Storefront Renovation Program

Storefront Renovation Program (SRP) offers technical, design and financial assistance to commercial property owners whose retail (storefront) buildings are located in the Detroit Shoreway neighborhood. The goal of the SRP is to assist commercial property and business owners in achieving a comprehensive exterior rehabilitation that not only provides an aesthetic visual impact to the retail district, but makes the businesses operating within the storefront(s) competitive in Cleveland’s regional shopping market. The SRP offers a 40% rebate (up to $25,000) to the property owner upon completion of construction per design standards and labor/wage requirements. Call Marilyn Mosinski, Director of Economic Development, at 216-961-4242 to learn more.

Neighborhood Retail Assistance Program

601 Lakeside Avenue
Weekdays 8 am to 5 pm
(216) 664-3720

The Neighborhood Retail Assistance program or ‘NRAP’ program is structured to provide grant and loan assistance (up to $40,000) to small retail-related businesses and targets projects which will upgrade the exterior appearance and feel of retail districts. These projects include landscaping, lighting and signage, enhancements which have proven to have a positive effect on the economic vitality, vibrancy, and image of a community.

Westside Housing Center


6604 Detroit Avenue (Gordon Square Arcade)
Monday-Thursday: 11 am to 7 pm
Friday: 9 am to 5 pm
Saturday: 10 am to 3 pm
(216) 961-4242

The Westside Housing Center serves to lessen the negative effects of the foreclosure crisis while providing a supportive environment for people to locate affordable housing and help them to maintain financial stability. To achieve these results, the Westside Housing Center includes both a housing assistance component and an educational and financial literacy component. Call today for help and take a look below at services the Westside Housing Center offers.

Housing Assistance

• Foreclosure prevention
• Home repair loan offerings and application assistance
• Promote homeownership
• Promote rental housing options
• Linking investors and home rehabbers with available properties

Education and Financial Literacy

• First-time homebuyer awareness
• Moving from renting to owning
• Individual Development Accounts
• Financial literacy
• Responsible renter awareness

Private Products & Services

Call Matt Lasko, Director of Housing, at 216-961-4242
or mlasko@dscdo.org for information about all of the products and services below.

Charter One Bank

(A) EZ Home Improvement Loan

Loan Amounts	Maximum Term	Interest Rate	Loan-to-Value Ratio	2nd Mortgage Required	Maximum Debt Ratio
Minimum - $1,000 Maximum - $10,000	$1,000 loan – 12 to 36 months $1,001 plus – 12 to 84 months	3% for $1,000 loan 6% for 1,001 loan plus	N/A	No	Cannot exceed 45%

Fees	Income Restrictions	Investor Owner	Geographic Restrictions	Type of Home
None	Less than 80% Area Median Income No restrictions if located in low-to-moderate income neighborhood	No	Must be in low- to-moderate income census tract if income exceeds 80% of area median income	Owner Occupied 1-4 Unit Home or Condo

* Program is available for home improvement purposes. Applicant must reside in a low- to-moderate income census tract or have an income at 80% or less of area median income. Interest rates are subject to change.

(B) Energy Efficiency Loan

Loan Amounts	Maximum Term	Interest Rate	Loan-to-Value Ratio	2nd Mortgage Required	Maximum Debt Ratio
Minimum - $1,000 Maximum - $10,000	12 to 84 months	3% for $3,000 5% for $3,001-$10,000	N/A	No	Cannot exceed 45%

Fees	Income Restrictions	Investor Owner	Geographic Restrictions	Type of Home
None	Less than 80% Area Median Income No restrictions if located in low-to-moderate	No	Must be in low- to-moderate income census tract if income exceeds 80% of area median income	Owner Occupied 1-4 Unit Home or Condo

* Program is limited to home improvements loans that increase the home’s energy efficiency. Contractor’s estimates are required. Applicant must reside in a low-to-moderate income census tract or have income at 80% or less of area median income. Interest rates are subject to change.

For additional information, please call any local Charter One bank branch.

