Akron Announces Low Interest Loans for Older Homes

Have you been putting off those nagging repairs to an older home? Does your roof need attention?  Do you need to paint your wood siding or trim?  Construction season is just around the corner and the Ohio Housing Finance Agency has partnered with the Cleveland Restoration Society (CRS), and KeyBank to introduce a specialized maintenance program for owners of older and historic homes (built 1955 or earlier).  The Heritage Home Program, which is administered by the non-profit Cleveland Restoration Society, provides low interest financing and free technical advice to enable owners of 1 – 3-unit properties to complete repairs without harming their home’s original character.  The program is launching initially in the West Hill and Highland Square neighborhoods of Akron, but will eventually expand throughout the city and Summit County.  The Ohio Housing Finance Agency received a 2006 Award for Program Excellence in Home Improvement and Rehabilitation category for the program from the National Council of State Housing Agencies (NCSHA). 

Eligible homeowners can use a 3.5% fixed interest rate, 10-year term rehabilitation loan through the program’s lender, KeyBank, to fund a variety of repair projects, including roof repair or replacement, repair and restoration of original windows, porch repair, landscaping, basement waterproofing, kitchen and bath remodeling, additions, and much more.  (The Heritage program cannot be used to purchase vinyl siding or vinyl replacement windows.)  Rental properties are also eligible for the loan program.  CRS’ team of historic rehabilitation specialists can answer your questions about the proper repair and maintenance of  your older home ─ at no charge. 

To learn more about the Heritage Home Program, contact Sara Hobbs of the Cleveland Restoration Society at (216) 426-3118.
 

The Cleveland Restoration Society/Preservation Resource Center of Northeastern Ohio is the region’s largest non-profit preservation organization and is a Local Partner affiliate of the National Trust for Historic Preservation.  Founded in 1972, CRS is dedicated to the preservation of Greater Cleveland’s historic resources.  To learn more about CRS, visit www.clevelandrestoration.org.

 

Note: Photos are available. Contact (216) 426-3108.

 

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