“Fix-It Funds was perfect for us,” says one Medina County homeowner. “It enabled us to have a new driveway and roof, fix a front stoop and get some new windows, all with an excellent interest rate and a five year pay-off plan.”
With home improvement season now here, homeowners considering renovating or remodeling their homes might want to take advantage of similar low fixed interest rates on loans from County Treasurer John Burke’s Fix-It Funds Program. Beginning May 13, 2019, 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. Loans can be from a minimum of $5,000 to a maximum of $50,000 and are given on a first-come, first-served basis until available funds are depleted. “This discounted low interest home improvement loan program has been a real savings to about 1,000 homeowners in Medina County,” stated Treasurer Burke.
Almost all types of interior and exterior home improvements are eligible, including painting, wallpaper, lighting, flooring, plumbing, carpeting, furnaces, air conditioners, remodeling, additions, decks, window and door replacements, roofing, siding, gutters, driveways, patios and sidewalks to name a few. There are only a few ineligible improvements such as a swimming pool, satellite dish or hot tub. All improvements must be completed within one year of the loan being granted.
There is no income limit to qualify for these loans. You must be a Medina County resident; your home (either a single or multi-dwelling) must have a tax appraised value of $250,000 or less excluding land, according to the Medina County Auditor’s appraised value; and you cannot be delinquent on your real estate taxes.
Many homeowners have taken advantage of the discounted fixed interest rate on these loans and saved thousands of dollars. Since its authorization by the County Commissioners in 2002, Fix-It Funds has provided $13.8 million dollars in low-interest loans to homeowners. “According to our records, 53,817 (91%) of the homes in Medina County may qualify for a Fix-It Funds loan,” Burke said.
This innovative and unique program has been given national recognition. Burke noted that his office was the proud recipient of the Eagle Award for best practices by the national county elected officials’ organization IACREOT for his Fix-It Funds program. Recently Treasurer Burke assisted the Treasurer of Stark County to establish the same linked-deposit program. Only three other counties in Ohio offer a similar program.
Qualified homeowners interested in low-interest improvement loans can apply at Westfield Bank at two locations: 4015 Medina Road on Route18 in Medina and Two Park Circle in Westfield Center.
For more information, please contact the Medina County Treasurer’s office at:
Or contact a Westfield Bank representative:
Cheryl Murrin (NMLS#1365194) at 330.764.6091, CherylMurrin@westfield-bank.com
Jean Letterly (NMLS#696100) at 330.661.6077, JeanLetterly@westfield-bank.com
Michelle Evans (NMLS#1460020) at 330.661.6083, MichelleEvans@westfield-bank.com