Home Improvement Program

The Home Improvement Program (HIP) offers loans of up to $30,000 to correct substandard conditions such as masonry repairs, roofing, plumbing repairs, boiler/furnace replacements, and electrical rewiring. Depending on the size of the loan, you may also be able to make other improvements such as painting, replacing kitchen cabinets, and installing storm windows.

Who is eligible to apply?

HIP loans are for owner/occupants of one- to four-family homes located throughout the City. All applicants must meet bank underwriting standards as well as have their annual household income meet eligibility guidelines.

How does the loan work?

The loans are either 2.5% or 5% interest, depending on your income, and are payable over a maximum of 10 years.

The program requirements are:

  1. You must remain living in the home as your primary residence through the 10 years.
  2. You must complete the repairs for which the loan was intended, as verified by an HPD inspection and/or checks or money orders documenting the cost of the completed work.
  3. You must not refinance your home for an amount in excess of your existing mortgage.

How to apply?

Complete a HIP Loan Application and mail to  the participating bank below:

  • Brooklyn Cooperative Federal Credit Union
    1474 Myrtle Avenue
    Brooklyn, NY 11237


Contact HPD at homerehabloan@hpd.nyc.gov or (212) 863-6700. We will be happy to further discuss the program and guide you through the process.