Department of Planning and Development
0% Deferred Payment Loans
Mission Statement
The 0% Deferred Payment Loan Program provides 0% owner occupied home improvement loans (Maximum $25,000) to residents 65 or older. The loan is secured by a lien on the property - repaid when the house is sold or transferred or original applicant moves out of the property. After rehab, the property must meet Section 8 Housing Quality Standards and satisfy City of Lakewood Code requirements. Rebate assistance is available – Up to 50% of the loan (maximum $4,000) to offset the cost of qualified exterior improvements.
To qualify for this program, applicants must own and reside on their Lakewood property and meet the income guidelines listed.
Any Questions?
Contact the Division of Community Development at 216-529-HOME (4663) for additional information.
Income Guidelines
| Household Size |
Maximum Household Income |
| 1 |
$22,300 |
| 2 |
$25,500 |
| 3 |
$28,700 |
| 4 |
$31,850 |
| 5 |
$34,400 |
| 6 |
$36,950 |