Renovation financing
made easy

✔️ Get lower rates based on your home's future value
✔️ Borrow more using the first-ever Renovation HELOC
✔️ Keep existing mortgage without refinancing
✔️ Fixed & variable rate options
Loan amount needed
$1000
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The smarter way to finance your renovation

Renovation-specific loans

We partner with lenders to offer a suite of loan products tailored for renovations. Get expert guidance on the best option for you.

Borrow 11x more on average

Our Renovation HELOC lets you access up to $750K*, or up to 90% of your property's after-renovation value - far more than a traditional HELOC.

Streamlined process

Save time and hassle with our streamlined process and get support from start to finish from your Loan Officer.
Estimate my rates

See How Much More You Could Borrow

Use the after-renovation value of your home to borrow 11x more on average than anywhere else.

Unfortunately, RenoFi lenders don’t offer loans for properties in Nevada right now.
Adjust to find your max loan amount
Adjust sliders to find your estimated max loan amount
Up to a maximum of $750,000
Estimated RenoFi max loan amount $500,000
Current home value $750,000
- +
Adjust to find your estimated max loan amount
Remaining mortgage balance $310,000
- +
Expected after renovation value $920,000
- +
290K
Standard home equity loan
500K
RenoFi home equity loan
Explore rates & payments
Explore rates & payments

RenoFi has helped thousands of homeowners

Evan Eagleson

Worked with Jacob from Renofi on a HELOC for a home addition project and the process couldn't have been easier. I was able to text him when needed and he was always responsive and helpful every step of the way. I'd highly recommend Jacob and Renofi.

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1 day ago

Tim Gallagher

Most positive loan experience that I've ever had. Great personal guidance during the process, excellent follow-thru, and a home renovation loan product perfectly suited to our needs. Special props to Lee B, for his guidance and service. 10/10

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2 days ago

Julie Erickson

I worked with Khadija at Renofi and with her help found a loan option that made my project feasible. She was always available for questions and even as variables changed during the process, she made adjustments to make sure we were finding the best available option for what we needed. Highly recommend.

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12 hours ago

Schwartz Family

Ryan V. and his team at RenoFi were fantastic to work with. Ryan guided us through the entire process from initial contact through closing. He was communicative, responsive, and made what could otherwise be a dreadful process painless. We got great terms and never felt pressured. We would absolutely recommend RenoFi!

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12 hours ago

James

RenoFi worked with us to find the right lender for our 800SF addition & home renovation project. The team was able to navigate our needs based on a couple phone calls and a couple emails. The loan fit our needs within our time frame and was processed quickly. I recommend this company to anyone that owns a home

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12 hours ago

Kara Goldsmith

Abby and Jessica were amazing to work with! This was by far the smoothest loan process we’ve ever experienced! From our first call to funding, it took 2 days! I highly recommend RenoFi to anyone looking to fund their next home project!

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12 hours ago

Emanuel Ramirez

I worked on getting a loan with Renofi with Devon and Kylie. They were phenomenal and answered all of my questions and gave me the best and fastest response one could get from loan officers.

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2 days ago

Scott Winstead

Application was easy to follow and upload the required documents. Jacob was outstanding in his communication and feedback as the process progressed. He displayed professionalism and confidence that made me feel extremely comfortable with this decision. Loan went through without a hitch with no surprises. Much gratitude to Jacob for a job well done.

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12 hours ago

Shannon S.

We are very pleased with Renofi. Derron Pocci was a breeze to work with and made the process seamless and clear. Highly recommend.

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12 hours ago
Explore more reviews

Justin & Nicki

Justin & Nicki's renovation added 850 sq. ft. to their home in the shape of a new great room with entry from backyard, new master suite with walk-in closets and all new exterior siding & roof.

Home Value

Post-Renovation
$807,000
Pre-Renovation
$405,000

Borrowing Power

RenoFi Fixed Rate Home Equity Loan
$200,000
Stadard Home Equity Loan
$110,000
Read Justin & Nicki's Story
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Home Value

Post-Renovation
$807,000
Pre-Renovation
$405,000

Borrowing Power

Post-Renovation
$200,000
Pre-Renovation
$110,000
Read Justin & Nicki's Story

Danielle

A RenoFi Loan helped this family achieve their dream renovation, which included a new walk-in closet, a walk-in shower and two sinks in the bathroom, and an upgraded kitchen.

