In partnership with the Parodneck Foundation, HPD administers the Senior Citizen Homeowner Assistance Program (SCHAP) to assist low- and moderate-income seniors in making necessary home repairs in order to improve living conditions and prevent housing from physical deterioration. A maximum of $40,000 is available for single-family homes. For homeowners of two- to four-family homes, a maximum of $30,000 per dwelling unit is available.
To qualify, a senior must reside in any of the five boroughs in the City of New York, be at least 60 years old, and have been an owner-occupant of a one- to four-family home for at least two years. Homes must have property and liability insurance. Applicants' household incomes, including rental income, must meet certain guidelines. The loans vary from no-interest deferred loans to fully amortizing 3% interest loans.
The McCoys' Story
The McCoys, a couple living in Queens, inherited their two-story home in the early 1980s. There were many issues with their home, but they could not afford to pay for the repairs. With time, the roof began to leak when it rained. Much of the siding had fallen off and needed to be replaced. The walkway became a hazard to pedestrians. The McCoys applied to SCHAP and qualified to receive a deferred no-interest loan that helped them install new siding, a brand new roof, doors, a working bathroom, and much needed repairs to their home. As a result, they now live in a safe place that they are proud to call home.
To learn about the requirements, loan process, and services SCHAP offers, or to request an application, please call the Parodneck Foundation at (212) 431-9700, ext. 313.