Affordable loans

How it works

In partnership with local lenders, the Land Bank offers affordable loan options as part of the Heritage Home Program (HHP). HHP is a Land Bank initiative that helps homeowners restore and maintain their home if it is at least 50 years old. Homeowners must also be completely current on their property taxes to apply.

HHP Equity & Home Repair Loans

Our home equity and home repair loans are designed for owner-occupied properties. Apply it to almost all exterior and interior repair and renovation projects.

This includes:

  • Painting
  • Window repair and replacement
  • Roof repair and replacement
  • Porch repair
  • Masonry work
  • Carpentry
  • Chimney repair
  • Basement waterproofing
  • Plumbing
  • Basement finishing
  • Kitchen remodeling
  • Bathroom remodel

Our home equity loans require that the borrower have available home equity and meet a lender's credit qualifications. These loans have a 5 to 10-year term and a fixed interest as low as 3.5%.

Our home repair loans are based on a borrower's ability to repay the loan and not on available home equity. These loans have a 10-year term and very competitive interest rates.

Energy Efficiency Loans

Our energy efficiency loans are designed for owner-occupied properties. Improvements are limited to items that improve the home's energy efficiency, like:

  • Window repair and replacement (including storm windows)
  • Heating
  • Air conditioning
  • Hot water tanks
  • Insulation

Our Property Assessed Clean Energy (PACE) loan allows a homeowner to borrow up to 20% of the home's value even if the homeowner does not have available equity. PACE is repaid through a special assessment on the home's property taxes for a 10-year term at a 4.25% interest rate.

Our energy efficiency loan is based on a borrower's ability to repay the loan and not on available home equity. These loans are for up to $2,500 and have very competitive interest rates.

Keep your older home in top shape