Bay Village Heritage Home Program

Adds New PNC Financing Benefit for Homeowners

If you own an older home in Bay Village and have been considering renovations, repairs, or updates, there’s a local program worth knowing about.

The Heritage Home Program, administered by the Cleveland Restoration Society, already provides Bay Village homeowners with resources designed specifically for maintaining and improving older homes. Now, homeowners have another financing option to consider after PNC Bank joined the program as a lending partner.

According to the City of Bay Village, homeowners referred through the Heritage Home Program who qualify for eligible PNC Home Equity products can receive a 0.5% interest-rate discount when those funds are used for qualifying Heritage Home Program projects.

For homeowners facing a major renovation — or simply trying to decide how to tackle the next project on an older home — that makes the program worth a closer look.

What Is the Heritage Home Program?

The Heritage Home Program is a regional program operated by the Cleveland Restoration Society to help owners repair, maintain, and preserve older homes.

Bay Village participates in the program, giving eligible homeowners access to technical assistance as well as financing opportunities for qualifying projects.

The technical-assistance component is particularly useful because renovating an older home isn't always the same as renovating newer construction. Homeowners may need to determine how to repair an original feature, evaluate contractor recommendations, understand appropriate materials, or figure out the best way to approach a larger project.

The Cleveland Restoration Society describes the Heritage Home Program as providing homeowners with technical assistance, financing resources, and educational support for maintaining older properties.

What's New for Bay Village Homeowners?

The City of Bay Village announced on August 17, 2026, that PNC Bank is now a Heritage Home Program lending partner.

Under the new arrangement, homeowners referred through the Heritage Home Program who apply for qualifying PNC Home Equity products must still meet PNC's lending requirements.

Those who are approved can receive a 0.5% rate discount on eligible PNC Home Equity products used for qualifying Heritage Home Program projects.

It's important to make the distinction that this isn't an automatic 0.5% reduction available to every Bay Village homeowner. Homeowners must go through the Heritage Home Program, the project must qualify, and the borrower must satisfy the lender's requirements.

Who Qualifies for the Heritage Home Program in Bay Village?

There are several eligibility requirements homeowners should understand before planning a project.

Generally, the program requires:

• The property to be located within a participating community, including Bay Village.
• The home to be 50 years old or older. Bay Village officials stated in April 2026 that homes built in 1976 or earlier are currently eligible, with additional homes becoming eligible as they reach the age requirement.
• The property to be residential.
• The property to contain three dwelling units or fewer.
• The homeowner to have sufficient available equity for the proposed financing.
• Work financed through the program generally cannot already have started.
• The Heritage Home Program loan can be a first or second lien on the property, but not a third.

Both owner-occupied homes and qualifying non-owner-occupied rental properties may be eligible.

Individual lending requirements can vary, so homeowners should confirm their eligibility directly with the Heritage Home Program before making financial decisions or beginning construction.

What Types of Renovations Can Qualify?

The program is intended to help homeowners repair, maintain, modernize, and preserve older properties.

Bay Village reported that homeowners using the program in 2025 financed projects including interior remodeling, garage repairs, roofing, siding, structural repairs, and mechanical and plumbing updates.

There are also projects that aren't eligible for Heritage Home Program financing. Examples identified by the program include:

• New or replacement vinyl siding or vinyl windows
• Luxury improvements such as swimming pools and hot tubs
• New decks and patios
• Landscaping

Additions may require additional review to determine whether the proposed work is compatible with the existing home.

Because eligibility depends on both the property and the specific project, homeowners should verify that their planned renovation qualifies before work begins.

Bay Village Homeowners Are Already Using the Program

This isn't a program that exists only on paper.

During an April 2026 Bay Village City Council meeting, Heritage Home Program representatives reported that the program had contact with more than 288 Bay Village homeowners during 2025.

That year, the program conducted 64 site visits, provided 16 technical assists, and 13 homeowners ultimately signed loans for projects.

Activity continued into 2026. At the time of the April presentation, representatives reported 38 homeowner contacts, three site visits, and 11 loans already signed.

Those numbers suggest there is meaningful local interest in resources specifically designed for maintaining Bay Village's older housing stock.

Thinking About Renovating Before Selling Your Bay Village Home?

This is where homeowners should separate two different questions:

Can I make this improvement?

and

Should I make this improvement before I sell?

They aren't always the same thing.

If you're planning to stay in your home for many years, a renovation may make sense simply because it improves your enjoyment of the property.

If you're considering selling in the near future, however, the calculation changes.

Spending $20,000 on a renovation doesn't necessarily mean your home will sell for $20,000 more. Some improvements can have a meaningful impact on buyer perception and marketability, while others may provide little return when it comes time to sell.

Before undertaking a major renovation, it can be helpful to understand:

• Which features buyers currently prioritize in Bay Village.
• Whether repairing something is more important than replacing it.
• Which cosmetic updates could improve the home's presentation.
• Whether buyers would rather make certain improvements themselves.
• How your home compares with recently sold and competing properties.
• Whether the likely increase in marketability justifies the cost of the project.

Sometimes the smartest pre-sale renovation is a major update. Other times, relatively inexpensive repairs, paint, lighting, landscaping cleanup, or strategic staging can make more sense.

And occasionally, the best decision is to leave a project alone and let the next homeowner make it their own.

Before You Start Renovating

The addition of PNC Bank gives qualifying Bay Village homeowners another potential financing option when considering improvements to an older home.

But financing is only one part of the decision.

If you're considering renovations because you expect to sell your Bay Village home within the next few years, it's worth looking at the project from a real estate perspective before you start spending money.

I can walk through the property with you, look at how your home compares with the current Bay Village market, and help identify which improvements are most likely to matter to buyers — and which ones may not be worth the investment.

That way, you can make your renovation decisions with both your home and its future resale value in mind.

Program requirements, loan products, interest rates, and eligibility guidelines are subject to change. Homeowners should confirm current requirements directly with the Heritage Home Program and the applicable lender before beginning a project or making financial decisions.