Department of Planning and Development
3% Owner Occupied Home Improvement Loans
Mission Statement
Here's an easy, low-cost way to maintain and improve the value of your home and your neighborhood. The Division of Community Development offers low-interest loans to Lakewood residents who want to improve their homes. Grant assistance is available to offset the cost of qualified exterior improvements. By utilizing this grant you may reduce your loan by up to 50% of the cost of eligible improvements (maximum $4,000). Exterior compliance with the Lakewood Building Department is required.
The Division of Community Development Staff will work with you throughout the loan process. If you take pride in your home and pride in living in Lakewood, we want to work with you.
Eligibility Requirements
- You must own and reside in the Lakewood home to which the proposed improvements or repairs are to be made. Condominium owners may also apply for loans for renovations inside their units.
- Your gross household income cannot exceed current income requirements.
| Household Size |
Maximum Household Income |
| 1 |
$35,500 |
| 2 |
$40,600 |
| 3 |
$45,650 |
| 4 |
$50,700 |
| 5 |
$54,800 |
| 6 |
$58,850 |
| 7 |
$62,900 |
| 8 |
$66,950 |
Typical Improvements
Loans may be used to eliminate any potential housing safety violations and on general property improvements such as:
- Roofs, gutters and downspouts
- Driveways and sidewalks in conjunction with other work
- Furnaces and hot water heaters
- Upgrading of electrical systems
- Bathroom replacements
- Ceiling and wall insulation
- Storm and replacement doors and windows
- Waterproofing basements
- Upgrading kitchens
- Plumbing
- Exterior painting
- Carpentry repairs
- Plaster repairs
The First Step In Getting A Loan
Contact the Division of Community Development at 216-529-HOME (4663) to schedule an appointment to fill out an application. You will need to supply the following information:
- If you're employed, a recent paycheck stub.
- Last year's W-2's and federal tax return with all attachments, if filed.
- If you're retired, current written monthly allowance verification. This can be obtained by calling Social Security toll-free at 1-800-772-1213.
- If you receive other pensions, written verification of monthly allowance.
- Verification of interest and dividends received from savings accounts, stocks, bonds, etc.
- Verification of the outstanding principal balance and monthly payments of any mortgages on the property.
- Outstanding liabilities (credit cards, car loans, credit union, etc.) including monthly payments.
- Month and year your home was purchased and purchase price.
- Market value of your home as listed on most recent tax appraisal.
- Birthdate and Social Security number of spouse, if applicable.
- Recent utility bills (water, electric, gas).
What To Do Next
- Have your property inspected. A mandatory inspection and evaluation of your property is completed by one of our Project Specialist to verify the work to be completed. This review is confidential and is not shared with any other city departments or divisions. Bid specifications will then be completed which you can use to obtain contractor estimates.
- Obtain cost estimates from contractors chosen by you who are registered to work in the City of Lakewood. A registered contractors list can be accessed from this website.
- Submit your cost estimates to us. The Division of Community Development Loan Approval Board will then consider your application. We are eager to work with you and will do all that we can to approve your application.
Any Questions?
Just call the Division of Community Development at 216-529-HOME (4663). We'll be happy to answer any questions and schedule an appointment to fill out an application.