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Home Repair Loan Program

Maximum loan amount: $1,000,000

View application: http://www.cashcleveland.org/home_improvement.asp

Disciplines:Not Discipline Specific

Organization: Cleveland Action to Support Housing

Description: INTEREST RATES FROM 2.3%!

CASH’s Home Improvement Loan Program will assist you by:

- Securing a low-interest loan from reputable lenders. CASH will help you attain a fixed low rate for up to 12 years. A mortgage will be placed on your property to secure the loan. CASH does not put limits on income or loan limit, as all credit decisions are based upon your ability to pay.

- Ensuring the work is done right the first time and that you are being charged a fair price. After your application is taken and approved, a CASH Construction Specialist will meet with you to talk about the work you wish to complete. During the visit, the Construction Specialist will also assess the health and safety status of your home. In all instances, the Construction Specialist will consider your desired repairs as well as repairs to protect the health and safety of the home’s occupants. Based upon this visit, the Construction Specialist will develop specifications for the work to be completed and formulate cost estimates.

- Administering contracts between you, the homeowner, and the contractor hired to complete the repairs. All contracts will be based upon an agreement between the homeowner, CASH and the contractor to a set of specifications and cost estimates.

- Disbursing the funds for the project. CASH will act as the escrow agent between you and the bank. Funds needed to pay for the repairs to your property will be sent to CASH, as they are responsible for paying the contractor. All payments will be approved by you, the homeowner.

In order to receive an application for CASH’s Home Improvement Loan Program, visit our Apply page to fill out a request form. CASH will then mail you a loan application. Once you have completed the application and provided the supplemental documentation, CASH forwards the application to partnership banks for review. Once the application and necessary financial information is reviewed by the bank, we will contact you with a decision within 24 to 48 hours.