RenoFi Home Improvement Loans

Choose between a fixed or variable rate loan, without the need to refinance your existing mortgage.

RenoFi is not a lender, rather we’ve partnered with lenders that leverage RenoFi’s technology to seamlessly provide RenoFi Loans. Loans are arranged through these partner third-party lenders. RenoFi operates as Renovation Technologies Holdings Inc. in California (NMLS # 2412747) and as Renovation Technologies LLC in Nebraska. Visit Renovation Finance LLC's NMLS consumer access page or Renovation Technologies Holdings Inc.'s NMLS consumer access page.

* RenoFi Loans for home improvement do not require draws and inspections and the proceeds are made fully available to the borrower. Therefore, it is the consumers' responsibility to ensure that all vendors are paid.

Fixed Rate

Peace of mind of a fixed rate without the need to refinance your first mortgage.

Loan amounts of

$25,000 to $500,000

Terms

up to 20 years

Fixed rate

Rate

Up to 90% of the
AFTER renovation value

Borrowing power

Full loan amount distributed at closing

Disbursement

No need to refinance your existing mortgage

SEE TODAY'S RATES

HELOC

Flexibility of drawing what you need when you need it without the need to refinance your first mortgage.

Loan amounts of

$25,000 to $500,000

up to 10 year draw phase, followed by up to 20 year amortization

Terms

Rate

Variable & Fixed rates available

Up to 90% of the
AFTER renovation value

Borrowing power

Disbursement

Line of credit, full amount available to draw at closing

No need to refinance your existing mortgage

SEE TODAY'S RATES

RENOFI HOME IMPROVEMENT LOAN

Get the money you need for your home improvement

Borrow up to 90% of your future home value with a RenoFi Loan and keep your existing mortgage

The Home Improvement Loan of the future

A RenoFi Home Improvement Loan allows you to maximize your borrowing power by using your after renovation home value

RenoFi has helped thousands of homeowners across the United States

As seen on

Longest Terms,
Lowest Rates

Terms up to 20 years. Rates are based on the After Renovation Value.

Borrow
More

RenoFi matches homeowners to the best financing product for their project.

Cash
Up Front

Once approved, homeowners receive 100% of cash up front. No draws, no inspections.

No Refinancing
Required

Have a great rate locked in your first mortgage?
No problem!

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How is a RenoFi Loan different from a normal home equity loan or HELOC?

A traditional home equity loan or home equity line of credit (HELOC) allows you to borrow against the current value of your home, whereas RenoFi Loans allow you to borrow against the after renovation value, or future value of your home. For homeowners who have been in their homes for 10+ years, borrowing against current home equity is fine because they’ve built up a lot of equity over the years and don’t have as large of an outstanding mortgage balance. But for recent homebuyers, a true renovation loan often offers higher borrowing power. It is important to note that if you take a RenoFi Loan there is no guarantee your home will increase in value and, in rare cases, you may owe more than your home is worth.

How is this different from a construction loan?

RenoFi Loans do not require draw schedules, inspections or refinancing, like typical construction loans do. Many contractors prefer not to work with construction loans because of these in-depth requirements. Read this article to learn more about the differences between RenoFi Loans and construction loans.

Are there inspections & draws like a typical construction loan, FHA 203K, or Fannie Mae Homestyle loan?

No, we’ve designed RenoFi Loans in a way that makes life much easier for homeowners & their general contractors. The entire loan amount is made available by the lender upfront, giving them more flexibility during the renovation process After the renovation is completed, the appraiser visits the home to issue a certificate of completion. Read more about the differences between RenoFi Loans vs other loan types.

I am in the middle of a refinance - can I take out a RenoFi Loan?

Yes, but you should complete your refinance before you officially start the RenoFi application process with our lender. We also encourage you to get started by looking at our application checklist.

Frequently Asked Questions

SEE HOW MUCH YOU CAN BORROW

The Home Improvement Loan of the future

Thanks to RenoFi, the Jenkins can now borrow 11X MORE with a RenoFi Home Equity Loan without having to refinance their existing mortgage.

Get access to 11x more borrowing power, on average.

Borrow from smaller lenders with lower interest rates.

Save hours of phone calls filtering lenders - for free.

HOW MUCH CAN I BORROW