Home Value

Post-Renovation
$505,000
Pre-Renovation
$385,000

Borrowing Power

RenoFi Fixed Rate Home Equity Loan
$230,000
Standard home equity loan
$110,000
Read Danielle's Story
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Home Value

Post-Renovation
$807,000
Pre-Renovation
$405,000

Borrowing Power

Post-Renovation
$200,000
Pre-Renovation
$110,000
Read Danielle's Story
Homeowner Stories Joanne and David

Joanne & David

When their family of three became four, Joanne & David knew they needed to upgrade their space. Thanks to a RenoFi Loan, they were able to turn their current home into their dream home by opening up the first floor and completely redoing their kitchen.

Home Value

Post-Renovation
$550,000
Pre-Renovation
$385,000

Borrowing Power

RenoFi Fixed Rate Home Equity Loan
$185,000
Standard home equity loan
$58,000
Read Joanne & David's Story
Thank you! Your submission has been received!
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Home Value

Post-Renovation
$807,000
Pre-Renovation
$405,000

Borrowing Power

Post-Renovation
$200,000
Pre-Renovation
$110,000
Read Joanne & David's Story

RenoFi offers loans for every scenario

Competitive
HELOCs & HELOANs

Loan amounts of $10k to $750k
Borrow up to 90% of home’s current value 
Variable or fixed rate
Multiple draw & repayment periods available
Line of credit or fixed-term

RenoFi Loans based on After-Renovation Value

Loan amounts of $25k to $750k
Borrow up to 90% of home’s after-renovation value
Variable or fixed rate
Multiple draw & repayment periods available
Line of credit or fixed-term

Renovation
Personal Loans

Loan amounts up to $75k
Borrow based on your credit & income
Fixed rate
Up to 20 year repayment
term
Fixed-term
Find the Right Loan

Frequently asked questions

A “RenoFi Loan” refers to loans made by third party lenders powered by RenoFi’s proprietary Renovation Underwriting technology. RenoFi Loans use the home’s After Renovation Value (“ARV”) to increase homeowners’ borrowing power. RenoFi is not a lender but instead, works with various lenders to incorporate its renovation underwriting technology into lenders’ existing loan-underwriting process. RenoFi works with homeowners to find lenders offering both RenoFi Loans and other traditional loan products, including mortgage loans and personal loans.
A cash-out refinance loan, home equity loan, or home equity line of credit (HELOC) allows you to borrow against the current value of your home, whereas RenoFi Loans allow you to borrow against the after renovation value, or future value of your home. For homeowners who have been in their homes for 10+ years, borrowing against current home equity is fine because they’ve built up a lot of equity over the years and don’t have as large of an outstanding mortgage balance. But for recent homebuyers, a true renovation loan often offers higher borrowing power. It is important to note that if you take a RenoFi Loan there is no guarantee your home will increase in value and, in rare cases, you may owe more than your home is worth.
You can't obtain a RenoFi Loan without working with RenoFi first. We partner with specific credit unions to offer the RenoFi Loan, but our RenoFi team will do everything to prepare you to apply before handing you off to the credit union. You can look at us as a concierge, who will walk you through the journey of considering and then preparing for a renovation. Banks love us because they prefer to work with educated consumers. After our process, you’ll be ready to rock and roll with your lender. Our RenoFi advisors are seasoned experts that will guide you through finding the best financing option for your renovation project, regardless of whether or not you decide to apply for a RenoFi Loan with one of our lending partners.
Yes, most lenders offering RenoFi Loans allow you to apply once you’ve closed on the home, meaning they don’t have any “seasoning” requirements. The RenoFi Home Equity Loan is specifically designed for homeowners who’ve recently purchased or are about to purchase a home, and are therefore “equity light,” and aren’t able to borrow enough money to fund a renovation with a traditional home equity loan.
Lenders base this on several different metrics including your current home value, your home’s estimated “after renovation value,” your outstanding mortgage, and your overall financial health. RenoFi Loans range from $25k up to $750k depending on the program, though please note that loans over $500k carry extra requirements, such as a lower maximum LTV and additional reserves. Additionally, lenders allow homeowners to borrow up to 150% of the current home value or up to 90% of the after renovation value, whichever is lower. See how RenoFi’s home improvement loan calculator helps you determine how much you can borrow.
After renovation value is the estimated value of your home after your renovation is complete. You can estimate your after renovation value by using the current value of your home, plus the added value of your planned renovations. Homeowners can borrow up to 90% of their home’s after renovation value through a RenoFi Loan. You can find out your home’s after renovation value by getting an “as completed” appraisal on your home. This appraisal is based on the proposed renovation plan, on the condition that it is completed. Read more about how the after renovation value is determined here.
No! There are several different versions of RenoFi Loans, including home equity options that do not require you to refinance. With so many homeowners having locked in ultra low rates, this is especially helpful and one of the key things that makes RenoFi Loans so unique!
Rates are set by the lenders and can vary slightly lender to lender. RenoFi Renovation Home Equity Loan rates vary depending on several different factors but the two most critical are your credit score and the loan to value ratio (LTV) based on your after renovation value. In general, RenoFi Loan rates are often better than the home equity loan rates you’d find at most banks. That’s possible because RenoFi Loans are offered by credit unions who are well known for having low rates & fees. To learn more about rates, try the RenoFi Loan calculator today.

