Housing - Housing Payment/Home Improvement Assistance | Euclid Development Corporation
Provides 3% interest loans for low and moderate income residents to use for home improvement and to correct code violations. Loans can be up to $24,999. For seniors and disabled persons there is an interest-plus $1 program (that means monthly payments of all applicable interest plus as little as $1 toward the principal, which of course means it will take a long time to pay off the loan). For other applicants principal and interest must be repaid within 10 years except in hardship cases.
Categories
Data provided by
211 Cleveland
Physical Address
585 E 222nd St., Euclid, OH 44123
Hours
M, W, F: 9:00am-4:30pm
Fax
(216) 289-8184
Voice
Application process
Phone for information or to make an appointment. Applicant will then be sent a letter confirming the appointment and informing them what documents to bring with them.
Fee
There are fixed fees for credit check, home inspection, title search, and mortgage filing. There is no additional fee charged by the agency itself.
Eligibility
Euclid applicants must own their home and have lived in that home for at least one year. They may not have a second mortgage or a home equity loan along with the first mortgage. They must have no more than $30,000 in liquid assets. Must fall within County established income limits for moderate income, depending on household size - call for specific limits.
Service area
Euclid, Ohio
Agency info
Euclid Development Corporation
Provides low-interest loans to low and moderate income residents of Euclid for home improvement and to correct code violations. Provides down payment assistance for qualified first time home buyers.