JUST FIX IT – Home Repair Loan Program
The Just Fix It Home Repair Loan is a program administered by the Western Reserve Community Development Corporation and Dollar Bank serving the residents of Lake and Geauga Counties. This nonprofit program offers low-interest loans, technical support, general contracting services and construction management services to help owners improve their homes and achieve the American Dream of building wealth through home ownership.
This program is great for those emergency leaky roofs or the shingles that have gone beyond their twenty years and just need replaced. This program is also wonderful for that electrical wiring that is thirty years too old, the windows that have to be replaced, the driveway that can’t be blacktopped again or the bathroom or kitchen that needs updating. This special lending agreement is important for the over 70% of Americans who live pay check to paycheck and do not have savings to cover these kinds of major expenses. In addition, the quick turn around time for loan approval also provides homeowners with another choice in how they want to improve their home.
The Just Fix It Home Repair Loan provides a discounted fixed interest rate of 6.49%, fixed term between 5 and 15 years, and a 120% loan-to-value ratio. What that means is that Dollar Bank will appraise your home with the rehab effort taken into account. The interest rate of this program is discounted through funds raised by WRCDC to provide another community investment tool for the residents of Lake and Geauga Counties.
Program eligibility:
- Must be a resident of Lake or Geauga County
- Owner occupied property (1-2 family structures)
- Code violations addressed first, before cosmetic
- Proof of Home Owners Insurance
- Proof of income
Loan officers from Dollar Bank will conveniently meet with pre-qualified customers to close on their loans with a quick turn around for approval. WRCDC will complete the work and provide construction management services for the customer.
Please Contact Kathy Boyer, for more information at 1-440-357-4400.
