The most money and lowest monthly payment for your renovation

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


By now, you’ve probably discovered that home remodels cost a lot of money. A new kitchen island, that master bathroom, or the converted garage will probably make your life a lot easier, but it’ll cost a bit more than what you have saved.

So, you’re looking into the smartest loan option for your project, and you’ve discovered renovation loans. Awesome! You’re ahead of 98% of borrowers. 

Next, it’s time to pick a renovation loan that will provide maximum borrowing power with the best terms, lowest fees, and lowest interest rates for you. And you have no idea where to start. 

Read on to find out more about finding a renovation loan lender, and RenoFi’s process that does the searching for you.

Which Lenders Offer Renovation Loans?

Not many banks - local or national - provide renovation loans. The search to find the best renovation loan is a lot more time consuming than finding a personal loan, traditional home equity loan or HELOC. 

Why? Renovation loans are more complex than home equity loans. Renovation loans allow homeowners to borrow a lot more, based on a home’s “after renovation value.” This ability comes with a different qualification process than typical home equity loans, which are based on a home’s current value.

Pretty much all banks provide home equity loans and HELOCs, and advertise their details online before you apply. The same is not true for renovation loans.

Because renovation loans are unique, and not all home loan officers are equipped to provide them, you need to find a specialized loan officer that’s familiar with renovation loans like Fannie Mae Homestyles or FHA 203k Renovation Loans (two of the most well-known options.) You may not be able to find one at your local bank.

But that doesn’t mean that it’s impossible.

To find the lenders that offer renovation loans, you can:

  1. Google search “renovation loans” 
  2. Find 1-3 different lenders that offer renovation loans
  3. Reach out to a designated renovation loan officer near you that has experience with renovation loans 
  4. Discuss rates, terms, and options for you based on your project and financial situation
  5. Come to a decision about which lender is best for you

The other common way that folks find renovation loans is through their contractor, or design/build firm. This option is a bit more limited, because sometimes your contractor will work exclusively with one loan provider, so it’s more difficult to shop around to find the best loan for you.

Best Banks for Renovation Loans

Some of the most well-known banks that offer renovation loans are M&T Bank and Homebridge. 

These are national banks that offer loans in different states and have loan officers familiar with FHA 203ks and/or Fannie Mae Homestyle loans in these states. 

There are also local lenders in your area that may offer renovation loans, but they can be a lot harder to find through online research and may require a referral from someone else in the loan industry.

Because renovation loans are more rare, local banks may not have enough resources to devote to a robust renovation loan program.

Unlike with traditional home equity loans and HELOCs, banks large and small will generally not advertise renovation loan interest rates online. This is because they’re a unique product where depending on your financial situation, the rates can vary greatly.

One person may talk to a loan originator and find that their interest rate would be 5%, and another with the same project cost would get a quote for an interest rate of 7%. It all depends on your financial situation. 

Check out our article on how lenders determine rates to find out more

RenoFi Renovation Loan Lenders

RenoFi Loans are a unique type of renovation loan that are only offered through certain lending partners nationwide. 

RenoFi Loans don’t require you to refinance your first mortgage, unlike all other types of renovation loans.

Not only are RenoFi Loans often a better renovation loan option compared to Fannie Mae Homestyle loans or FHA 203k renovation loans, the process to find a lender is much easier. 

To find lenders that offer RenoFi Loans, you can:

  1. Go to
  2. Check out the RenoFi Loans page and the How it Works page to learn more
  3. Try the RenoFi Loan Calculator to see how much you could borrow
  4. Next, Find a Lender and schedule a call with a RenoFi Advisor to get pre-qualified and start uploading documents. 
  5. Your RenoFi Advisor will confirm which of our lending partners will work best for you, depending on location and your financial information. 
  6. Your RenoFi Advisor will guide you through the entire application process.

RenoFi works with a variety of lenders nationwide and is bringing on amazing new partners every day. 

To learn more about why RenoFi works exclusively with credit unions, check out this article.

RenoFi’s Streamlined Process to Find a Lender

Rather than scouring the internet and calling different loan officers at every bank, with RenoFi Loans, you’ll just talk to one advisor.

Instead of waiting to find out your potential rates, terms and borrowing power, you can use RenoFi’s online tools to get a good estimate of what you’ll have to pay before scheduling an initial call. 

Lastly, with RenoFi, you won’t need to hire a consultant in addition to a loan officer to walk you through the process. Your RenoFi Advisor is your free consultant and will guide throughout the entire process. 

Sound easy? That’s because it is. We created RenoFi Loans to be the smarter alternative to traditional renovation loan options - for homeowners like you. 

Check out our reviews page to see why homeowners choose RenoFi to finance their home renovations.

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