4 Simple Steps to Your Renovation with RenoFi
You have decided a renovation project is the best way to get a home you really love. And you know you need a loan, but perhaps what you don’t know is where to start. We know it can be overwhelming, but take a deep breath. We are here to help guide you through the process!
At RenoFi we break the renovation financing process into 4 simple steps that will walk you through the initial phase of getting your renovation off the ground. Here is what you need to know:
1. Get Pre-Qualified
The very first thing you’ll do is have a chat with our dedicated licensed RenoFi Loan Manager. With an understanding of your specific financial situation and renovation goals, the Loan Manager will let you know which loan options you qualify for and which are the best fit for you.
Our Loan Manager is happy to answer all your questions, so schedule your call today!
2. Prepare to Apply
Now that you’re pre-qualified, you are ready to dig in more. The next steps will require you to select your contractor, finalize your renovation plan, and gather your financial documents.
Contractor and Renovation Plans: Before making your decision, note that your contractor must be licensed and insured in the state you reside. You’ll need them to provide a detailed estimate with as much line item information as possible, as well as a formal contract to proceed. These items will not only be required to apply, but they’ll help you get a comprehensive understanding of the project’s budget in full.
Financial Documents: In order to prepare your application, you will also need to gather a few financial documents as well, such as proof of income and homeowner’s insurance. We’ve created a helpful online checklist so you don’t miss anything.
3. Get Matched with a Lender
RenoFi is not a lender. But we do make finding one easy. We know you could spend weeks contacting countless lenders for quotes to compare, so instead, we utilize our unique partnerships with the best local credit unions to match homeowners with the right lender for them. It’s our goal to find the best lender for your specific situation with the lowest rates and fees, so you can apply directly with them. This way, you’ll save you a lot of valuable time and continue to save money for years to come.
4. Start Renovating!
This is the fun part. And since you’re working with RenoFi, you can enjoy the process knowing you financed it all the smartest way possible.
If you’re ready to get started, so are we. Contact us today to get you one step closer to a home you love!