Everything seemed to be going great with RenoFi, until it came to the appraisal. Firstly, the will charge you a premium for the appraisal because it is a special, post-renovation, appraisal. Then, the company that they contract to do the Appraisal is Dart, a company with a poor reputation on Google reviews. Dart then sub-contracts another appraiser to come out (ProFirst, Inc out of Cockeysville, MD in my case) and do a lackluster appraisal using outdated comps and very little consideration for recent fluctuations in the housing market.
After over-paying for the appraisal, my home was appraised considerably below value, which disqualified me from receiving the low interest rates that my credit score warranted. I told Renofi, the appraiser, and the bank to go and shove their high interest loan up their a**, and I went with another option to secure funding for my renovation.