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Heritage Home loan program sees renewed interest in Bay Village; KeyBank main lender offering 2% fixed loans
Summary
Heritage Home Program manager Jasmine Brzenkowski told council the program helped 11 homeowners sign loans in 2024; for 2025 year‑to‑date the program has eight loans signed, 78 homeowner inquiries and nine site visits. Eligibility requires properties built in 1975 or earlier.
Representatives of the Heritage Home Loan Program presented annual and year‑to‑date statistics to Bay Village council on Monday, saying the program is generating homeowner interest and helping finance home repairs.
"Last year we had 241 connections with homeowners," Jasmine Brzenkowski, Heritage Home Program manager, told the committee. She said program staff completed 68 site visits and provided 25 instances of technical assistance in 2024; 11 homeowners signed loans last year. For 2025 to date the program recorded 78 homeowner inquiries, nine site visits, seven technical assistance events and eight loans signed, with six active applications in process.
Brzenkowski outlined local lender partners and loan terms. KeyBank participates with no household income limits and an advertised 2 percent fixed rate offered for five to 10 years depending on loan size; Brzenkowski said borrowers work with the program manager to determine loan term. Third Federal offers a 4.999 percent product and has an income threshold (about $77,000 household income), she said.
Eligibility and typical projects
Brzenkowski said primary eligibility includes owning a home at least 50 years old (built in 1975 or earlier). Loan projects completed in 2024 included interior remodels, garage rebuilds, new roofs, exterior painting and at least one mold remediation project, she said.
Why it matters
Council members praised the program as a tool for preserving older housing stock and aiding homeowners who need financing for necessary repairs. Staff asked council to keep the program visible on the city website so residents can find contact information easily.
Quotes
"It's been a really strong start to the year," Jasmine Brzenkowski said of 2025 program activity in Bay Village.
"KeyBank has no income limits... it's a 2% fixed rate between 5 and 10 years," Brzenkowski said, describing the lender partnership.
Ending
Council thanked the Heritage Home Program staff for the presentation and asked that program contact information be posted on the city's website to increase awareness.
