RenoFi home renovation loans allow you to borrow up to 90% of the after renovation value

Loans offered by lenders

RenoFi Home Equity

Fixed rate or a variable rate without the need to refinance your first mortgage.

Why a RenoFi Loan is the best loan for your renovation

Renovation Loans
Standard Cashout RefiStandard Home Equity LoanConstruction Loan
Loan based of the after renovation valueYesNoNoYes
Borrow up to 90% post renoYesNoNoNo
Refinancing always requiredNoYesNoNo
Doesn't require inspections & draws *YesNoYesNo

Why RenoFi’s Lending Partners are better

They have lower fees

instead of pocketing profits, credit unions offer you savings.

They offer lower rates

and all the same financial products as banks.

They are member-focused

thanks to a unique membership structure with great care & support.

They are more flexible

and willing to work through your financial challenges.

We hold your hand throughout your renovation journey


Know your true borrowing power

Play with Calculator to see loan amount & rates. We are here to ensure you are getting the best loan for your renovation and to guide you through the application process every step of the way.

open RenoFi calculator

Get prepped & vetted by RenoFi

Provide your details and documents through our secure online portal for review. We do a thorough end-to-end vetting process of your contractors. Our due diligence verifies that your contractors have a history of completing renovations of the similar size and scope to your project, and that you aren’t being overcharged.


Apply with matched lender

Once your application and renovation underwriting is done it’s sent to your matched lender for you to officially apply. Over the course of your renovation, we will be checking in with you to make sure everything runs smoothly.

Our success is tied to your success

A loan should keep you secure, no matter what

“We contacted RenoFi after we started the renovation. Expenses went beyond our expectations. Then COVID hit. There was no way we could finish the renovations. No where in the world you can get a loan that monthly payments this low. RenoFi has some GREAT people that made the process real easy for us. THANK YOU RENOFi for making our dream renovation come true!”

Engin Ozertugrul,

Your companion all the way to the finish line

“When my husband and I needed a loan for home improvements, one of the contractors who bid on the job suggested RenoFi. Although I did not accept their estimate, I am glad I followed up on RenoFi! We got fast, personal service. Every step of the process was professional. We were matched with an excellent credit union that I had not known about and got an excellent loan offer. RenoFi will help you find a good lender, and the process will be smooth. My husband does NOT like to do paperwork but we had no problems getting the loan closed quickly with the help of RenoFi.”

Rosemary Buetikofer,

Your renovation dreams - your rules

“The RenoFi product gave me the exact level of flexibility I was looking for when building my home. They offer construction financing that to my knowledge is not available anywhere else in the market. They guided us through the process with the lender and were an advocate for us as homeowner with the GC. The RenoFi loan product augmented our custom home building experience by giving us the flexibility to adapt and pivot as issues arose during our project. I was able to make changes along that way that kept us on track in delivering our dream home and it would not have been possible with a more traditional construction loan. This was a large investment for our family. In addition to contributing to our getting the home we sought by renovating, I was able to create more value long term with this loan product than had I used other construction financing options. The people at RenoFi are good people that have your interest in mind and you will not be disappointed in choosing them for your project.”

Greg Winther,

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Got questions?
We’ve got answers.

We are standing by to help you better understand how RenoFi Loans work and the projects they are best suited for.

Acri, PA

“The folks at RenoFi worked so hard to ensure that we got the proper financing for our rehab. We had a pretty unique situation, having started our renovation before contacting RenoFi. They got us the right loan for the situation. I cannot say enough good things about how they had our backs from start to finish. Thank you!”


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.
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, 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. 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.
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.

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.

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.
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