City Offering Home Improvement Loans to Residents

Citywide, residents continue to invest in their homes. From fresh paint to new kitchens, proper maintenance and valuable upgrades improve property values and quality of life. In challenging economic times, it can be more difficult to finance the larger improvements, especially in recent months where equity lines of credit and second mortgage loans are harder to secure.

The City of Lakewood’s Division of Community Development is bridging the gap to make it easier for home owners to continue to improve their properties by offering low interest home improvement loans to its residents. The City of Lakewood’s Division of Community Development offers a variety of programs to help Lakewood property owners maintain their homes. The Low Interest Home Improvement Loan Program is available to qualified Lakewood residents and rental property owners at low, affordable interest rates.

The mission of the Division of Community Development is to help Lakewood residents maintain and preserve Lakewood’s housing stock. The continuous improvement and rehabilitation of the city’s residential property is key to preserving our city’s vitality and strength. The Division of Community Development funds exist in part to ensure that all residents—regardless of income or financial resources—have reasonable access to loan products that promote property improvements that enhance our neighborhoods.

Applications are accepted year round. However, seasonal repairs and improvements like exterior paint, roofs and foundations should be applied for early in the year in order to complete work in the spring, summer and fall months.

Detailed information on the Low Interest Home Improvement Loan program is available on the City of Lakewood’s web site, onelakewood.com. Questions may be directed to the Division of Community Development by calling 216-529-HOME.