The most money and lowest monthly payment for your renovation

Borrow up to 90% of your future home value with a RenoFi Renovation Loan


What is RenoFi?

RenoFi connects homeowners with lenders that provide RenoFi Loans, helps them prepare their loan application, and conducts renovation underwriting. Learn more about RenoFi for contractors or get in touch with our partnerships team via Email or call 267-817-4776.

RenoFi is not a lender - but RenoFi does work in conjunction with lending partners to provide RenoFi Loans. 

RenoFi helps pre-qualify homeowners, including reviewing their contractors, renovation plans, financial situation, and more, before connecting them with a lending partner to apply for a loan, to make sure that they are a great fit. 

What is a RenoFi Loan?

RenoFi Loans are a unique loan type- they’re the first type of home equity loan dedicated solely to renovation financing, which means they have some special features. 

Currently, RenoFi’s lending partners offer two main product types: RenoFi Home Equity Loans and RenoFi Home Equity Lines of Credit

Homeowners are eager to work with RenoFi because RenoFi Loans offer 11x the borrowing power of traditional home equity loan options, on average. 

RenoFi Loans are based on a home’s after renovation value, rather than the home’s current value, which allows homeowners to borrow a lot more. 

Depending on a homeowner’s financial situation, they can take out a loan of anywhere from $20,000 to $500,000. RenoFi Loans allow homeowners to complete major renovation projects sooner rather than later. 

How Do Homeowners Prepare To Apply?

Homeowners start by using the RenoFi Loan Calculator or the Find a Lender button, answering several basic questions about their renovation, and providing some contact information. 

After, they’ll receive an estimate of their monthly payments, interest rates, and recommended lending partner. 

At this point, homeowners can self pre-qualify for a RenoFi Loan, set up a call with a RenoFi Advisor, and begin to upload documents to our online portal for our Renovation Underwriters to review. 

Check out the full list of documents that homeowners are required to upload

Some of these documents pertain to the essential as-completed appraisal, which is an official evaluation of the home’s value contingent on the renovation project. RenoFi also helps the homeowners facilitate this appraisal, which will determine their exact borrowing power.

What Does RenoFi Require From Contractors?

Part of RenoFi’s evaluation process for homeowners involves making sure that homeowners have a legitimate contractor for their project. 

Therefore, we ask all homeowners to provide their proposed contractor’s contact information, so we can send them a survey to ask a few questions about their business. (You may have gotten an email from us recently with a link to this exact survey).

If a homeowner is planning on financing their renovation with a RenoFi Loan, they cannot move forward in getting their loan approved until their contractor has filled out this survey. 

While this survey is the only thing required directly from contractors, homeowners are required to provide renovation plans, a renovation contract (does not have to be signed), and a cost breakdown.

See examples of documents that homeowners have submitted in the past.

Why Do Contractors Love RenoFi?

Part of our goal in creating RenoFi as a financing path for renovations was making renovation financing easier for contractors. Many of our homeowners are also considering construction loans or other types of renovation loans like FHA 203ks or Fannie Mae Homestyle Loans

While these loan products are great options for some homeowners, they require complicated draws and inspections throughout the renovation process, and homeowners aren’t able to pay their contractors up front. 

RenoFi Loans can provide similar or even more borrowing power, but instead, homeowners are able to receive their loan amount in full in advance of their renovation, and pay their contractor on a mutually agreed upon schedule. 

RenoFi Loans make renovations possible for many homeowners who wouldn’t have otherwise been able to renovate, and they make renovations easier for the contractors that they work with.

What Is the RenoFi Loan Timeline?

1. Homeowners upload documents 

This is when you’ll be contacted by RenoFi to fill out a survey, and homeowners will be required to upload their renovation contract and plans. 

2. Homeowners order an appraisal

Depending on demand, market conditions, and other factors, the appraisal can take anywhere from a few weeks to over a month. 

3. Homeowners apply with lender

RenoFi will connect your homeowner with a lender, and this when they will officially apply for their loan and may get approved. 

4. Homeowners receive loan

If both RenoFi and the lender determine that the homeowner is a good fit for a RenoFi Loan and their application is approved, the homeowner will receive the loan amount in full. 

If you have further questions about RenoFi or RenoFi Loans, please visit our FAQ page or email us at [email protected]

Find a Lender