We are posting this at the suggestion of our SAC Vice President.

This is a great opportunity if you are a homeowner and have been trying to figure out how to do your home improvments:

Pa. offers low-interest home-improvement program

HARRISBURG - The Pennsylvania Housing Finance Agency yesterday announced a new low-interest loan program for homeowners who want to borrow money to pay for home repairs and renovations. The Keystone Renovate and Repair Loan Program also will offer guidance on matters including how to select a contractor and how to determine if work was done correctly.

The program, which begins in November, will offer below-market, fixed-interest rates on loans of up to $35,000, payable over 10, 15 or 20 years.

The homeowner must have an income of 150 percent of the area median or less and must live in the home to be repaired or renovated. In addition, the homeowner must not owe past-due property taxes and cannot borrow more than 120 percent of the home's value.

Loan applications go to local agencies, such as county housing and redevelopment authorities, community development corporations, municipalities and nonprofit lenders. To find out about local program administrators, call the Pennsylvania Housing Finance Agency at 800-822-1174. The agency's Web site is www.phfa.org. - AP