Dollar Bank

(A) Home Works Home Improvement Loan

Loan Amounts	Maximum Term	Interest Rate	Loan-to-Value Ratio	2nd Mortgage Required	Maximum Debt Ratio
Minimum - None Maximum - $50,000	180 months	Market Rate	135%	Yes	40%

Fees	Income Restrictions	Investor Owner	Geographic Restrictions	Type of Home
Appraisal fee (if required: $35-$130)	N/A	No	None	Owner Occupied 1-4 Unit Home or Condo

* No home equity required. No obligation fees. No closing costs. No prepayment penalty.

For additional information visit any Dollar Bank branch or call 1-800-242-BANK

Fifth Third Bank

(A) Streamline 203K Rehabilitation Program

Loan Amounts	Maximum Term	Interest Rate	Loan-to-Value Ratio	2nd Mortgage Required	Maximum Debt Ratio
$271,060	30 Years	Set Daily	Based on after approved value	N/A	Determined by auto underwriting system

Fees	Income Restrictions	Investor Owner	Geographic Restrictions	Type of Home
Call for additional information	None	None	None	1-4 Unit Primary Residence

For additional information please contact Tim Gossman at (216) 274-5428 or via email by tim.gossman@53.com or contact Randy Koepsel at (440) 461-5747 or via email at randykoepsel@53.com.

First Merit Bank

(A) Home Style Renovation Mortgage

Loan Amounts	Maximum Term	Interest Rate	Loan-to-Value Ratio	2nd Mortgage Required	Maximum Debt Ratio
Minimum - $25,000 Maximum - $417,000	30 years	Set Daily	95% - 1-2 Unit 75% - 3-4 unit 75% - 1 Unit Investment	No	Determined by auto underwriting system

Fees	Income Restrictions	Investor Owner	Geographic Restrictions	Type of Home
$350 application fee	None	Yes	None	1-4 unit owner occupied 1 unit second home 1 unit investment property

 (B) Streamline 203K Rehabilitation Program

Loan Amounts	Maximum Term	Interest Rate	Loan-to-Value Ratio	2nd Mortgage Required	Maximum Debt Ratio
Call for Details	30 years	Call for Rates	96.50% - for purchase 97.75% - refinance 95.00% - refinance with cash out	No	31/43 or determined by auto underwriting system

Fees	Income Restrictions	Investor Owner	Geographic Restrictions	Type of Home
$350 application fee	None	No	None	1-4 unit primary residence

For additional information, please call Roy Buser at (216) 688-0756 or via email at roy.buser@firstmerit.com.

Huntington National Bank

(A) Community Access Mortgage

Loan Amounts	Maximum Term	Interest Rate	Loan-to-Value Ratio	2nd Mortgage Required	Maximum Debt Ratio
Maximum - $417,000	30 year fixed	Call for rates	95% - for 1 unit 90% for 2 units	No	35/45

Fees	Income Restrictions	Investor Owner	Geographic Restrictions	Type of Home
5% - ($500 must be from borrowers own funds)	No	Yes	Must be in Huntington target area – call for details	1-2 units only

For additional information, please call Lisa Behm at (216) 515-6040 or via email at lisa.behm@huntington.com.

National City Bank

(A) FHA 203K

Loan Amounts	Maximum Term	Interest Rate	Loan-to-Value Ratio	2nd Mortgage Required	Maximum Debt Ratio
Maximum - $298,750	30 years	Fixed rates: 3/1 & 5/1 arms available	98.75% if LTV < $50,000 97.75% if LTV > $50,000	No	31/43: 33/45 with energy efficient repairs

Fees	Income Restrictions	Investor Owner	Geographic Restrictions	Type of Home
3% down payment required	None	No	None	1-4 unit owner occupied primary residence

For additional information, please call Wade Hampton at (216) 222-2891 or via email at wade.hampton@ncmc.com.

