RenoFi

RenoFi is a financial technology company that provides a lending platform leveraged by credit unions nationwide to offer RenoFi Loans to consumers. Currently, RenoFi Loan products include HELOC and fixed home equity loans. RenoFi Loan products are intended for consumers looking for non-traditional loans to support their renovation, remodeling, and/or construction financing needs. The RenoFi team is made up of expert loan originators who are dedicated to providing expert information and personalized loan concierge services via RenoFi financial technology.

RenoFi was founded in January 2018 by Justin Goldman, Robert Shedd, and Lee Miller, all three of whom are alumni of Penn State University. The concept of RenoFi Loans came from Goldman after he sought financing for his renovation in 2017 and realized he didn’t have enough equity for a home equity loan. He designed RenoFi Loans to be value-added loans that are more well-suited to renovation projects. RenoFi currently offers two loan products: a “renovation home equity loan” and a “renovation HELOC.” The RenoFi Home Equity Loan is similar to a traditional home equity loan but uses the after-renovation value of the home to base the loan. The RenoFi Home Equity Loans offer fixed rates, and terms up to 20 years. Likewise, the RenoFi HELOC is a line of credit that is also similar to a traditional HELOC product but uses the after-renovation value of the home to base the loan and offers variable rates with a 10-year draw period, and a 20-year repayment period.

1. 1Renovation HELOC | Get a Bigger Loan for your Renovationrenofi.com
2. 2Our Story | RenoFirenofi.com
3. 3Should you convert your garage to an ADU? | RenoFirenofi.com
4. 4Before and After: a RenoFi-powered renovation in West Chester | RenoFirenofi.com
5. 5RenoFiwikidata.org