Since June 1, 2009, Shorewood has been offering a “neighborhood improvement no interest loan program”. This is to meant encourage residence to take out loans through the village for home repairs and improvements. This two year program will help address condition of properties in need. There are four types of loans to borrow from and the pool of money for these loans consists of $346,500.

The four types of loans available to Shorewood residents are: down payments on a new home purchase, attic improvements, duplex conversions, and exterior maintenance.

Repayment of these loans will be deferred until the home is sold, refinanced or owner is not occupying. No income requirements exist to receive a loan, but loans will be determined by fair market values.

The pool of money comes from the tax payers money and it’s in the village reserve funds. If objectives are not met, the village board can cancel this offer.

North Shore Bank will administer the program. Contact the Shorewood Government for more details.

Don’t wait while money is still in the pot!