Believe it or not, the Hamilton County Commissioners have put your tax dollars to work for you. HIP, the Hamilton County Property Improvement Program is an initiative of the Hamilton County Commissioners.  The HIP loan enables property owners in Hamilton County communities to borrow money to repair or remodel their residential or commercial properties at rates 3% less than a bank would normally offer. The process typically takes less than 14 days.  Loans may be used for:   

• Decks  
• Kitchen Remodeling  
• Plumbing
• Bathrooms  
• Ceilings & Walls
• Garages
• Landscaping
• Room Additions
• Central Air & Furnaces
• Gutters & Roofs
• Paint & Carpeting
• Siding, Windows & Doors
  (excludes luxury items and appliances)

Pat Hanrahan, program coordinator states, “Over the last 5 years, HIP has been a tremendous success.  However, our goal is to fully utilize the funds that the county has made available for the program.  With that in mind, we have expanded the program’s scope to include commercial properties valued at less than $350,000.  We think this new option will be especially attractive to owners of properties in the neighborhood business districts of some of the county’s older communities.”  Since its inception in June 2002, over 1600 HIP loans have been made. The county has designated $28M in funds for HIP and there is still plenty of money available! According to Stephen Taylor, Vice President at US Bank, “the county and participating banks have made this program as uncomplicated as possible, and HIP is definitely the smartest way to finance home improvement projects, big or small.”

How it works:

Loans at 3% below market rate, 5 year term, loans from $1,500 to $50,000

• Only one outstanding loan at any given time
• Available in participating Hamilton County communities (all except Arlington Heights and Milford)
• No income minimum or maximum (must be able to meet bank's credit requirements)
• For new projects only – cannot be used to re-finance existing loans or for previously completed work
• One and two-family homes and commercial properties must have an assessed value less than $350,000 (based on Hamilton County Auditor's appraisal)
• No property value limit on multi-family dwellings (three or more units)
• For owner-occupied and rental dwellings
• Can also be used for code violation compliance and property upgrades

Once work has been completed, the property owner simply has to make a phone call to the contact person for his or her community.  An appointment is scheduled to view the completed project.  Once the work has been verified, the process is complete.

Many homeowners are now using the HIP Loan Program to complete energy efficiency improvements and taking advantage of the continuing payback in the form of reduced energy costs.  Roger Doyle of Colerain Township recently installed a new HVAC system and replaced the windows in his basement.  Doyle states, “I wanted to lower my heating costs.  I did not want $500 bill any longer.  We look forward to lower heating bills this year.”

How to Apply:

Visit a branch of any participating bank-

• Fifth Third Bank: Call your local branch office
• First Safety Bank: Call 513-242-SAFE (7233)
• Key Bank:  Ryan Kern  513-474-3169
• National City Bank: Call your local branch office
• North Side Bank: Call your local branch office
• PNC Bank:  Rea Walden  513-651-7532
• US Bank:  East Side - Jennifer Lux  513-475-6060
• West Side - Stephen Taylor  513-389-4205

*Rates and other loan terms can vary from bank to bank

For additonal information please click on the the link here.