Kettering has low-interest loan funds for home improvements

Credit: AP

Credit: AP

Kettering homeowners wanting to rehab their houses can apply to the city for low-interest loans.

The city has received $250,000 in grant funds for income eligible homeowners “that could include a whole variety of improvements,” Kettering Planning and Development Director Tom Robillard said.

Qualifying applicants are eligible up for to $75,000 in loans that could fund the following improvements, according to the city:

• Heating, plumbing and electrical systems

• Roof replacement

• Windows and doors

• Insulation and siding

“Construction costs are really quite expensive nowadays,” Robillard said. “Even on a small home, upgrading the insulation or upgrading the mechanical equipment, windows … It gets really expensive really fast.”

Those eligible range from a single-person household with an annual gross income of $49,850 to a family of eight with an income of $94,000 a year, Kettering records show.

The city has $225,000 available with the remainder to go toward administration fees, Robillard said.

Depending on a household’s income, a household would qualify for a loan with a zero to 3% interest rate. The terms of the loan are based on the applicant’s ability to repay the loan, according to the city.

To participate in the low-interest and deferred loans, qualifying residents must own and occupy a single-family residential property.

The application can be downloaded, but the city cannot accept online applications at this time due to security reasons, Kettering records state.

City staff works with the homeowner to identify repairs that need addressed, assist the homeowner in choosing a contractor and monitor the quality of construction with the homeowner, officials said.

Once the household is determined to be income eligible, the city construction specialist performs interior and exterior inspections.

The homeowner seeks estimates from contractors and decides which one to hire. Appointments are encouraged and those interested can contact the community development program coordinator at 937-296-3308, according to the city.

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