Renovation and Construction Financing

Build smarter with Luminate bank’s RENOVATION AND construction loan options.

Whether you’re working with a builder, designing a custom home, or renovating a property from the studs up, you need a loan that’s built around your timeline and goals.

At Luminate Bank, we offer a variety of programs tailored to get the job done, including construction-to-permanent loans, one-time-close, and two-time-close programs that help simplify the process and reduce your stress.

We’ll help you understand the difference, choose the right structure, and walk you through every step until move-in day.

FHA CONSTRUCTION

An FHA construction loan combines your land purchase, building costs, and permanent mortgage into a single, government-backed loan. Qualifying buyers may be able to put as little as 3.5% down. 

CONVENTIONAL CONSTURCTION

A conventional construction loan is a non-government-backed mortgage used to build a custom home or finance a major renovation. It is often structured as a "construction-to-permanent" (one-time close) loan, which covers the build phase and then automatically converts into a standard 15- or 30-year mortgage

VA CONSTRUCTION

A VA construction loan is a specialized mortgage guaranteed by the Department of Veterans Affairs that allows eligible Veterans and active-duty service members to finance both the purchase of land and the construction of a new home in a single loan, typically without needing a down payment.

JUMBO CONSTRUCTION

If you’re in the market for a luxury property or an upscale home that exceeds typical financing limits, a jumbo loan is often the best way to secure the home you want.

ONE-TIME CLOSE

A single loan that covers both construction and your permanent mortgage. You’ll close once, lock your rate early, and reduce fees and paperwork.

TWO-TIME CLOSE

Separate loans for construction and your long-term mortgage. This gives you added flexibility, especially if you’re unsure of your permanent financing needs upfront.

Construction financing is available for Manufactured and Modular Homes.

Ready to Take the Next Step? Reach Out and We'll Review Your Details Together!

Our team is available to review your specific situation and financing options, whether you already own the land, want to purchase land and use your own builder, or refinance a renovation, and more!