HomeFix

About HomeFix

HPD's HomeFix Program, in partnership with the Center for NYC Neighborhoods (CNYCN) and their partners, Restored Homes Housing Development Fund Corporation, AAFE Community Development Fund (CDF), Neighborhood Housing Services of New York City (NHSNYC), and the Parodneck Foundation, provides a comprehensive place-based approach to addressing homeowner repair needs and other assistance. The program provides access to affordable low- or no-interest and potentially forgivable loans for home repairs to eligible owners of one- to four-family homes in New York City. HomeFix will offer loans up to $60,000 per home, with an additional $30,000 per additional rental unit, with an anticipated maximum loan amount of $150,000 for a four-family home, with a maximum loan amount as follows:

• 1 unit: $60,000
• 2 units: $90,000
• 3 units: $120,000
• 4 units: $150,000 

The loan terms may vary from low- or no-interest to fully amortizing from 0-5% percent interest, with favorable loan terms for low-income and senior households.

• HomeFix term sheet

Eligibility

To be eligible for the program, a homeowner must: 

• Own a one–to four-family home in any of the five boroughs in New York City; condos and co-ops are not eligible
• Occupy the home as their primary residence (primary residence is defined as residing in the home 270 days per year)
• Not own a second property within a 100-mile radius of New York City
• Must not have a reverse mortgage
• Have a household income that is no more than 165% Area Median Income (AMI):

Homeowners are eligible based on their gross household income and size, outlined below. To determine if a homeowner might be eligible, locate the household size in Column 1 (how many people live in the home) in the chart below and review the corresponding income in Column 2. A household’s gross household income cannot be more than 165% Area Median Income (AMI) or the dollar amount shown below in Column 2:

Eligible Repairs

The repairs must address building system(s) or housing deficiencies or conditions which may be hazardous to occupants/residents. The program partners will develop the eligible repair scope of work, which may include, but are not limited to, roof, heating system, hot water heater, electrical system, plumbing system, sidewalks/paving, accessibility measures to help seniors, energy efficiency upgrades, and more.

How HomeFix Works