CLEVELAND -- National City Bank, the lead subsidiary of National City Corp., said it has joined forces with the Cuyahoga County Department of Development to offer an affordable home-improvement loan product called Renew.
The program is designed to channel federal funds for roof replacements, exterior painting, wiring, and other improvements in single-family homes that meet income and property-value guidelines of the Department of Housing and Urban Development.
The maximum subsidized loan amount is $24,999 over 12 to 120 months, with the interest rate determined by HUD guidelines on family size and income.
Grants may be available to offset closing costs.
