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How it Works

RenoFi Loans are similar to traditional mortgages & home equity loans with one key difference. By using the after renovation value instead of your home's current value, RenoFi Loans enable you to borrow the most money at the lowest rates.

RenoFi is not a lender, rather we’ve partnered with lenders who offer RenoFi Loans. These lenders leverage RenoFi's technology platform to seamlessly offer RenoFi Loans.

4 Simple, Fast and Easy Steps to a RenoFi Home Renovation Loan

Step 1 -
Project Eligibility

Not all renovation projects are a fit for a RenoFi Loan and this can vary by lender. Start by seeing if your project is eligible.

Step 2 -

Before you can apply for a RenoFi Loan with a lender you’ll need to have your renovation plans finalized. Don’t worry, the RenoFi team is here to help you prepare!

Step 3 -
Apply with a Lender

When your renovation plans are finalized, you’ll apply directly with the lender of your choosing.

Step 4 -

From the time you apply, it typically takes about 3 weeks for the loan to close with your chosen lender. Once the loan is closed, the funds are available and you are ready to start renovating!

How do I know if a RenoFi loan is right for my project?

The RenoFi team is standing by to help you better understand how RenoFi Loans work and the projects they are best suited for. Have a question - Chat, Email, Call now...

Have More Questions About RenoFi Home Renovation Loans?

We've compiled the answers to questions other homeowners have asked...

RenoFi Home Equity Loans give homeowners the benefit of the improvements they are making to their home up front, meaning the home value used in the loan is the after renovation value, not the current home value. We've written extensively on how this works.
Lenders offering RenoFi Loans work with RenoFi’s Renovation Underwriting Platform along with licensed, experienced renovation appraisers to perform an appraisal based on your renovation plans. We wrote all about it here.
Nope! If you have a great rate locked in on your primary mortgage, there is no need to lose that rate and pay mega closing costs all over again.
We have a complete checklist that you can find here.

Additional questions? Check out more of our FAQs or speak with us today to learn more.