You must live in a Participating Community to apply.
Full Loan details can be found in our information packet located under Program Resources.
PNC Lending Partnership Information
Conditions:
- Homeowner must meet bank’s lending criteria
- Construction work cannot start until loan is closed
- Loan is based on available equity
- In some scenarios, an appraisal will be used to help establish equity
- All loans funds will be escrowed through Cleveland Restoration Society and released to the contractor as progress is made on the project; down/first payments have special restrictions
- Homeowners and contractors must follow Heritage Home Program specifications for exterior work
- Contractors must pull permits and be properly licensed
- Project must be completed in eighteen months
- Contracts must be signed by Homeowner and your Contractor. Samples of our contracts can be found here: Sample Escrow Agreement and Sample Construction Contract