How am I going to pay for this?
In today’s evolving and competitive real estate market, building up has become a more practical option for homeowners. The number one questions is "How am I going to pay for this?"
RenoFi, a Philadelphia based company, in conjunction with 3rd Story Philly and its clients, provides the perfect way to finance a home addition & renovation by stretching your borrowing power even further, empowering you to create a space you love and that works for you.
Here’s how it all works...
RenoFi Loans factor in what your home will be worth after the work has been completed using
the After Renovation Value (or ARV); allowing you to borrow more on average, up to 11x more,
than a typical home equity loan. With RenoFi, you work directly with an Advisor to get
pre-qualified and guide you through the entire application process. RenoFi Loans act as a
second mortgage, meaning they do not require refinancing and have 20-30 year terms and low
rates from credit unions which means it's the lowest monthly rate possible!
What does that mean for you?
Well, as you plan your addition with 3rd Story Philly, you will have the security of knowing you
will not have to short change your renovation or get started only to realize you may not be able
to fund everything you planned on doing.