Fixing up or buying a home?
Need a roof? A new furnace? Buying a Euclid home? You may want to consider contacting the Euclid Development Corporation (EDCOR) first. EDCOR is offering qualified Euclid homeowners three percent loans, up to $30,000, to fix violations and home improvement. Applicants must own and reside in the home in which the improvements are to be made. A U.S. Department of Housing and Urban Development (HUD) grant, under the Housing and Community Development Block Grant program, and the HOME program provide funds for this program.
Additionally, through Euclid’s Special Projects Division of the Community Services and Economic Development Department, qualifying homeowners can receive services customized to meet various housing needs such as weatherization, dead bolts, smoke alarms, furnace inspection and cleaning and handicapped services. Since there can be a waiting list, those interested should apply early. For information on this program, call (216) 289-8562.
The city of Euclid is offering qualified first time home buyers a down payment assistance program. This program, managed in cooperation with Cuyahoga county, provides a 17 percent down payment (home buyer provides three percent), up to a maximum of $14,500, for purchasing a home in Euclid. Half of the money is forgiven (in increments) over a five-year period as long as the buyer resides in the home at least five years, with the remaining half recaptured upon sale or transfer of the home. There are no monthly payments required for this funding, but funds are limited so apply early. Those interested for this program should visit www.cityofeuclid.com for more information.
With all these programs available, now is the time to purchase a Euclid home or fix up your Euclid home. For additional information, please call EDCOR at (216) 289-4625.
Jeffrey A. Beck
I am a 32 year Euclid homeowner. I am involved in Weed and Seed, EDCOR, and am a Unit Commissioner with the Euclid BSA troops.