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Loan Cost Calculator

Whenever you borrow money, focus on the total cost of a loan, not just the monthly payments. And make sure you understand all the terms, including those in the fine print. Then run your numbers through this calculator before you sign on the dotted line.

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What is the Neighborhood/Home Revitalization Loan Program?

It is low interest equity loan program for homeowners in central city Toledo, including the Cherry Legacy neighborhood, to make infrastructure improvements and vital repairs to their homes.

Are borrowers able to take cash out from their homes through this loan?

No, all funds are paid directly to the contractors doing the work.

What types of repairs can borrowers do for their homes using this loan program?

Repairs that are attached to the home. Roof replacement and repair; gutter replacement and repair; foundation & tuck work; waterproofing; window repair and replacement; floor repairs, insulation, siding installation, home rehabilitation, modernization, and renovation.

Do you have to be a member of the credit union to take advantage of this program?

To start the process, NO. However, borrowers will need to become a member prior to closing on the loan.

Is the program based on my credit score?

No, however, Toledo Urban Federal Credit Union will look at the borrower’s full picture to make a determination on approval and amounts.

Do I have to own my home?

Yes, borrower must own the home and the home must be owner occupied.

What Neighborhoods/ ZIP codes are eligible for the program?

Central City Toledo and Cherry Legacy– 43602, 04, 06, 07, 08, 09, 10, 20,

How long does this process take?

30-60 days application to finish

Is there an income limit for applying for the program?

The program will accept borrowers with up to 120% AMI (Area Median Income)

How much can I borrow against my home with this program?

The program allows you to borrow a maximum $20,000.


Who should I contact to apply for the program?

Warren Fleer or Monique Chapman

Toledo Urban Federal Credit Union

1441 Dorr Street

Toledo, Ohio 43607

419.255.8876  Reference “Home Revitalization” in the subject line


City of Toledo Roofing Program FAQ (Coming Soon!)

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