The demand for home renovations has never been stronger, yet, it's surprisingly difficult for a new homeowner to renovate. It can take a decade to build up enough home equity and savings to pay for a major renovation. As a result, recent homeowners do a lot of financially-suboptimal things to compensate.
To meet this need, RenoFi created the first home equity loan purpose-built for renovations!
For homeowners planning a renovation, RenoFi loans let you borrow the most money at the best possible terms without the need to refinance your primary mortgage. This is because RenoFi uses the expected value of your home post-renovation rather than your home’s current value, increasing your borrowing power.
For lenders, RenoFi is the only scalable, turn-key channel of renovation loans and provide a cost-effective means of growing your home equity portfolio.
RenoFi is creating a full suite of renovation loan products to better suit the needs of today’s homeowners and we are backed by some of the best startup investors in the world!
RenoFi is a fully distributed company with team members in the US and Europe.