PHILADELPHIA (February 15, 2022) – RenoFi, a leading financial technology company making renovations possible through purpose-built renovation loans, today released its Philadelphia Row House to Row Home Guide. The guide provides an in-depth examination of the unique architecture across the Greater Philadelphia region and provides a comprehensive framework for homeowners looking to renovate their historic homes.
“Philadelphia is a city with a rich history reflected in the unique row homes that make up our beloved neighborhoods,” said Justin Goldman, RenoFi’s Chief Executive Officer and Co-Founder. “Our Row House to Row Home Guide serves to arm homeowners with the knowledge and resources to modernize their home while maintaining its historic charm.”
Some of the most unique, historic and beautiful row houses in the country are located in Philadelphia, but they’re also some of the oldest. While the median age of a regular home in the U.S. is 37, the median age of a row house in Philadelphia is 93, meaning many homes across the Philadelphia region need major renovations in order to meet modern energy-efficiency standards, upgrade the usage of their living space, and maximize their home’s possibilities. The RenoFi Ultimate Row House to Row Home Guide breaks down the different styles of row houses, interior and exterior renovation considerations as well as local guidelines to abide by.
Most importantly the guide identifies the type of renovations that require professional work. While employing contractors or a design/build firm can be a costly route, RenoFi aims to assist homeowners with the funding to complete professional renovations that will add real value and optimize the personal comfort of their homes. RenoFi serves as a home renovation financing chaperone, helping homeowners in each step of the renovation financing process. RenoFi’s job as a chaperone includes educating homeowners about all of the potential renovation financing options, and which options could work best for them. By working with a RenoFi Advisor, homeowners can learn about the different financing options available, get pre-qualified for a RenoFi Loan, obtain a home appraisal, secure loan application documents or get matched with a lender.
RenoFi makes renovations possible through purpose-built renovation loans, powered by our unique renovation underwriting platform. RenoFi Loans leverage a home’s “after renovation value,” allowing homeowners to borrow 11x more, on average, than a traditional home equity loan. RenoFi provides the only renovation underwriting platform enabling credit unions to offer a turn-key renovation lending program to new and existing members. RenoFi was founded in 2018 and is backed by the leading technology investors, including First Round Capital, Canaan Partners and Comcast Ventures. For more information, visit www.renofi.com.
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