Let's figure out your renovation budget
Renovation Bridge doesn't provide financing — but we've done the homework for you. Here's every major loan option explained, a calculator to run your numbers, and a direct connection to RenoFi, our trusted lending partner.
We connect you with our trusted lending partner
RenoFi
11x
more borrowing power avg
$1.5B+
in funded renovation loans
$500B
U.S. home improvement market
Borrow more
Based on your home's future value, not just current equity
Longest terms, lowest rates
Rates based on after-renovation value — not today's equity
No refinancing required
Keep your existing mortgage rate — add a second loan only
10x easier than a construction loan
No draws, no inspections, no contractor involvement with funds
Financing Options Compared
Swipe to compare →
RenoFi Renovation HELOC
Recommended PartnerBorrow based on your home's after-renovation value — not what it's worth today. Ideal for recent buyers or homeowners with limited equity.
Best For
Equity-light homeowners or recent buyers who need more borrowing power than a traditional HELOC allows
Typical Rate
Varies by credit union lender — check with RenoFi advisor
Loan Amount
Up to 90% of after-renovation value, max ~$750,000
Repayment
10, 15, or 20 year terms depending on lender
Pros
✓ 11x more borrowing power on average vs traditional HELOC
✓ No refinance required — keep your existing mortgage rate
✓ Borrow up to 90% of your home's after-renovation value
✓ Works for recent buyers with limited current equity
✓ Renovation-specific — advisors know contractor projects
✓ 10x easier than a construction loan — no draws or inspections
Cons
✗ Requires renovation plans to apply
✗ Longer approval process than a personal loan
✗ Must use funds specifically for home renovation
Home Equity Line of Credit (HELOC)
Most PopularBorrow against your home equity as needed, up to an approved limit.
Best For
Ongoing or phased renovations where costs are spread over time
Typical Rate
Variable, often Prime + 0–2%
Loan Amount
Up to 85% of home value minus your mortgage balance
Repayment
10-year draw period, then 10–20 year repayment
Pros
✓ Only pay interest on what you draw
✓ Reusable credit line
✓ Interest may be tax-deductible
Cons
✗ Variable rate means payments can rise
✗ Requires sufficient home equity
✗ Risk of losing home if you default
Home Equity Loan
Fixed & PredictableA lump-sum loan using your home as collateral, repaid at a fixed rate.
Best For
Single large projects with a defined budget
Typical Rate
Fixed, typically 6–9%
Loan Amount
Up to 85% of home equity
Repayment
5–30 year terms
Pros
✓ Predictable monthly payments
✓ Lower rates than personal loans
✓ Large amounts available
Cons
✗ Home is used as collateral
✗ Closing costs apply
✗ Full amount disbursed upfront
Cash-Out Refinance
Lowest RatesReplace your existing mortgage with a larger one and take the difference in cash.
Best For
Homeowners who can secure a lower rate than their current mortgage
Typical Rate
Mortgage rates (currently ~6–7%)
Loan Amount
Up to 80% of home value
Repayment
15 or 30-year mortgage terms
Pros
✓ Lowest interest rates available
✓ Single monthly payment
✓ Large amounts possible
Cons
✗ Resets your mortgage term
✗ Closing costs of 2–5%
✗ Must qualify for new mortgage
Personal / Unsecured Loan
No Equity NeededA fixed loan not tied to your home — ideal when you need funds fast.
Best For
Smaller projects or homeowners without sufficient equity
Typical Rate
7–20% depending on credit score
Loan Amount
$5,000–$100,000
Repayment
2–7 year terms
Pros
✓ No home equity required
✓ Fast approval (sometimes same day)
✓ No risk to your home
Cons
✗ Higher interest rates
✗ Smaller loan limits
✗ Shorter repayment periods
FHA 203(k) Renovation Loan
Low Down PaymentA government-backed loan that combines your mortgage and renovation costs into one.
Best For
Buyers purchasing a fixer-upper or homeowners with lower credit scores
Typical Rate
FHA mortgage rates (~6–7%)
Loan Amount
Up to FHA loan limits for your county
Down Payment
As low as 3.5%
Pros
✓ Low down payment
✓ Accessible to lower credit scores (580+)
✓ Covers purchase + renovation
Cons
✗ Requires FHA-approved lender
✗ Complex approval process
✗ Mortgage insurance required
Contractor / Point-of-Sale Financing
ConvenientFinancing offered directly through your contractor or their lending partners.
Best For
Homeowners who want a simple, one-stop solution
Typical Rate
Varies widely — sometimes 0% promo, sometimes 15%+
Loan Amount
Tied to project cost
Repayment
Varies by program
Pros
✓ Easy to apply at point of sale
✓ Sometimes promotional 0% APR offers
✓ No separate bank required
Cons
✗ Rates can be high after promo period
✗ Limited to that contractor
✗ Always compare to other options first
RenoFi Renovation HELOC
Recommended PartnerBorrow based on your home's after-renovation value — not what it's worth today. Ideal for recent buyers or homeowners with limited equity.
