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RenoFi targets homeowners who don’t qualify for HELOCs

Renovation financing startup RenoFi now offers a fixed-rate home renovation loan, which allows homeowners to borrow as much as 90% of their home’s after-renovation value — a move to target homeowners who don’t qualify for a home equity line of credit (HELOCs).

With a fixed rate for as many as 20 years, RenoFi’s fixed-rate home equity loan provides 100% of the funds, as much as $500,000, directly to the homeowner at the time of closing, according to a news release from the startup.

The new product is an addition to RenoFi’s variable rate HELOCs, which allow homeowners to borrow details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com