Resiliency Repair Loan for Homeowners

Loan Purpose: To assist NYC homeowners repair their homes due to damage from Hurricane Sandy.

Eligible items to be repaired through this loan include:
- Replace/ repair damaged roof
- Replace/ repair damaged window/entry door
- Boiler replacement / repair facade
- Other repair items will be assessed on a case-by-case basis

Loan Maximum: $30,000

Loan Minimum: $5,000

Terms: 5 years. No prepayment penalty.

Interest Rate:
Zone 1: 2% for family with a combined income below $108,900

3% for family with a combined income over $108,900

All other areas:

3% for family with a combined income below $108,900

4% for family with a combined income over $108,900

3% Annum for seniors over 62 years and disabled

Credit: 620+

Income Limit: None

Property Eligibility: 1-4 family homes

Location Limits: 5 boroughs of New York City

Required Documents:
- Complete loan application
- ID (government issued with photo)
- One month pay stub & most recent federal tax return
- Proof of damage(s) (before pictures)

Download the Flyer: HERE

For more information on this emergency loan program and how you can apply, please call 718-961-0888 or e-mail us at info@miginc.net