The demand for home renovations has never been stronger, yet, it's surprisingly difficult for a new homeowner to renovate. It can take a decade to build up enough home equity and savings to pay for a major renovation. As a result, recent homeowners do a lot of financially-suboptimal things to compensate like borrow from their 401k, rack up credit card debt, and use high-interest personal loans. Or they just live unhappily for years in a home that doesn't meet their family's needs.
But by completing a major renovation, homeowners are increasing the value of their home. Professional real estate investors leverage this After Renovation Value (ARV) to roll the increase in value into new properties all the time. But there hasn't been a great way for homeowners to take advantage of this. If homeowners had an ability to borrow against the ARV, they could increase their borrowing power up to 10x.
To meet this need, RenoFi created a platform that enables homeowners to borrow funds from RenoFi approved lenders in the form of the first home equity loan purpose-built for renovations! Unlike standard home equity loans, RenoFi Loans use the value of your home post-renovation which lets you borrow the most money at the best possible terms. RenoFi is creating a full suite of renovation loan products to better suit the needs of today’s homeowners!
For homeowners, RenoFi makes it possible to renovate years earlier than might be otherwise feasible. For contractors, we empower the financing of renovations at the point of sale, reducing instances of scope reduction, and ensuring prompt payment. Our lender partners, most often credit unions, rely on RenoFi's platform to generate loans, create efficiencies, and grow membership. The lenders pay RenoFi for the new loans, which allows us to offer our services to homeowners for free. RenoFi is truly a win-win-win for everyone involved.
RenoFi is backed by some of the best startup investors in the world, including Canaan Partners and First Round Capital.
What you’ll do at RenoFi
Our team is focused on crafting an experience that makes the complex process of financing a renovation accessible, easy to understand, and even a bit whimsical at times (thanks to our fantastic product design team!). On a given day, we might be working on the interfaces that will help homeowners navigate the process of financing their renovation, or the systems that enable our lending partners.
We're still a small team. You’ll have a ton of impact and work across a number of areas. You'll work with the team to build new product functionality from start to finish as well as polish the existing product. You'll contribute in the product process, exploring options to solve our customers' needs, thinking through UX, and ultimately implementing features across the stack.
What we look for
A deep thinking product designer who is passionate about making great products that improve the lives of real people. You understand how to balance the needs of the users, the business and technology.
At RenoFi you will be involved in every aspect of the product development process, from brainstorming product innovations, to prototyping, to tweaking pixels right before launch. You will be expected to utilize your full range of UX, interaction, and UI design skills.
We face a number of design challenges. You’ll lead the full lifecycle of your own product design projects, shape how we test and optimize existing features, and make a positive impact on how the design team operates and engages with the rest of the company. You love a fast-paced product cycle and feel comfortable iterating quickly. You care about interaction design, typography and layout, and understand the complex nature of changing web and mobile technologies having designed for both.
You love to dive in and understand the very essence of a problem, why we’re solving it and what success will look like. You love to get into the mindset of users, to understand how they think and feel and create a true sense of empathy for them.
You love challenging problems and can collaborate with team members to define the problem, form a hypothesis, and work to test your hypothesis quickly.
You have a quiver of product design tools & techniques that you can deploy at the right moment. You also understand the value of user research and some techniques to employ in order to get the right data to inform your design decisions.
You have strong communication and collaboration skills. Our team is a highly collaborative team, so open dialogue and a positive attitude is crucial. You craft amazing looking visuals for digital experiences, and you create functionality that always keeps simplicity, ease of use, optimization and context in mind.
You have 4+ years of experience building building and shipping applications or software that span desktop, tablet, and mobile.
We are committed to hiring and cultivating a diverse team. If you are uncertain about whether you meet our requirements, please apply anyway!
We are a globally distributed team
RenoFi has been built from the start as a fully distributed team with an intentional focus on growing a strong team and culture that spans timezones and nationalities. Here's one fun example!
Please highlight any prior experience working remotely when applying. US or GMT-adjacent timezones will be prioritized.
RenoFi offers competitive cash and equity compensation. Some benefit offerings will vary from country to country. In the United States, we offer competitive health and retirement plans. All staff across the globe enjoy a flexible vacation policy.
Read more about RenoFi
Our post announcing our funding: https://www.renofi.com/blog/financing-should-not-be-the-hardest-part-of-renovating/
Blog post by our lead investor announcing his investment in RenoFi: https://www.canaan.com/latest/brendan-dickinson-announcing-our-investment-in-renofi
National coverage by Housing Wire: https://www.housingwire.com/articles/renofi-raises-6-4-million-to-help-lenders-offer-home-renovation-loans/