Community Outreach Lending – Home Improvement Loan

Homeowners that live in a qualified neighborhood may be eligible to obtain a home improvement loan with the following features:

• Up to a $5,000 loan at an interest rate of 2.00%/2.00% APR* on a 5 year fixed term.
• The Loan is forgiveable as follows:
  • 1/3 of the loan is forgiven after 12 payments paid as agreed.
  • 2/3 of the loan is forgiven after 24 payments paid as agreed.
  • The Full balance of the loan is forgiven after 36 payments paid as agreed.
• ZERO borrower costs to create this loan.
• Funds must be used for home improvement and receipt of work performed is required.

*5 Year conventional loan based on $5,000 loan amount. Interest only payments of $8.33/month.

Dayton Home Improvement Loan Program

Homeowners that live within the City of Dayton may be eligible to obtain an unsecured home improvement loan for up to $20,000:

• Customers with FICO Scores ranging from 620-669 with a debt ratio of 45% or less Max Loan Amount is $5000.
• Customers with FICO Scores ranging from 670+ with a debt ratio of 50% or less Max Loan amount is $20,000.
• The traditional loan fee of $150 is waived for HomeOwnership Center clients.
• Loans are for up to 5 years.