Hamilton County - Home Improvement Program

Last updated: August 12, 2020

Program Overview

Implementing Sector:Local
Category:Financial Incentive
State:Ohio
Incentive Type:Loan Program
Web Site:https://www.hamiltoncountyohio.gov/government/open_hamilton_county
Administrator:Hamilton County Department of Community Development
Eligible Renewable/Other Technologies:Solar - Passive, Solar Water Heat, Solar Photovoltaics, Wind (All), Daylighting, Wind (Small)
Eligible Efficiency Technologies:Furnaces, Heat pumps, Air conditioners, Building Insulation, Windows, Doors, Siding, Roofs
Maximum Loan:$50,000
Loan Term:5 years
Interest Rate:3% below market rate

Summary

Hamilton County - Home Improvement Program

The Home Improvement Program (HIP) in Hamilton County, Ohio, originally opened in 2002 and was reinstated in May 2008. The HIP loan allows homeowners in Hamilton County communities to borrow money to repair or remodel homes or rental property at interest rates 3% below the lowest rate a bank would normally offer. The following banks participate in Fifth Third Bank, U.S. Bank, KeyBank, North Side Bank, and First Safety Bank. The HIP loan is usually structured as a home equity loan, secured by a second mortgage on the property. Credit requirements apply.

Eligible residential (one- or two-family homes) and commercial properties must have an assessed value of less than $350,000 and must be current on property tax payments. There is no property value limit on multi-family dwellings (three or more units). Loans may be used for alteration, repair, maintenance, or improvements, including renewable energy and energy efficiency improvements, although funds may not be used for luxury projects (e.g., swimming pools, hot tubs) or for free-standing appliances. Appliances that are permanently installed are permissible.

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