Renovation HELOC | Get a Bigger Loan for your Renovation

Renovation financing made easy

✔️ Get lower rates based on your home's future value
✔️ Borrow more using the first-ever Renovation HELOC
✔️ Keep existing mortgage without refinancing
✔️ Fixed & variable rate options

Loan amount needed
$5,000
calculate monthly payments

The smarter way to finance your renovation

Renovation-specific loans

We partner with lenders to offer a suite of loan products tailored for renovations. Get expert guidance on the best option for you.

Borrow 11x more on average

Our Renovation HELOC lets you access up to $750K*, or up to 90% of your property's after-renovation value - far more than a traditional HELOC.

Streamlined process

Save time and hassle with our streamlined process and get support from start to finish from your Loan Officer.

Unlock more borrowing power

Use the after-renovation value of your home to borrow 11x more on average than anywhere else.

Adjust sliders to find your estimated max loan amount

Up to a maximum of $750,000

Estimated RenoFi max loan amount $500,000
Current home value $750,000
-+
Remaining mortgage balance $310,000
-+
Expected after renovation value $920,000
-+
290K
Standard home equity loan

500K
RenoFi home equity loan

See How Much More You Could Borrow

Use the after-renovation value of your home to borrow 11x more on average than anywhere else.

Estimated RenoFi max loan amount
$300,000
Current home value
$800,000

Standard home equity loan
Based on expected after-renovation value

$300K
RenoFi home equity loan

RenoFi has helped thousands of homeowners

Evan Eagleson

Worked with Jacob from Renofi on a HELOC for a home addition project and the process couldn't have been easier. I was able to text him when needed and he was always responsive and helpful every step of the way. I'd highly recommend Jacob and Renofi.

Tim Gallagher

Most positive loan experience that I've ever had. Great personal guidance during the process, excellent follow-thru, and a home renovation loan product perfectly suited to our needs. Special props to Lee B, for his guidance and service. 10/10

Julie Erickson

I worked with Khadija at Renofi and with her help found a loan option that made my project feasible. She was always available for questions and even as variables changed during the process, she made adjustments to make sure we were finding the best available option for what we needed. Highly recommend.

Schwartz Family

Ryan V. and his team at RenoFi were fantastic to work with. Ryan guided us through the entire process from initial contact through closing. He was communicative, responsive, and made what could otherwise be a dreadful process painless. We got great terms and never felt pressured. We would absolutely recommend RenoFi!

James

RenoFi worked with us to find the right lender for our 800SF addition & home renovation project. The team was able to navigate our needs based on a couple phone calls and a couple emails. The loan fit our needs within our time frame and was processed quickly. I recommend this company to anyone that owns a home

Kara Goldsmith

Abby and Jessica were amazing to work with! This was by far the smoothest loan process we’ve ever experienced! From our first call to funding, it took 2 days! I highly recommend RenoFi to anyone looking to fund their next home project!

Emanuel Ramirez

I worked on getting a loan with Renofi with Devon and Kylie. They were phenomenal and answered all of my questions and gave me the best and fastest response one could get from loan officers.

Scott Winstead

Application was easy to follow and upload the required documents. Jacob was outstanding in his communication and feedback as the process progressed. He displayed professionalism and confidence that made me feel extremely comfortable with this decision. Loan went through without a hitch with no surprises. Much gratitude to Jacob for a job well done.

Shannon S.

We are very pleased with Renofi. Derron Pocci was a breeze to work with and made the process seamless and clear. Highly recommend.

Justin & Nicki

Justin & Nicki's renovation added 850 sq. ft. to their home in the shape of a new great room with entry from backyard, new master suite with walk-in closets and all new exterior siding & roof.

Home Value

Post-Renovation
$807,000
Pre-Renovation
$405,000

Borrowing Power

RenoFi Fixed Rate Home Equity Loan
$200,000

Standard Home Equity Loan
$110,000

Danielle

A RenoFi Loan helped this family achieve their dream renovation, which included a new walk-in closet, a walk-in shower and two sinks in the bathroom, and an upgraded kitchen.

