Emergency Repair Loan

In this often unpredictable world, many New Yorkers have found it difficult to afford emergency home repairs that are essential to a safe and comfortable living environment.

Families living in older buildings are especially susceptible to problems like electrical malfunctions, inoperative heating systems, or dilapidated interiors. These conditions are not only against city building codes but may also pose a direct risk to families living in them.

To help home owners in need of such repairs, AAFE Community Development Fund has developed this program to provide a resource for low to moderate-income residents to make emergency repairs needed to keep a home suitable for immediate occupancy. This loan product offers up to $15,000 for repairs with interest rates as low as 3%.

Loan Purpose: To cover the costs of emergency repairs on owner occupied homes, especially for seniors, the disabled, and families living with the disabled.

Interest Rate: 3%

Eligibility

To qualify for the loan, a prospective client must meet all of the following criteria:

  • Own a 1-4 family home, a condominium, or a cooperative for owner-occupancy in one of the five boroughs of New York City.
  •  Meet the income eligibility requirements. 

How can I apply?
If you are eligible and would like to apply please Contact Us or
call (212)-964-2288.