Best For
Equity-light homeowners or recent buyers who need more borrowing power than a traditional HELOC allows
Typical Rate
Varies by credit union lender — check with RenoFi advisor
Loan Amount
Up to 90% of after-renovation value, max ~$750,000
Repayment
10, 15, or 20 year terms depending on lender
Pros
✓ 11x more borrowing power on average vs traditional HELOC
✓ No refinance required — keep your existing mortgage rate
✓ Borrow up to 90% of your home's after-renovation value
✓ Works for recent buyers with limited current equity
✓ Renovation-specific — advisors know contractor projects
✓ 10x easier than a construction loan — no draws or inspections
Cons
✗ Requires renovation plans to apply
✗ Longer approval process than a personal loan
✗ Must use funds specifically for home renovation
Home Equity Line of Credit (HELOC)
Most PopularBorrow against your home equity as needed, up to an approved limit.
Best For
Ongoing or phased renovations where costs are spread over time
Typical Rate
Variable, often Prime + 0–2%
Home Equity Loan
Fixed & PredictableA lump-sum loan using your home as collateral, repaid at a fixed rate.
Best For
Single large projects with a defined budget
Typical Rate
Fixed, typically 6–9%
Cash-Out Refinance
Lowest RatesReplace your existing mortgage with a larger one and take the difference in cash.
Best For
Homeowners who can secure a lower rate than their current mortgage
Typical Rate
Mortgage rates (currently ~6–7%)
Personal / Unsecured Loan
No Equity NeededA fixed loan not tied to your home — ideal when you need funds fast.
Best For
Smaller projects or homeowners without sufficient equity
Typical Rate
7–20% depending on credit score
FHA 203(k) Renovation Loan
Low Down PaymentA government-backed loan that combines your mortgage and renovation costs into one.
Best For
Buyers purchasing a fixer-upper or homeowners with lower credit scores
Typical Rate
FHA mortgage rates (~6–7%)
Contractor / Point-of-Sale Financing
ConvenientFinancing offered directly through your contractor or their lending partners.
Best For
Homeowners who want a simple, one-stop solution
Typical Rate
Varies widely — sometimes 0% promo, sometimes 15%+
Not sure which loan is right for you?
Answer 3 quick questions and we'll point you in the right direction.
Question 1 of 3
How long have you owned your home?
Estimate Your Monthly Payment
Adjust the sliders to get a ballpark — then book a call to get your actual rate.
Selecting a loan type pre-fills typical rates — you can adjust manually
RenoFi rates are set by their credit union partners and depend on your home's after-renovation value. The rate shown is an estimate only — .
Estimated monthly payment
$695/mo
Total amount paid
$125,147
Total interest paid
$50,147
This is an estimate only. Actual rates depend on your credit score, home equity, and lender.
Want to see what you actually qualify for?
Checking your rate does not impact your credit score
Common Questions
The best option depends on how much equity you have in your home, your credit score, the size of your project, and how quickly you need funds. As a general rule: if you have strong equity and can qualify, a HELOC or home equity loan offers the best rates. If you need speed or lack equity, a personal loan works well for smaller projects.
While we are not a lender, our team can connect you with trusted lending partners and help you understand your options as part of our project planning process. Just mention financing when you speak with your matchmaker.
It can. Personal loans can be approved within days, while home equity loans or refinances may take 3–6 weeks. Plan accordingly so your funds are ready before contractor work begins.
Interest on home equity loans, HELOCs, and mortgage products used specifically to improve your home may be tax-deductible. Consult a tax professional for guidance specific to your situation.
Book a free call with our lending partner
Renovation Bridge connects homeowners with contractors — not financing. But we know getting funding sorted first makes everything smoother. RenoFi advisors will walk you through your options, run your real numbers, and connect you to the right credit union lender. Free, no obligation, no credit impact.
Free • No credit impact • No obligation
Ready to see your real numbers?
RenoFi advisors will review your project, run your actual borrowing power, and connect you to the right credit union lender — usually in one 20-minute call.
Book a free call with RenoFiOpens RenoFi's scheduling page in a new tab
Renovation Bridge is a contractor matching service, not a lender or mortgage broker. We do not offer, arrange, or provide financing of any kind. Financing information on this page is for educational purposes only and does not constitute financial advice. All financing is arranged independently through RenoFi's network of partner credit unions. Loan availability, rates, and terms vary by lender, credit score, and property. Checking your rate with RenoFi does not constitute a loan application and does not impact your credit score. RenoFi NMLS #1802847. CA: Renovation Technologies Holdings Inc., CA DRE #02195141. Not available in NY.