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.
Loans offered by our lending partners
Fixed rate without the need to refinance your first mortgage.
Peace of mind of a fixed rate without the need to refinance your first mortgage.
Loan amounts of
25,000 to 500,000
Rate | Fixed rate |
Terms | up to 20 years |
Borrowing power | Up to 90% of the AFTER renovation value |
Disbursement | Full loan amount distributed at closing |
The RenoFi Loan is unique because you’re able to borrow against what your home will be worth after the renovation is completed.
We’ll appraise your current home value and then the future home value, using the renovation plans that you submitted to RenoFi.
Have a primary residence that is a single family home or townhouse? We can help! (ADUs are also ok if it’s being constructed on the property of your primary residence.)
While our lending partners are unfortunately not working with investment properties, properties titled in an LLC, or mobile/manufactured homes for after renovation value-based loans, RenoFi partners DO offer loans based on the current value for investment properties. Ground up new construction also is not supported - you’ll need a construction loan for that project.
If you’ve already started construction, this doesn’t automatically disqualify you for a RenoFi Loan, however, if you’re already deep into the construction process, lenders are less likely to approve your application.
We’ll appraise your current home value and then the future home value, using the renovation plans that you submitted to RenoFi.
Our Advisory team is 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.
Play with our Calculator to see loan amount & rates and get self-prequalified to check if you might be a good fit for the loan.
Provide your personal details and documents through our secure online portal to be matched with a lender - see RenoFi Loan Requirement Checklist.
Once your application and renovation underwriting is done it’s sent to your matched lender for you to officially apply. If approved, you get direct access to the funds.
We are standing by to help you better understand how RenoFi Loans work and the projects they are best suited for.
Corey
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!”
Lenders offering RenoFi Loans may charge closing costs and fees as they would for any home equity loan. Closing costs vary by lender and 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 varies 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.