PHILADELPHIA , April 4, 2022 –  RenoFi, the renovation enablement platform company, today announced $14 million in Series A funding. The round serves as a strong endorsement of RenoFi’s vision to empower lenders to offer best-in-class financing solutions that better meet the needs of today’s homeowners. Canaan led the round with new participation from NYCA Partners and CMFG Ventures. The company will use the funds to scale its business operations and product roadmap, including its first-of-its-kind renovation enablement platform for lenders.

Your roof is the unsung hero of your property, standing firm against the elements and keeping your property safe and secure.

Want to move from dreaming about your renovation idea to making it a reality? That’s when you should hire an architect, says Marc Brahaney, the owner of Lasley Brahaney Architecture.

Are you planning a renovation project but are worried about going over budget? Learn from builders and contractors about the rooms most likely to face spiraling costs and WHY, so you can make sure it won’t happen to you.

If you’re renovating your home, you’ve probably been impacted by the record high price of lumber. Over the last year, the cost of lumber has increased by 377%. 

Finding the right type of financing for your renovation project can be confusing. We get that.

But what can be equally as confusing is some of the terminology that you’ll undoubtedly come across when researching your options. 

So you’re thinking about a home remodeling project and you want to be prepared and informed.

You’re on the right track!

Taking on a home remodeling project is almost like a part-time job, even when you’re not the one doing the work.

From finding a contractor to getting permits to picking out finishes, you’ll be in charge of a lot of different decisions that you might be unfamiliar with.

Not to worry! RenoFi has lots of info on everything you need to know about the renovation process on our blog.

If you thought 2021 was a big year for home renovations, be prepared for 2022 to be even bigger. 

Home renovation spending is predicted to increase by 9% in the first quarter of this year, and then continue to increase by 8.8% in the second quarter. 

Some states will be renovating even more than that rate this year: Oklahoma, California, New Mexico, Nevada, and Texas. 

What does this year of renovation mean for you?

Taking out a loan to fund your renovation is one of the biggest financial decisions you’ll make in your lifetime, and it’s important you go to a lender you can trust. 

Unfortunately, there are some predatory lenders and loan scams out there that you should be aware of and avoid at all costs. 

If you use a renovation loan service like RenoFi that works with an elite group of credit unions that you can choose from, lenders are pre-vetted and you don’t need to worry about any red flags.