Morrisville, NY CORE Federal Credit Union and Home HeadQuarters, Inc. have announced a new low rate home improvement program for Madison County Homeowners. The credit union has made an initial pledge of $2.5 million dollars in project capital to support a unique Home HeadQuarters loan program for Madison County Homeowners.
On hand for the announcement were a number of village and town officials, Assemblyman Bill Magee and a representative from Senator David Valeskys office.
The program allows loans up to $20,000 with a term up to 10 years and provides a broad range of qualifying projects including repairs or improvements to roofs, siding, bathrooms, kitchens, windows, heating and cooling systems, as well as other interior and exterior home improvements. Work on garages and barns, as well as mobile homes and double-wide houses on property owned by the homeowner also qualify for financing.
Unlike many other loan programs, the Home HeadQuarters program does not have an income cut off so all Madison County Homeowners are eligible to apply for the loan program. In addition, the program focuses on community revitalization, so no appraisal or formal equity requirements apply, making these loans extremely accessible to all qualified homeowners.�� The flexibility of the program will benefit homeowners, whether they complete the work themselves or hire a contractor.
CORE Federal Credit Union located in Morrisville is coordinating the program for Home HeadQuarters.
"We are happy to help bring this program to Madison County," said Credit Union CEO Bill Sweeney. "We have already had conversations with county residents who are excited about having a new affordable option for making the improvements they need to their homes. We see many situations where the program could help, from a couple who may be purchasing their first home and have little to no equity available for home improvements, to seniors who may be on fixed incomes but need a new roof or windows to make their homes more efficient."
"We also know that people will seek out local contractors and suppliers for help on their projects, �so the impact of the program will spread beyond homeowners and have a larger impact for the county, Sweeney added.
"We are excited about working with CORE to provide such a worthwhile program in Madison County," said Kerry Quaglia, Executive Director of Home HeadQuarters. "Partnering with CORE helps us to get the word out about this exciting new program through COREs many community connections, and provides us a central location in Madison County for information and applications on the program, so homeowners will not have to come to Syracuse for loan processing."
Anyone interested in more information on the program can contact the Credit Unions Morrisville office at 684-3009.
CORE Federal Credit Union has three locations in Morrisville, East Syracuse, and North Syracuse.
