Good Idea, Poor Execution - Avoid - Renovation Advisor RenoFi Employee Review

2.0
20 Dec 2024
Recommend
CEO approval
Business outlook

Pros

Good idea - renovation loans for consumers that consider the ARV. I enjoyed my co-workers. At the time, there seemed to be a push to improve the product and experience. Brought in a trainer and started modernizing onboarding.

Cons

Poor execution—underwriting was convoluted, and despite being told to pitch "30 to 45 day close," it was usually a 60+, if not 90+-day process that would frustrate borrowers and lead to a large amount of churn. Weak IP - "tech company" with extremely underwhelming tech for anyone actually familiar with the space. Really just a lending company looking for VC capital. Compensation was awful Inexperienced leadership team - very obviously have limited mortgage experience despite trying to "talk the talk" Big promises during the interview - borderline bait and switch Underpaid and overworked OPS and at the time only 1 UW leading to pain point #1. The process was generally excruciating. Multiple rounds of layoffs

Explore other reviews about RenoFi

5.0
20 May 2026
Anonymous employee
Recommend
CEO approval
Business outlook

Pros

I’ve been at RenoFi for over a year and have found it to be a great place to work. The people are my favorite part of the company— the team is down to earth, hardworking, supportive, and always doing their best to help the company grow. There’s a high level of trust and autonomy, and you’re treated like an adult. In general I’ve found the team at RenoFi to be flexible, open to feedback, and constantly looking for ways to improve and evolve. It’s a collaborative environment where people care about the work and about each other.

Cons

Like many startups, there are some growing pains that come with scaling quickly. Priorities and processes can shift frequently, and it can sometimes be difficult to be in keep in alignment for best practices as the company evolves.

5.0
7 May 2026
Recommend
CEO approval
Business outlook

Pros

Great company to work if you are looking for a competitive advantage in this market. With their unique Renovation and New Construction product offerings you can really tap into a new book of business and revenue with Contractors. Contractors and homeowners alike absolutely love the unique features of the one-of-a-kind Renovation Future Value HELOC. No other company offers a program like it and it has really become the shining star of increasing my business. Training and processing support systems are robust and allow a Loan Officer with little to no experience in Reno to get up to speed quickly selling and closing these loans. Birthed from a tech mindset, company leadership is easily approachable with new ideas and incredibly forward thinking with technology improvements. New recent AI enhancements have come to fruition very quickly and have made tremendous improvements in our Renovation Underwriting process. Overall - amazing place to work. This company has a great future ahead. We're 100% the #1 place for Renovation Lending in the country.

Cons

It's an fully remote company. Not really a con, but might be if you like to have an that more in-person day to day experience.

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