Lenders offering RenoFi Loans may charge closing costs and fees as they would for any home equity loan. Closing costs vary by lender and for RenoFi Home Equity Loans range from several hundred dollars ($700-$800) up to 1% of the loan amount. These costs typically include an origination fee, title and escrow fees, tax certifications, recording fees, other underwriting costs paid by the consumer to the lender, and may include title insurance for higher loan amounts. Closing costs do not include the cost of the appraisal.

The average appraisal cost is around $700, but can be in excess of $1000 depending on renovation size, complexity, and geographic location. It is important to note that the lender is taking the application and making a loan decision and that it is possible that you pay for an appraisal and are not approved for a loan.

During the renovation, some lenders may charge a monthly fee or a higher rate, but this is temporary and will cease once the renovation completes and RenoFi issues a certificate of completion.

The RenoFi fixed-rate home equity loan being offered by some of our lending partners has term options of 10, 15 and 20 years. The RenoFi variable-rate home equity line of credit structure varies by lender. You can learn more here on the RenoFi Loans page. Please note lender programs vary by lender and lenders vary by state. Speak with a RenoFi Advisor today to learn more.
There’s lots of documentable information related to your home, your income and your general financial situation that you need to have ready before you apply with a lender. If you’re interested in applying for a RenoFi Loan, we recommend reading this checklist, as well as the Top 14 Reasons Homeowners Can’t Qualify for a RenoFi Loan article.
RenoFi currently works exclusively with credit unions that provide RenoFi Loans. RenoFi will identify the best credit union for your situation, which usually means the one who can offer competitive rates, low fees and the right loan amount.
Yes. RenoFi Loans act as a second mortgage, which means they won’t touch your first mortgage. No need to refinance your first mortgage if you’ve already locked in low interest rates!
Once you collect all of the documents necessary to apply for a RenoFi Loan and connect with a lender, RenoFi completes its Renovation Underwriting process, including the ordering of the appraisal. Appraisals are typically what takes the longest, typically between 14 & 30 days.. Once the appraisal is returned and the renovation underwrite is complete, you will apply with the lender and the lender will complete their financial underwriting, which can require an additional 15-30 days until close. Timing will depend on your unique situation and the lender that you’re matched with but you should expect approximately 30-60 days between both steps to close once the necessary documents are collected. RenoFi cannot guarantee that you will be approved for a loan with any lender offering RenoFi Loans, or in any specific time frame.
Most lenders offering RenoFi Loans today do not have any prepayment penalties built into their loans.
Nope! We’ve designed RenoFi Loans in a way that makes life much easier for homeowners & their general contractors. The entire loan amount is made available by the lender upfront. After the renovation is completed, the appraiser visits the home to issue a certificate of completion. Read more about the differences between RenoFi Loans vs other loan types.
After renovation value is the estimated value of your home after your renovation is complete. You can estimate your after renovation value by using the current value of your home, plus the added value of your planned renovations. Homeowners can borrow up to 90% of their home’s after renovation value through a RenoFi Loan. You can find out your home’s after renovation value by getting an “as completed” appraisal on your home. This appraisal is based on the proposed renovation plan, on the condition that it is completed. Read more about how the after renovation value is determined here.
You do not need a signed renovation contract to begin RenoFi’s Renovation Underwriting process, however you will need these documents to close with the partner lender. Lenders require finalized construction plans, along with a signed renovation contract between you and your contractor, and a detailed material and labor line item cost breakdown with a clear payment schedule. It’s important to get all of your ducks in a row before you make these commitments. Read this article to find out more about exactly what you need from your contractor in advance.
In order to be approved by a lender for a RenoFi Loan you will need to have finalized your renovation plans. Some homeowners wait to sign the actual contract between themselves and their General Contractor until they are officially approved for the financing and that is ok, but you will need a signed contract to close on the financing.

Check out more of our FAQs

FAQs

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