This loan is perfect for borrowers who want to begin renovations right after closing on a home they have purchased. It combines the cost of your mortgage with renovation funds. Contractors are paid directly from the bank as the renovation proceeds which makes it ideal for people who are buying fixer-uppers. This loan has more flexible eligibility requirements and lower down payments.
Homeowners may take advantage of certain tax incentives related to home improvement. While there may be some historic design limitations to qualify, it can be a substantial yearly savings. We are happy to help you navigate this lucrative process.
Other than renovation loans, customers may choose to pay out of pocket for the cost of renovation. Byrd Design and Build uses a sophisticated project management tool that allows you to track your payments and see any outstanding balances. Payments may be made through ACH or credit card directly from that program.