Temporary, interest-only construction financing for major renovations before permanent financing or property sale — fund the work, draw as progress is made, then refinance or sell to pay off the interim loan.
Interim construction
Interest-only · Up to 2 draws/month
Qualify for permanent financing at 1% above market rate
An interim construction loan is temporary, interest-only financing used during construction or renovation. You close on the interim loan, renovation dollars are held in escrow, and funds are released through draws as work is completed and inspected.
Unlike permanent renovation programs such as FHA 203(k), HomeStyle®, or Freddie Mac CHOICERenovation®, the Luminate Bank Interim Renovation Loan is designed as a short-term bridge — typically paid off by selling the property or refinancing into permanent financing once the project is complete.
Ryan and Steve help investors and owner-occupants map the draw schedule, contractor requirements, and exit strategy — refinance or sale — before you commit to the interim note.
700 minimum for loan amounts up to conforming limits.
720 minimum for loan amounts above conforming limits.
$100,000 minimum total loan amount.
Maximum loan amount up to $1,500,000.
Maximum loan amount up to $500,000 with a maximum 80% CLTV for eligible primary and second homes.
Loan-to-value limits vary by transaction type, occupancy, and loan amount tier.
Purchase
| Primary & second home — conforming loan limit | 90% |
| Primary residence — up to $1 million | 85% |
| Primary residence — up to $1.5 million | 80% |
| Second home — up to $1.5 million | 80% |
| Investment property — up to $1.5 million | 75% |
Refinance
| Primary residence — up to $1.5 million | 80% |
| Second home — up to $1.5 million | 80% |
| Investment property — up to $1.5 million | 75% |
This calculator is for informational purposes only. Results are estimates and are not exact — they do not include all closing costs, prepaid interest, or escrow deposits. Contact us for a personalized quote.
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. Calculator estimates are illustrative and do not constitute underwriting approval.
Mortgage Knowledge Center
Deep-dive guides on what an interim construction loan is, how it works, who qualifies, buying and renovating, refinancing, fix-and-flip, investor eligibility, property types, eligible renovations, tear-down/rebuild, pools, credit, loan amounts, mortgage insurance, interest reserve, contractor payments, draws, timelines, DIY work, and what happens after construction.
Ryan and Steve will review your project scope, draw schedule, and exit strategy — then compa => window.open(APPLY_URL, '_blank', 'noopener')} class="px-8 py-4 rounded-xl bg-[#020617] text-white text-lg font-semibold transition-all duration-200 hover:bg-[#0f172a] active:scale-[0.98] active:translate-y-[1px]">Get Pre-Approved