We’re not gonna lie: remodeling your home can be expensive. Last year we were lucky enough to complete several projects valued at over $250,000. Some of our clients pay for their projects from savings or with proceeds from other liquid assets. But many clients considering an extensive remodeling project need to find financing to help cover the expense.

Traditionally, that’s meant borrowing against the current equity in your home. For people who own their homes outright, or who owe significantly less than the current value of their homes, a home equity loan or a home equity line of credit (HELOC) can provide the cash necessary to finance a major renovation.

Current- vs. future-value equity

We’ve searched for years to find a financial partner that could offer our clients an innovative, flexible financing option, and we’ve finally found one: RenoFi.

RenoFi‘s Renovation Loan is tailored to the needs of many of our clients because it’s based on the value of your home after renovation. This means that people who are still building equity in their home can borrow against its future value. This effectively lets you get the most money and the lowest monthly payment for your renovation compared to other types of loans.

Keep your current mortgage

In all other ways, a RenoFi Renovation Loan works like traditional equity-based loans. A RenoFi loan can be structured as either a home equity loan or a HELOC. The best part is that you can keep your current mortgage: no mortgage refinancing is required, and there’s no need for a qualifying inspection. The big difference is that you can borrow up to 90% of the value of your home after the renovation work, or up to 120% of the current value of your home up to a limit of $500,000.

Why we like it

We like Renofi’s approach because it lets our clients immediately share the value of the work we do. It’s also more in tune with the real estate market in our area, which continues to appreciate. We’re proud to partner with RenoFi – they’ve helped thousands of homeowners across the U.S. renovate their homes. For more information about financing your next project, give us a shout!

One last thing: remember that financing a large remodeling project can be risky and you should only take on debt that you can comfortably afford to repay. Also, there’s no guarantee your home will increase in value, and in rare cases, you may owe more than your home is worth. It’s always a good idea to shop around and compare rates and terms from multiple lenders before making a decision.


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