The most money and lowest monthly payment for your renovation

Borrow up to 90% of your future home value with a RenoFi Renovation Loan.

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I want to renovate:

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Unlike traditional loans, RenoFi Loans factor in what your home will be worth after the renovation.

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Longest Terms, Lowest Rates

Terms up to 30 years. Rates are based on the after renovation value.

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No Refinancing Required

Have a great rate locked in on your first mortgage? No problem!


EASIER than a construction loan

No draws, no inspections, no contractor involvement.

How much more can you borrow with a RenoFi Loan?

Can borrow up to $55K

Standard home equity loan

Can borrow up to $150K

What our customers say

See what makes RenoFi Loans different

Renovation loans
Standard Cashout RefiStandard Home Equity LoanConstruction Loan
Loan based on the after renovation valueYesNoNoYes
Borrow up to 90% after renovation valueYesNoNoNo
Refinancing always requiredNoYesNoYes
Requires inspections & draws*NoNoNoYes
Increased borrowing power

Increased borrowing power

11x more (average)

Renovations in the works

Renovations in the works

Over $510 million

Real customer reviews

Real customer reviews

5 star average (Google)

Frequently asked questions

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.
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.
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. Most lenders allow RenoFi Loans to cover up to $500k in renovation costs, though please note that loans over $250k will have stricter qualification criteria. Additionally, most lenders allow homeowners to borrow up to 125% of the current home value and up to 90% of the after renovation value. See how RenoFi’s home improvement loan calculator helps you determine how much you can borrow.
RenoFi Loans come in several different varieties, including both fixed rate and variable rate options. Certain loan types may not be available in all states. Get connected with a RenoFi advisor to learn more.
RenoFi’s services are free for homeowners, whether you decide to move forward or not. 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. We can work with you before closing on a home to gather as many necessary documents as possible, so that as soon as you close, we have all documents needed to send the application along to our lending partner. Remember, you should let your proposed lender know before you close if you are sure that you will be applying for a RenoFi Loan.

Lenders offering RenoFi Loans may charge fees as they would for any home equity loan. Fees for RenoFi Home Equity Loans typically average around $495, which includes all processing and underwriting costs paid by the consumer to the partner lender other than the cost of the appraisal.

Because these are unique appraisals, they have a higher cost than typical appraisals. 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.

RenoFi provides lenders with our Renovation Underwriting services. These services include a thorough review of the renovation project cost and scope, due diligence on the contractor, reconciliation of the appraisal and monitoring of renovations in progress. As such, if you decide to proceed with a RenoFi Loan, we will be paid for these services by the partner lender. RenoFi doesn’t charge any fees to homeowners and there is no obligation to obtain a RenoFi Loan.

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.