U.S. Bank

(A) American Dream with Repair Escrows

Loan Amounts	Maximum Term	Interest Rate	Loan-to-Value Ratio	2nd Mortgage Required	Maximum Debt Ratio
Maximum – 90% of purchase price	30 years	.125% below 30 year fixed rate	Cannot exceed 110%	No	31/41

Fees	Income Restrictions	Investor Owner	Geographic Restrictions	Type of Home
Fees related to inspection and title	Less than 80% HUD area median income if not in low-to-moderate income area	No	None	1-4 unit primary residence

For additional information, please call Laura Malone at (216) 475-7812 or via email at laura.malone@usbank.com.

Nonprofit Organization’s Program Products & Services

Cleveland Action to Support Housing
Cleveland Action to Support Housing (CASH) formed as a non-profit in the 1970’s with the mission of encouraging revitalization in Cleveland neighborhoods. CASH collaborates with local lenders to provide home rehabilitation loans to homeowners at low interest rates. CASH will also assist in qualifying contractors and ensuring that you receive a fair price for your home repairs.

(A) Cleveland Action to Support Housing

Loan Amounts	Maximum Term	Interest Rate	Loan-to-Value Ratio	2nd Mortgage Required	Maximum Debt Ratio
Minimum - $3,000 Maximum - None	12 years	2.7%	125%	Yes	45%

Fees	Income Restrictions	Investor Owner	Geographic Restrictions	Type of Home
1% of amount borrowed for single family 2% of amount borrowed for 2+ units	None	Yes	City of Cleveland	Single Family Home Apartment Buildings

For additional information please contact Cora Donley at (216) 621-7350 or by email at cdonley@cashcleveland.org or visit www.cashcleveland.org

Cleveland Restoration Society
The Cleveland Restoration Society and Preservation Resource Center of Northeastern Ohio (CRS) is a nonprofit 501(c)(3) community organization which strives to develop economically-viable solutions to preservation challenges in order to preserve and enhance the architectural heritage of our region. Founded in 1972, CRS is a Local Partner of the National Trust for Historic Preservation and is the primary local historic preservation organization in Northeastern Ohio

(A) Neighborhood Historic Preservation Program

Loan Amounts	Maximum Term	Interest Rate	Loan-to-Value Ratio	2nd Mortgage Required	Maximum Debt Ratio
Minimum - $5,000 Maximum - $250,000	12 years	1.3%	90% - owned occupied 70% - non owner occupied	Yes	45%

Fees	Income Restrictions	Investor Owner	Geographic Restrictions	Type of Home
$99 Key Bank closing fee 2% CRS management fee	None	Yes (1-3 units)	Cleveland Wards: 4,8,9,10,13,14,15	1-4 units owner occupied At least 50 years old Must retain majority of original architectural features

(B) Heritage Home Program

Loan Amounts	Maximum Term	Interest Rate	Loan-to-Value Ratio	2nd Mortgage Required	Maximum Debt Ratio
Minimum - $3,000 Maximum - $75,000	7 years up to $24,999 10years - $25,000+	3.5% fixed	90% - owner occupied 70% - otherwise	Yes	45%

Fees	Income Restrictions	Investor Owner	Geographic Restrictions	Type of Home
$500 escrow fee (only if loan is based on after-rehab appraisal)	None	Yes (1-3 units)	Cleveland Wards: 1,11,16,18	50 years or older Must retain majority of exterior architectural features including siding and windows

* The Heritage Home technical team also provides free historic preservation rehab advice to all homeowners in our service area. Interest rates are adjusted quarterly. Note – regarding the 2nd mortgage, Key Bank will only take 3rd position if they hold 2nd position.

For additional information, please call J.P. Kilroy at (216) 426-3116 or visit www.clevelandrestoration.org/HomeownerPrograms/nhpp.htm.

Neighborhood Housing Services of Greater Cleveland
For over 32 years, Neighborhood Housing Services of Greater Cleveland (NHSGC), a trusted not-for-profit organization, has provided families in Northeast Ohio with the housing education and home repair loans they need to buy, improve and keep their homes. NHSGC partners with the private and public sectors to help more than 1,400 people each year attain homeownership and improve their homes.

