Renovation Loans Articles

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Understanding Home Improvement Loans in California Understanding Home Improvement Loans in California

Understanding home improvement loans in California is crucial for homeowners looking to renovate. This guide explores loan options, eligibility, and benefits.

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House Repair Loan: Find the Best Option for Your Renovation House Repair Loan: Find the Best Option for Your Renovation

A house repair loan is a wise decision for financing necessary renovations, remodels, and upgrades to your property.

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Improvement Loan Credit Score Requirements: What to Know Improvement Loan Credit Score Requirements: What to Know

Understanding home improvement loan credit score requirements, as well as basic financing options, is essential to successfully funding your renovation project.

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Types of Loans for Home Renovation: What You Must Know Types of Loans for Home Renovation: What You Must Know

Types of loans for home renovation include personal loans, home equity loans, HELOCs, FHA 203(k) loans, cash-out refinances, and RenoFi loans.

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Home Improvement Financing: Funding For Your Next Project Home Improvement Financing: Funding For Your Next Project

Home improvement financing refers to the various methods homeowners can use to fund renovations, repairs, or home upgrades.

Finance your renovation for
- /month
Loan amount
- +
$500K
$10K
NOT PERSONALIZED LOAN OFFER. Sample payment based on lowest interest rate offered by lender of 8.5% (as of 5/9/24) for a variable-rate RenoFi HELOC with a 10-year draw period (interest-only monthly payments required) and 15-year repayment period (principal + interest monthly payments required), available to applicants with a credit score of at least 740, and assumes debt-to-income and combined loan-to-value ratios within lender guidelines and 100% return of investment on renovation financing. Variable rate determined by prime rate plus lender’s margin. Rate and loan program terms subject to change without notice. Closing costs and fees apply.

Renovation Loans Articles Continued...

Financing Home Renovations: Everything You Need to Know

Financing home renovations involves several different methods homeowners can use to secure funds for renovating, remodeling, or repairing their homes.

Free Home Repair Grants for Senior Citizens

Free home repair grants for senior citizens are provided by government agencies, nonprofits, or private groups to assist older adults with home …

Freddie Mac ChoiceRenovation Loan vs RenoFi Loan: Which Is Better For Renovating?

Discover the differences between Freddie Mac ChoiceRenovation Loans and RenoFi Loans and how they both work for financing renovations.

How RenoFi simplifies the home renovation loan process

Comparing rates, finding the best terms, and spending hours researching lenders is a hassle. With RenoFi, your advisor will find a lender that fits …

6 Best Home Improvement Loans | RenoFi

Discover home improvement loan options to upgrade your home. Get expert advice and tips to secure the best type of loan for your needs.

Before & After: a RenoFi-powered renovation in the city of Philadelphia

From equity-light to airy and bright: how these new homeowners transformed their home before the stay-at-home order.

Before and After: a RenoFi-powered renovation in Ardmore

For Katie and Ken, in a highly-competitive market, their starter home became their best option for the home they needed on a street they love. Hear …

Before and After: a RenoFi-powered renovation in Malvern

For their major renovation project, Joanne and David discovered a source of funding they had no idea was possible thanks to RenoFi’s connections. With …

Before and After: a RenoFi-powered renovation in Queen Village, Philadelphia

From gutted to grand, an eleventh-hour RenoFi Loan helped this family upgrade as they downsized.

Before and After: a RenoFi-powered renovation in Villanova

DJ & Vanessa were just about to close on a traditional construction loan when they discovered RenoFi's renovation home equity loan, which saved them …

Before and After: a RenoFi-powered renovation in West Chester

With a renovation home equity loan, Justin & Nicki discovered they didn’t have to give up the location they love to get the home they love too. Take a …

Everything you need to know about LTV (loan-to-value ratio)

What is loan-to-value ratio and how does it affect how much you can borrow with a home loan?

How do lenders set rates for home equity loans?

Here’s a little background on the different factors that will dictate your rate for a RenoFi Loan. There are four main components that lenders will …

Pros and cons of using a personal loan for a home renovation | RenoFi

Most homeowners have better options to finance a renovation than a personal loan, but many don’t know what these are and why they’re more suitable.

RenoFi Launches First Ever Fixed-Rate Home Renovation Loan | RenoFi

RenoFi’s newest product provides a fixed-rate solution for renovating homeowners

Top 3 Things We Learned from Homeowners at the Home Show

RenoFi went to the Philly Home Show in January with the goal of educating homeowners on financing their renovations, but we learned a lot too! Check …

FHA Loan

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Can You Recast An FHA Loan? Can You Recast An FHA Loan?

You cannot recast an FHA loan, as government-backed loans such as FHA, USDA, and VA do not offer a recasting option.

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Joint FHA Loan: Everything You Should Know Joint FHA Loan: Everything You Should Know

A joint FHA loan enables two people to apply together for a home loan when their incomes may not be enough to qualify individually.

Home Equity Loans

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No Doc HELOC: Everything You Need to Know No Doc HELOC: Everything You Need to Know

No Doc HELOC is a loan allowing homeowners to borrow against home equity without traditional income documentation like tax returns or employment history.

