RenoFi for Loan Officers

Introducing the RenoFi Loan

The world’s first post-close renovation home equity loan, the perfect companion for purchases & refis.
Finally, renovation finance without the hassle!

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HELOC Product Matrix

Minimum FICO Minimum
Max DTI**Min Loan
Max Loan
*CLTV is calculated based on the ARV (After-Renovation Value) HELOC Terms: 10-Yr I/0 Draw Period, 20-Year Full Amortization Repayment **Maximum Debt Ratio: 43%
(47% for CLTV <80% and 720+ FICO)
Eligible States: All States Max CLTV of Current Value = 125%

RenoFi loans grow your business

Allowing you to close more deals “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!RayMortgage America
203k Alternative
“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“ MichaelGuaranteed Rate
Increase Buyer Inventory
“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.BenMortgageCS

Interested in finding out how this program will work for MLOs?

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schedule a call
How much more can your client borrow with RenoFi
Unfortunately, RenoFi lenders don’t offer loans for properties in Nevada right now.
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Adjust sliders to find your client’s max loan amount
Up to a maximum of $500,000
Estimated RenoFi max loan amount $500,000
Current home value $390,000
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Adjust to find your estimated max loan amount
Remaining mortgage balance $190,000
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Expected after renovation value $570,000
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Standard home equity loan
RenoFi home equity loan
Contact us today We are here to help. Reach out for questions and send your clients along!


Below you’ll find answers to the questions we get asked the most about our home improvement loan.
Maximum CLTV is typically 90% of the After Renovation Value of the home. ARV CLTV up to 90% can be considered by the lender on a case-by case basis.
RenoFi loans based on After-Renovation value are only for primary residences and second homes. RenoFi partners offer loans based on current value for investment properties.
There are no required inspections for RenoFi 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.