Cleveland Restoration Society has announced its Heritage Home Program low-interest home improvement loans will end on December 31. The organization encourages interested homeowners to apply now for this 2% home equity loan.
As part of the application, residents must submit at least one estimate for every home repair they propose to include in the loan. Because getting estimates takes some time, interested homeowners should begin the process as soon as possible.
Since 2012, Cleveland Restoration Society's Heritage Home Program, in partnership with Cuyahoga County, has offered these 2% interest rate loans to borrowers in Shaker Heights for improvement of older homes. This low rate, combined with project assistance from Cleveland Restoration Society, has provided owners of older homes (50+ years old) with the tools necessary to maintain and improve their homes.
KeyBank, which has been a partner in the Heritage Home Program for 32 years, will honor the 2% fixed rate for borrowers in Shaker if an application is made by the end of this calendar year. The low rate will apply to loans approved and funded in 2026 with the proviso that an application is made at the bank before December 31, 2025.
Cleveland Restoration states a new low-interest loan product likely will be available in early 2026 but it will not be close to the 2% rate.
Learn about eligibility and start an application.