Pay off the Luminate Bank Interim Renovation Loan by selling or refinancing into permanent financing. Qualify for permanent loan at 1% above market rate.
After Renovation Is Complete — Interim Construction Loan | The 2 Mortgage Guys
Pay off the Luminate Bank Interim Renovation Loan by selling or refinancing into permanent financing. Qualify for permanent loan at 1% above market rate.
What Happens After My Renovation Project Is Completed?
Temporary Financing — Then Refinance or Sell
At a Glance
The Two Exit Paths
What to Line Up Before Construction Ends
Keep Exploring
Frequently Asked Questions
Want Your Exit Mapped Before You Close?
The Interim Construction 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. Borrowers must qualify for the permanent loan at 1% above the market rate during the underwriting process.
The Luminate Bank Interim Renovation Loan is not meant to be your forever mortgage. It funds purchase or refinance plus major renovations during construction with interest-only payments, then is paid off when the project is finished.
Your exit is typically one of two paths: sell the renovated property and use proceeds to pay off the interim note, or refinance into permanent financing. During underwriting for the interim loan, borrowers must qualify for that permanent financing at 1% above the market rate — so the take-out is stress-tested before you start.
Ryan and Steve map the exit at application so final inspection, listing or refinance, and payoff timing do not collide with the construction window.
Choose the payoff strategy that matches your occupancy and investment goals.
Related Luminate Bank Interim Renovation Loan guides and renovation programs to compare before you apply.
Ryan & Steve will stress-test your refinance or sale take-out at 1% above market for 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.