RenoFi for MLOs

Introducing the
Reno Boost Loan

The world’s first post-close renovation home equity loan, the perfect companion for purchases & refis.

Finally, renovation finance without the hassle!

as low as

We help your business grow by

Allowing you to close more loans

RenoFi has been a great tool for me to close more primary mortgages. Previously when clients bought a property in need of renovation I referred them out to colleagues as I don't have 1st position renovation products. Now with RenoFi's product, I am able to offer these clients a conventional primary mortgage and refer them to RenoFi for renovation financing. It is a win for my clients and a win for me!


Mortgage America

Competing with 203ks

First mortgage renovation products such as the 203k are time consuming, costly, and challenging to close due to the extensive underwriting requirements. RenoFi, alternatively, has provided my clients with a very cost effective and more simplistic approach to finance their renovation costs. For properties that can close without the need for a 203k, I highly recommend to my clients and their realtors to consider RenoFi


Guaranteed Rate

Winning more referrals from realtor partners

The RenoFi product offering has absolutely helped me grow my business this year. Our Financial Advisors and real estate agents depend on us to offer the best possible solutions - and RenoFi fits the bill without question. It's a huge win.



And best of all, it's simple!

<30 days

Clear process to close loans in under 30 days

No draw schedule,
no inspections

20 years

20 year term to easily qualify applicants

More powerful than a typical HELOC or cashout-refi

Calculate how much your client can borrow

Total cost of renovation
Current mortgage balance
Current home value
Renovated home value Your best estimate will do

Available exclusively in PA today (NJ soon to follow)

Coming to additional states in 2020. Add your state to the priority waitlist.
RenoFi values your privacy. We’d like you to know that we do not share your details with anyone else. Read our privacy policy.


Below you’ll find answers to the questions we get asked the most about our home improvement loan.
We would appreciate it if you shared with us the full credit package including all documents that you used to establish credit worthiness on the first mortgage. This includes all documents for income, assets, credit, ideally a 1008/UW Summary, appraisal, etc. Note that we do not need their credit report.
Maximum CLTV is 90% of the after renovation value of the home.
While we prefer when a homeowner works with 1 general contractor, we can underwrite up to 3 contractors on a project.
A reno boost loan can be used for a down payment to the contractor once the homeowner has closed the loan with the lending institution. RenoFi will review the down payment amount in the contract between the homeowner and the contractor to ensure that it is within reason.
If the homeowner must replace their contractor, they must find a replacement who will do the work. Ideally the cost remains the same; if it does not RenoFi will conduct another feasibility review of the new contract. RenoFi will also perform due diligence on the new contractor as quickly as possible so as to not hold up the project.
We look at the contractor’s license, registration, online reviews, and information in Better Business Bureau. We also run a background check and contact references of past clients, suppliers and subcontractors.
Contractor estimates should be broken down by time and materials.
No - we finance primary residence only. No investment properties, vacation homes or even 1 building that has multiple units inside (even if the owner lives in 1 unit)
There are no required inspection for reno boost loans
The appraisal will either be a form 1004 full review or a form 2055. It depends on the renovation size and complexity.
We select the lower of the sales price and the appraised value of the home.
Up to 20 year terms.
We can work with the client before closing to gather as many documents as possible so that as soon as they close we have all documents needed to send the application along to the credit union.
It is possible for a loan to close in 30 days.
Currently we do not offer MLOs monetary compensation. We are continuing to look into this for future options.
Currently we are licensed in Pennsylvania. We have a solution in New Jersey as well and will soon be licenced in New Jersey and also Delaware.
  • Berks
  • Bucks
  • Carbon
  • Chester
  • Dauphin
  • Delaware
  • Lancaster
  • Lebanon
  • Lehigh
  • Montgomery
  • Northampton
  • Philadelphia
  • Schuylkill
  • York

Contact us today

We are here to help, reach out for questions and send your clients along!