(A) Home Repair Loan

Loan Amounts	Maximum Term	Interest Rate	Loan-to-Value Ratio	2nd Mortgage Required	Maximum Debt Ratio
Minimum - $1,000 Maximum - $60,000	30 years	6.5%	110%	Yes	45%

Fees	Income Restrictions	Investor Owner	Geographic Restrictions	Type of Home
Yes - varies	None	No	None	1-4 unit owner occupied only

For additional information please contact Anne Kodash at (216) 458-4663 or by email at akodash@nhscleveland.org or visit www.nhscleveland.org.

Housing Enhancement Loan Program (HELP)
HELP allows homeowners in most Cuyahoga County communities to borrow money for repairing or remodeling homes at three percentage points below a bank’s market rate for home improvement loans. As of 08/24/2007, HELP has facilitated more than 6650 loans totaling over $86.5 million. The average amount of a HELP loan is about $12,000.

(A) HELP

Loan Amounts	Maximum Term	Interest Rate	Loan-to-Value Ratio	2nd Mortgage Required	Maximum Debt Ratio
Minimum - $3,000 Maximum - $200,000	5 Years < $12,500 10 Years > $12,500	3% below client’s approved rate	Varies with lenders	Varies with lenders	Varies with lenders

Fees	Income Restrictions	Investor Owner	Geographic Restrictions	Type of Home
$75-$175: additional fees may apply for commercial loans	None	Yes	City of Cleveland	Single family and two-family homes with value less than $250,000. No limit for 3 family homes

For additional information please contact participating lenders (Fifth Third Bank, Huntington Bank, Key Bank, National City Bank, US Bank) or visit http://treasurer.cuyahogacounty.us/homeimprove/Helphandout.pdf.

City of Cleveland Housing Rehabilitation Loans and Incentive Programs

Afford-A-Home (AAH)
AAH combines a bank mortgage with a second mortgage from the City to cover the total cost of purchasing and repairing a home. The second mortgage is a deferred loan at 0% interest. A down payment of 3% is required for the 30 year fixed rate loan. Buyers who meet the listed income guidelines qualify for a second mortgage on any one or two family property in the City, up to $10,000. Those with higher incomes are eligible for second mortgages of up to $5,000 on properties located in the target area. AAH operates city-wide with the assistance of 12 neighborhood organizations.

* For additional information call 216.664-4218 or 216.664-4217.

Senior Housing Assistance Program (SHAP)
Small grants are available through the Department of Aging for elderly (60+) and disabled low-income homeowners, who reside in (and own) single or two-family homes in need of critical, health, safety and emergency maintenance repairs.

* For additional information call 216.664.2833.

Home Weatherization Assistance Program (HWAP)
Grants of approximately $3,250 per unit are available through the State of Ohio for homeowners and tenants who meet the low-income guidelines listed below. The free weatherization is performed by private contractors trained to State of Ohio standards. The City shares its State allocation with these six delegate agencies: Cleveland Housing Network, Cudell Improvement, Inc., Detroit Shoreway Community Development Org., Fairfax Renaissance Development Corp., Community Housing Solutions, and Mt. Pleasant Now.

*For additional information call 216.664.4052 or 216.961.4242.

Paint Refund Program
Refunds of up to $400 to cover the cost of paint and materials are available to homeowners and tenants who paint the exterior of their homes. Applicants must meet the income guidelines listed for the first come - first serve program. The application period usually opens in May. Every ward of the City is served by a neighborhood agency that issues credit vouchers for participants at local paint stores.

* For additional information call 216.664.4053 or 216.961.4242 for applications or agency names and telephone numbers.

Repair-A-Home 
Loans ranging from 0% to 3% interest are available to owner occupants of 1-2 family dwellings who meet income guidelines. Monies must be used to repair homes to meet code and housing quality standards. Ability to repay loan is consideration. Loan amount and repayment terms depend upon the applicant’s disposable income.

* For additional information call 216.664.2045.