The most money and lowest monthly payment for your renovation

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


Let’s be real. No one can actually predict what interest rates will look like in a few years — or even a few months. But what we do know is that mortgage rates have recently hit the lowest number ever recorded. As a result, it seems like everyone and their mother has refinanced in the past year.

But there is a group of these perfect candidates who could really benefit from refinancing now that are at risk of missing the boat: those of you planning a renovation project.

The Risk of Letting your Renovation Plans Delay your Refinancing Plans

Like many homeowners, you may be in the position to refinance into a lower rate and save a lot of money over the life of your mortgage, but you aren’t because you’re waiting for your renovation plans to be finalized. Because you have to wait to refinance if you want to use some of that money to pay for it down the road, right? NO!! You can do both — without changing your renovation timeline.

Most renovation projects take way longer to plan than most people realize. And when interest rates are this low, waiting to refinance means playing a risky game with when they’ll go back up again.

Here’s what you need to know about today’s low mortgage rates, and what smart homeowners are doing now.

How Low are Mortgage Rates?

The average rate for a fixed-rate mortgage recently dropped to its lowest mark in 50 years of record-keeping when they plunged below 3% for a 30-year fixed-rate mortgage and even lower for a 15-year fixed-rate. Rates will vary depending on the terms, but just know - they’re definitely low.

What Do Low Refinance Rates Mean for Your Home Renovation?

Until recently, having to refinance your mortgage to take cash out for your home improvements meant giving up a low interest rate for many homeowners. Now, with current rates the lowest they’ve ever been, refinancing could save you thousands over the life of your mortgage. But if you’re not quite ready to kick off that renovation project, you’ll probably keep waiting to refinance, hoping rates stay low. Eventually, you’ll do a cash-out refi when you’re ready. Was this your plan?

Well, we’re here to tell you: there is no need to wait! You CAN refinance now and lock in that awesome lower rate with a new mortgage, and when you’re ready to renovate, you can add RenoFi’s renovation home equity loan on top without another refi, helping you maximize your loan amount AND your cost savings.

Before holding off for that cash-out refi, contact RenoFi to see how our renovation home equity loans can help you finance your renovation down the road without having to refinance your mortgage again.

How a RenoFi Loan Works with Refinancing Now

There are two main factors of a RenoFi loan that makes it so awesome — and especially awesome with today’s current refinance rates!

  1. Renovation home equity loans are based on what the value of your home will be AFTER the renovation. This key factor dramatically increases how much you can borrow for your renovation.
  2. You DON’T have to refinance your current mortgage. So if you want to refinance now and start your renovation in a few months or a couple of years, you won’t have to go through it all again! No additional closing costs, no losing those low rates.

What else? There are a lot of other great features you’ll also love about our renovation loans…

  1. The Low Rates. Compared to personal loans or credit cards, renovation home equity loans are the lowest cost solution to financing your renovation. The lower mortgage rates are, the lower our rates are. Everyone loves low monthly payments.
  2. The Low Fees. Compared to first mortgages, our renovation home equity loans have incredibly low fees — just like traditional home equity loans. But thanks to our partnerships with credit unions, our renovation home equity loans have the lowest fees in the industry!
  3. Choose Your Term. You can choose a term of 5, 10, 15, or 20 years for your mortgage loan.
  4. Use it for ANY Project Size. Unlike a construction loan which only really works for major home improvement projects, a renovation loan can be used for something as simple as finishing your basement ($25k-$50k) all the way up to an entire, multi-level remodel ($250k-$500k+).

So go ahead and refinance into that fantastically low mortgage rate and lower your monthly payments now, so you don’t have to worry about getting stuck with higher interest rates when it’s time to start your renovation. For more information on RenoFi loans and how we can help finance your renovation in the smartest way possible whenever you’re ready, contact us today!

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