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No Appraisal Home Equity Loan: What You Should Know No Appraisal Home Equity Loan: What You Should Know

You can get a no appraisal home equity loan that allows you to quickly access funds without the hassle of an appraisal.

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Home Equity Loan With Cosigner: What You Should Know Home Equity Loan With Cosigner: What You Should Know

A home equity loan with a cosigner may help increase your chances of getting a home equity loan compared to applying on your own.

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Home Equity: What It Is and How It Works Home Equity: What It Is and How It Works

Home equity is the portion of your home that you own, calculated as the difference between your property's market value and your outstanding mortgage balance.

Construction Loans

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Hard Money Construction Loans: What You Need to Know Hard Money Construction Loans: What You Need to Know

Hard money construction loans are a fast and flexible way to secure lending backed by real estate properties.

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Types of Construction Loans: Guide to Smart Financing Types of Construction Loans: Guide to Smart Financing

Explore types of construction loans, including an innovative alternative, RenoFi loans, which provide higher borrowing power based on your home’s future value.

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An Expert Guide to Construction Loans, and How They Work An Expert Guide to Construction Loans, and How They Work

Learn the ins and outs of construction loans, from the application process to disbursement and major risks. Make informed decisions for financing your construction project.

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3 reasons why you shouldn't use a construction loan for your renovation 3 reasons why you shouldn't use a construction loan for your renovation

There’s a better financing option for your home improvements.

FHA 203k

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FHA 203k Loan Rates: Everything You Need to Know FHA 203k Loan Rates: Everything You Need to Know

FHA 203k loan rates are typically 0.5-1% higher than typical FHA loans because 203k loans let you buy and fix up a house with just one mortgage.

HELOC

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HELOC Requirements: Everything You Need to Know HELOC Requirements: Everything You Need to Know

HELOC requirements typically include having sufficient equity in a borrower's home and a good credit score, among other qualifications.

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100 LTV HELOC: Exploring Pros and Cons of Maximum Leverage 100 LTV HELOC: Exploring Pros and Cons of Maximum Leverage

A 100 LTV HELOC allows you to borrow against the full appraised value of your home, giving you access to a substantial amount of funds.

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No Income Verification Home Equity Loan: What You Need to Know No Income Verification Home Equity Loan: What You Need to Know

A no-income verification home equity loan, or NIV loan, allows homeowners to access the equity in their home without providing traditional income documentation.

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HELOC With 650 Credit Score: What You Need to Know HELOC With 650 Credit Score: What You Need to Know

Getting a HELOC with a 650 credit score, while not ideal, does not typically exclude you from getting a loan.

Home Improvement Loans

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How To Finance An Addition To Your Home How To Finance An Addition To Your Home

Looking to put an addition on your home? Learn about the types of home addition loans, their pros and cons, and how to use them to finance your project.

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An Expert Guide To Home Renovation Loans and How Home Improvement Loans Work An Expert Guide To Home Renovation Loans and How Home Improvement Loans Work

An expert guide to everything you need to know about home renovation loans. Boost your borrowing power by discovering the best renovation loans that factor in the after-renovation value, and tackle your entire home improvement wish list in one go!

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4 reasons why you shouldn't use an unsecured home improvement loan 4 reasons why you shouldn't use an unsecured home improvement loan

Learn why most homeowners shouldn’t use an unsecured home improvement loan to finance a renovation project and what your alternative options are.

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RenoFi Loan requirement checklist RenoFi Loan requirement checklist

Realizing that it’s possible to turn your current home into a home you love is a great feeling. Discovering the smartest way to do it through a RenoFi Home Equity Loan is even better. We'll help you gather everything you need to apply with one of our lending partners using this helpful checklist.

Home Renovation Loans

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Are Home Renovation Loans Tax Deductible? What You Should Know Are Home Renovation Loans Tax Deductible? What You Should Know

Generally, you can’t directly deduct the cost of home renovation projects from your taxable income.

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7 loan options to pay for a home renovation 7 loan options to pay for a home renovation

Finding the best way to pay for a home renovation project can be confusing, and in this guide, we walk you through all of the different options that you have available and lay down the pros and cons of each one.

Other Loan Types

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Home Repair Grants for Disabled Homeowners Home Repair Grants for Disabled Homeowners

Home repair grants for disabled homeowners are financial assistance programs provided by some government and non-government agencies for qualified individuals.

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5 reasons why you shouldn't use a Fannie Mae Homestyle renovation loan 5 reasons why you shouldn't use a Fannie Mae Homestyle renovation loan

Looking for the best loan to finance your home renovation project? These are the biggest reasons why you should consider a RenoFi Loan rather than a Fannie Mae Homestyle Renovation Loan.

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Fannie Mae Homestyle renovation loans: what they are and how they work Fannie Mae Homestyle renovation loans: what they are and how they work

A comprehensive guide to Fannie Mae HomeStyle renovation loans and if they are the best way to finance your renovation.

PACE Loan

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What are PACE loans? What are PACE loans?

Home renovation financing, and specifically PACE loans, got a major shout out on the most recent episode of Last Week Tonight with John Oliver.