City of Centerville Home Enhancement Loan

City of Centerville Members: We CHELP in your future!

HELP is on the way for Centerville, OH homeowners interested in adding a room, remodeling a kitchen or bath, or changing living space by knocking down a wall or converting a garage. That's because Day Air Credit Union and the city have partnered to begin a new program called HELP - Home Enhancement Loan Program.

This is aprogram that will provide homeowners -who qualify- with a home improvement loan that's 2.5% below Day Air's standard home improvement rate. The City of Centerville will buy down 2% of each loan, and we'll offer an additional ½% off the city program loans.

"Currently, we offer a great rate on our home improvement loan. Another 2.5% rate deduction is a fantastic opportunity for the members of the community and Day Air," states Day Air's President/CEO, William Burke.

City of Centerville HELP program
Loan details and qualifications:

• A total discount of 2.5% will be granted for this loan (i.e. If the qualified rate is 5.50%, the discount associated with this program will bring the rate down to3%).
• This is a 10-year, fixed rate loan (there are no pre-payment penalties).
• Loan amounts must be between $10,000 and $50,000
• Total Household income cannot exceed 80% of Centervilles median income.
• Examples of projects that would qualify for this program include:
  • New/remodeled kitchens or baths
  • Remodeling of attics or garages into living space
  • Purchase of Energy Star Products
  • Other projects that expand living space (i.e. room additions), etc.
• Examples of projects that would not qualify for this program are:
  • New roofs, furnace, electric, or plumbing (unless they are part of a larger project)
  • New driveways and decks/porches
  • Recreation facilities such as: swimming pools, tennis courts, basketball courts, etc.
  • Detached garages/Outdoor sheds or accessory buildings
  • Lawn maintenance and new landscaping
  • Repair or replacement of sidewalks, curbs, or drive approaches
• If you are not a Day Air Credit Union member, you will need to join the credit union upon loan approval. All Centerville residents are eligible to join.
• Those who qualify and receive a loan will have up to 12 months to complete the work.  If the project is not complete in 12 months, the rate will increase.

• Homeowner's insurance
• Proof of household income - all household members over the age of 18
• Written estimates of work to be done and/or estimates of materials needed

In addition to the extra ½% rate reduction by Day Air, we are not charging any: Application, appraisal and title exam fees.

Costs involved are:

• County recording fee ($80).
• Flood zone review ($11).
• If you are not a member of Day Air, there is a $5 deposit required for your membership share.

If you'd like to speak with a Day Air Loan Professional, please contact us at:
937-643-2160.