Home Value

Post-Renovation
$505,000
Pre-Renovation
$385,000

Borrowing Power

RenoFi Fixed Rate Home Equity Loan
$230,000
Standard home equity loan
$110,000

Joanne & David

When their family of three became four, Joanne & David knew they needed to upgrade their space. Thanks to a RenoFi Loan, they were able to turn their current home into their dream home by opening up the first floor and completely redoing their kitchen.

Home Value

Post-Renovation
$550,000
Pre-Renovation
$385,000

Borrowing Power

RenoFi Fixed Rate Home Equity Loan
$185,000
Standard home equity loan
$58,000

RenoFi offers loans for every scenario

Competitive HELOCs & HELOANs

Loan amounts of $10k to $750k
Borrow up to 90% of home’s current value
Variable or fixed rate
Multiple draw & repayment periods available
Line of credit or fixed-term

RenoFi Loans based on After-Renovation Value

Loan amounts of $25k to $750k
Borrow up to 90% of home’s after-renovation value
Variable or fixed rate
Multiple draw & repayment periods available
Line of credit or fixed-term

Renovation Personal Loans

Loan amounts up to $75k
Borrow based on your credit & income
Fixed rate
Up to 20 year repayment term
Fixed-term

Frequently asked questions

What is a RenoFi loan?
A “RenoFi Loan” refers to loans made by third party lenders powered by RenoFi’s proprietary Renovation Underwriting technology. RenoFi Loans use the home’s After Renovation Value (“ARV”) to increase homeowners’ borrowing power. RenoFi is not a lender but instead, works with various lenders to incorporate its renovation underwriting technology into lenders’ existing loan-underwriting process. RenoFi works with homeowners to find lenders offering both RenoFi Loans and other traditional loan products, including mortgage loans and personal loans.

How is a RenoFi Loan different from a normal cash-out refi, home equity loan, or HELOC?
A cash-out refinance loan, 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.

Why RenoFi and not go straight to the lender?
You can only obtain a RenoFi Loan through RenoFi. We partner with specific credit unions to offer the RenoFi Loan, but your RenoFi Advisor will do everything to prepare you to apply before connecting you to the credit union. You can look at us as a concierge, who will walk you through the journey of considering and then preparing for a renovation.

Can I use a RenoFi Loan if I just purchased a home?
Yes, most lenders offering RenoFi Loans allow you to apply once you’ve closed on the home, meaning they don’t have any “seasoning” requirements. The RenoFi Home Equity Loan is specifically designed for homeowners who’ve recently purchased or are about to purchase a home, and are therefore “equity light,” and aren’t able to borrow enough money to fund a renovation with a traditional home equity loan.

How much can I borrow?
Lenders base this on several different metrics including your current home value, your home’s estimated “after renovation value,” your outstanding mortgage, and your overall financial health. Most lenders allow RenoFi Loans to cover up to $750k in renovation costs, though please note that loans over $250k will have stricter qualification criteria. Additionally, most lenders allow homeowners to borrow up to 125% of the current home value and up to 90% of the after renovation value.

How is the after renovation value of my home determined?
After renovation value is the estimated value of your home after your renovation is complete. You can estimate your after renovation value by using the current value of your home, plus the added value of your planned renovations.

Do I have to refinance?
No! There are several different versions of RenoFi Loans, including home equity options that do not require you to refinance. With so many homeowners having locked in ultra low rates, this is especially helpful.

What are the rates?
Rates are set by the lenders and can vary slightly lender to lender. RenoFi Renovation Home Equity Loan rates vary depending on several different factors but the two most critical are your credit score and the loan to value ratio (LTV) based on your after renovation value.

What are the fees/closing costs on RenoFi Home Equity Loans?
Lenders offering RenoFi Loans may charge closing costs and fees as they would for any home equity loan. Closing costs vary by lender and typically include an origination fee, title and escrow fees, tax certifications, recording fees, other underwriting costs paid by the consumer to the lender, and may include title insurance for higher loan amounts.

What are the term options?
The RenoFi fixed-rate home equity loan being offered by some of our lending partners has term options of 10, 15 and 20 years. The RenoFi variable-rate home equity line of credit structure varies by lender.