Smart Renovation Financing Starts Here: Explore Options with
Why Terra Home Offers Financing Options
Affordability Makes All the Difference
You shouldn't have to delay or downsize your renovation plans just because of how upfront costs stack up. We offer financing solutions to help you bridge the gap between your vision and your budget.
Whether you're hoping to transform your kitchen, finish a basement, or add an entirely new space — financing makes it possible now, instead of "someday."
Helping You Build Without Limits
Through our trusted partners, RenoFi and Figure, and more to come, you can take advantage of the following features:
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Finance your partial or entire ADU project
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Choose from a variety of terms, i.e., the length of the loan
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Keep your current mortgage in place, or do not have to pay it off
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Access the funds quickly - in as little as 5 days
financing that fits you best -
let's explore your options next
When you partner with Terra Home, you can now benefit from connecting with our trusted financing partners. Below is a helpful guide as you explore your options:
construction/Renovation Loans Built Around Your Vision
If you’re taking on a substantial construction or renovation 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 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
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Great for larger-scale remodels, additions, or ADUs
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10x easier than a construction loan - no draws or inspections!
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Appraises your property as if it will be completed, not just as-is
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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
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Ideal for homeowners with available equity who want quick access to funds
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Transparent terms and straightforward approvals
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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 | Not mentioned (assumed 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 | Renovation-specific | General purpose (home improvement, debt consolidation, etc.) |
Application Experience | Online with support; requires 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 |
💡 Note: No matter your path, we’ll help you decide with confidence.
Scenario | Renofi | Figure |
|---|---|---|
(Unsecured) Whether the loan will go against your property or not | ✅ | ❌ |
Prefer fixed monthly payments | ✅ | ✅ |
Have strong equity and want a HELOC | ✅ (for renovation projects only) | ✅ Traditional HELOC based on current equity; can be used for general purposes |
Need funding in under 7 days | ✅ (unsecured only)
| ✅ |
Want fast, 100% online experience | ✅ | ✅ |
Need to borrow based on future value | ✅ | ❌ |
Our Role: How Terra Home Guides You Through Financing
We're not just your builder — we’re your partner from start to finish. Here’s how we help:
Our job is to make the entire construction journey as smooth as possible— and that includes helping you find the best solution for your project.
🏡 The Basement ADU
A couple used a $90K RenoFi renovation loan to transform their unfinished basement into a full entertainment lounge and guest suite.
✨ From Gutted to Gorgeous: A $230K Renovation That Paid Off
A family used a $230K RenoFi renovation loan to transform their gutted home into a thoughtfully designed space, increasing its value from $385K to $505K as they downsized.
🏦 Top-Tier Lending Without the Branch
A borrower chose Figure after researching top online lenders and praised the platform’s ease of access, strong communication, and fully digital process—no brick-and-mortar needed.