Innovative Construction Financing through our partners:
When you partner with Terrahome, you can now benefit from connecting with our trusted financing partners. Below is a helpful guide as you explore your options:
CONSTRUCTION goals
available home equity
timeline for the project
desired monthly payment range
financing that fits you best -
let's explore your options next
construction/Renovation Loans Built Around Your Vision
If you are undertaking a substantial construction or renovation project and want to finance based on what your home will be worth after the improvements, RenoFi could be your perfect fit.
WHAT RENOFI OFFERS
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A Construction/Renovation Second Mortgage—borrow up to $500,000
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An Unsecured Home Improvement Loan – $10K to $75K
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The following amounts are based on the after-renovation, as completed, value
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Better rates, longer terms, more savings, and all about YOU!
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No refinancing required! Keep your existing mortgage
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Borrow up to 90% of the after-renovation value!
Why choose Renofi
01
Great for larger-scale remodels, additions, or ADUs
02
Appraises your property as if it will be completed, not just as-is
03
10x easier than a construction loan - no draws or inspections!
04
Typically funds in 3–45 days depending on loan type
Fast, Digital Home Equity Line of Credit (HELOC)
For homeowners looking for speed and simplicity, Figure offers a seamless digital experience from application to funding.
WHAT FIGURE OFFERS
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Fully online HELOC application
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Pre-qualify in minutes
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Receive funds in as little as 5 days
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Loan amounts from $15,000 to $400,000+
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Fixed interest rates available
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Minimal documentation required
Why choose FIGURE
01
Ideal for homeowners with available equity who want quick access to funds
02
Transparent terms and straightforward approvals
03
No need for in-person meetings or lengthy bank processes
Comparing Use Cases:
Which Works Best for You?
Scenario | Renofi | Figure |
|---|---|---|
Repayment Terms | Up to 20 years (for personal loans) | Based on draw & term selected |
Tax Deductibility | For home improvement (consult tax pro) | For home improvement (consult tax pro) |
Payment Penalty | No prepayment penalty | No prepayment penalty |
Draw Options | Multiple draw & repayment periods | Lump sum disbursement |
Interest Rate Type | Fixed or variable | Fixed |
Loan Amount Range | $10K – $750K (depending on product) | $15K – $400K+ |
Home Value Basis | After-renovation value (up to 90%) ; Current value (up to 80%) | Uses current value only |
Product Type | HELOCs, HELOANs, Personal Renovation Loans | HELOC |
Purpose | Construction/Renovation-specific | General purpose (home improvement, debt consolidation, etc.) |
Application Experience | Online with support; requires construction/renovation documentation | 100% online, instant rate estimate |
Funding Speed | As fast as 3–7 days (unsecured); ~45 days for larger secured loans | As fast as 5 days |