Ohio (Hamilton County) Energy Efficient Loans available!

Hamilton County – Property Improvement Program
Program Overview:
State: Ohio
Incentive Type: Local Loan Program
Eligible Efficiency Technologies: Heat pumps, Central Air conditioners, Building Insulation, Windows, Doors
Eligible Renewable/Other Technologies: Passive Solar Space Heat, Solar Water Heat, Photovoltaics, Wind, Daylighting
Applicable Sectors: Commercial, Residential, Multi-Family Residential
Maximum Incentive: $50,000
Terms: Loans at 3% below market rate; five-year term
Web Site: http://www.hamiltoncountyohio.gov/hc/hc_hip.asp
The Hamilton County, Ohio, Home Improvement Program (HIP) was originally initiated in 2002, and then reinstated in May 2008. The HIP loan allows homeowners in Hamilton County communities to borrow money to repair or remodel homes or rental property at interest rates 3% below the lowest rate a bank would normally offer. The following banks participate: Fifth Third Bank, U.S. Bank, KeyBank, North Side Bank and First Safety Bank. The HIP loan is usually structured as a home equity loan, secured by a second mortgage on the property. Credit requirements apply.

Eligible residential (one- or two-family homes) and commercial properties must have an assessed value of less than $350,000 and must be current on property tax payments. There is no property value limit on multi-family dwellings (three or more units). Loans may be used for alteration, repair, maintenance or improvements, including renewable energy and energy efficiency improvements, although funds may not be used for luxury projects (e.g., swimming pools, hot tubs) or for free-standing appliances. Appliances that are permanently installed are permissible.

Since 2002, the HIP has made 2,300 loans. Check the program web site for information about which communities within Hamilton County participate.

Jay Springer
Hamilton County Department of Planning and Development
138 East Court Street
Room 807
Cincinnati, OH 45202
Phone: (513) 946-4459
E-Mail: jay.springer@hamilton-co.org
Web Site: http://www.hamiltoncountyohio.gov/

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