RenoFi: 2026 Home Equity Review

How Bankrate scored RenoFi

Affordability: 5 stars

• APR: Variable depending on lender and loan product
• Fees: RenoFi’s fees vary depending on which credit union you work with. In general, you can expect to pay: closing costs (typically 1 percent to 3 percent of the loan amount), a fee for an appraisal that covers both the current home value and after-renovation value, and possibly a renovation charge (up to $150 per month) from the lender for the duration of the renovation.

RenoFi bases the amount that customers can borrow on the after-renovation value, thus increasing the amount a homeowner can borrow, and works with credit unions to find the lowest rates for customers, so it scores a 5 out of 5 stars for affordability. 

Availability: 4.7 stars

• Loan products: Variable-rate HELOCs and fixed-rate home equity loans — including loans based on after-renovation value as well as traditional loans — cash-out refis, FHA 203K loans and Fannie Mae Homestyle loans.
• Footprint: RenoFi is a licensed mortgage broker in most states and in Washington, D.C. Exceptions are Hawaii, New York and Massachusetts.
• Credit score: Some lenders may go as low as 620 — that’s low for home equity products, though minimums may be higher for larger loans.
• Loan minimum: $25,000, which is typical for home equity financing
• Draw requirement: Multiple options available; varies based on loan product and lender

Being offered to borrowers in most U.S. states and having a credit score minimum on the low side boosts RenoFi’s availability score to a 4.7 out of 5. 

Borrower experience: 4.7 stars

• Rate transparency: Rate information is only available after completing and submitting an application online — not very helpful.
• Convenience: As a brokerage, RenoFi is not the direct lender; customers who provide their information are matched with lender partners. This can make the application experience more streamlined (if not quite as direct) for consumers.
• Customer service: Though it is solely online, RenoFi offers a strong digital experience: Its website is highly sensitive to customer needs when it comes to accessibility settings; it also boasts a pleasant and visually friendly user interface. Prospective borrowers can interface with the company by phone, e-mail, chatbot, or mail.

Though upfront rate transparency is not RenoFi’s strong suit, their customer service has built a positive reputation online. And after prospective borrowers provide some information about themselves and their property, the company permits swift access to a variety of lender partners with more specific details about product availability. As a result, RenoFi scores 4.7 out of 5 for borrower experience. 

RenoFi reputation: What Bankrate users say

RenoFi received 3.7 out of 5 stars from customers on Bankrate, with most being 4 or 5 stars. One customer reported “great customer service,” though “not a lot of room to negotiate.” Other reviews noted “the experience was outstanding” and that their representative was “knowledgeable, patient and always quick to answer our questions.” One customer gave them one star, noting they filled in the form and no one got back to them.

RenoFi has an “excellent” 4.8 out of 5 score on TrustPilot. Homeowners described their experience with RenoFi as “excellent” and “great” — even though the process was long. They noted that customer service representatives were very responsive, helped them every step of the way, and did a good job explaining the process. 

RenoFi has an A- rating from the Better Business Bureau; it is not BBB accredited.