MEDINA, OHIO, MAY 17, 2016 — Spring is here and homeowners considering renovating or remodeling their homes might want to take advantage of low fixed interest rates on loans from County Treasurer John Burke’s Fix-It Funds Program. Beginning May 16, 2016, Fix-It Funds loan money will be available to Medina County homeowners through Westfield Bank at a fixed interest rate, which is up to 2% below the bank’s current rate.
“Since its inception in 2002, this county-sponsored program has been very helpful to over 850 homeowners in Medina County, providing over $12.5 million dollars in loans,” Burke stated. “Last year, 28 loans were processed through the program totaling $630,000.”
Almost all types of interior and exterior home improvements are eligible including painting, wallpapering, lighting, flooring, plumbing, carpeting, furnaces, air conditioners, remodeling, additions, decks, window and door replacements, roofing, siding, gutters, driveways, and sidewalks. A few “luxury” improvements are ineligible, including swimming pools, hot tubs and satellite dishes.
To qualify for this program, you must be a Medina County resident; your home must have an appraised home value of less than $200,000 (excluding land) according to the Medina County Auditor’s appraised value; and you cannot be delinquent on your real estate taxes. There is no maximum income limit to qualify for these loans. According to our records, about 90% of Medina County homeowners may qualify for a Fix-It Funds Loan.
Burke said, “this year with Westfield Bank we expect to see some very attractive fixed interest rates depending on the borrower’s credit rating.” Loans can range from a minimum of $5,000 to a maximum of $50,000 and are given on a first-come, first-served basis until the available funds are depleted.
Qualified homeowners interested in low-interest home improvement loans may apply at Westfield Bank branches in Medina at 4015 Medina Road (Route 18) and Two Park Circle in Westfield Center.
For more information about Fix-It Fund loans, please contact the Medina County Treasurer’s office at 330.725.9746, email: email@example.com or Westfield Bank, Cheryl Murrin at 330.764.6091, email: firstname.lastname@example.org.