Low interest HIP Program loans reinstated

Last week, Jami Stutzman informed her Keepin’ it REAL Estate readers that the Hamilton County Board of Commissioners voted on May 28th to reinstate the Hamilton County Home Improvement Program (HIP). HIP loans enable Hamilton County homeowners in these participating communities, including Norwood, to borrow money to repair or remodel their homes or rental properties at interest rates 3% below the lowest rate a bank would normally offer. Below are a few of the details from the Hamilton County HIP website:

- No Income Restrictions or limits (must be able to meet bank's credit requirements)
- Loans capped at $50,000
- For one-family, or two-family, and commercial properties valued up to $350,000 (based on - Hamilton County Auditor's appraisal)
- Owner-occupied and investment dwellings
- No property value limit on multi-family dwellings (three or more units)
- Loans can be used for alteration, repair, maintenance or improvement
- Can also be used for code violation compliance and property upgrades