InfoKwik Kansas City Area News

Thinking of updating your old house? Need a break from the financial crisis? Now is a great time to invest in your home. With falling home values and fewer credit options, homeowners are searching for improvement projects that will not only beautify their home but will offer the best return on their investment. 

The City of Liberty, along with the Mid-America Regional Council's First Suburbs Coalition, has partnered with CommunityAmerica Credit Union to offer a low-interest, fixed-rate home equity loan program to the residents of Liberty through 2009. The program was designed to offer simple, low-interest loans to homeowners who want to make improvements to their older or outdated homes. 

A home equity loan is a fixed-rate loan with a one-time cash advance. Applications for a home equity loan through this program can be made over the phone in a few minutes. Residents must meet CommunityAmerica's lending standards in order to qualify for the loan.

About the program:

*  Rates through this program are 1% below CACU's regular

   fixed rate home equity loans.

*  Loans may be requested in any amount from as little as   

   $2,500 up to $30,000.

*  Terms are for 10 years or less.

*  The home must be owner-occupied.

*  The tax-assessed value of the home must not exceed

   $250,000.

Funds can be used for exterior improvements such as painting and repairs or a new garage; or, for interior projects, such as updating kitchens, new master suites or extra bathrooms that will add convenience and value to your home. 

In addition to the benefits that homeowners realize from this program, it also provides Liberty and its residents vital financing opportunities that will help improve the community's housing stock to attract new residents, encourage current citizens to remain, and revitalize the sense of place and pride in the community.  

This program is available throughout Liberty and Clay County. Remember that if you live in a historic district, any exterior alterations are subject to review by the Historic District Review Commission. Call the City's Preservation Office at 439.4537, or go to www.ci.liberty.mo.us/preservation for information about historic review. Please check with the City's Building Division for information regarding any necessary permits before you begin any remodeling project.

For information on building permits and inspections, call the City's Building Division at 439.4534.

For more information about this program, or to apply for a loan, call CommunityAmerica at 913.905.6629 and mention the First Suburbs Home Equity Loan program.

For ideas on how to remodel your home, check out the First Suburbs Coalition's Idea Book at www.marc.org/firstsuburbs/planbook.htm