required.
Related Luminate Bank Interim Renovation Loan guides and renovation programs to compare before you apply.
Define the short-term interest-only bridge product and how it differs from permanent renovation loans.
Escrowed funds, construction draws, interest-only payments, and exit strategies.
Occupancy, credit score, and borrower qualification basics.
Financing purchase price and renovation costs in one short-term loan.
Full program overview, LTV grids, draw schedule, and best uses.
Compare interim construction with permanent renovation programs.
Yes. Eligible homeowners can refinance an existing property and finance major renovations using an Interim Construction Loan through the Luminate Bank Interim Renovation Loan program.
The program supports rate/term refinance combined with renovation financing. Renovation funds are escrowed for construction draws — not distributed as cash at closing like a traditional cash-out refinance.
Refinance LTV limits: up to 80% on primary and second homes up to $1.5 million, and up to 75% on investment properties up to $1.5 million.
The interim loan is a temporary, interest-only financing solution. Once construction is complete, the loan is intended to be paid off by selling the property or refinancing into permanent financing.
Ryan & Steve will review your equity, renovation scope, and exit strategy against Luminate Bank Interim Renovation Loan refinance 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.