In response to the devastation and damage that Hurricane Sandy has done to our local communities, AAFE Community Development Fund is launching a new emergency home repair loan program for homeowners in New York City.<\/p>\n
Eligible items to be repaired through this loan include:
\n– Replace\/ repair damaged roof
\n– Replace\/ repair damaged window\/entry door
\n– Boiler replacement \/ repair facade
\n– Other repair items will be assessed on a case-by-case basis<\/p>\n
Loan Maximum: $20,000
\nLoan Minimum: $5,000<\/p>\n
Terms: 1 to 5 years. No prepayment penalty<\/p>\n
Interest Rate:
\n4% Annum
\n3% Annum for seniors over 62 years and disabled
\n3% Annum if repairs are conducted by certified green specialist<\/p>\n
Credit: 620+
\nIncome Limit: None
\nProperty Eligibility: 1-4 family homes<\/p>\n
Location Limits: 5 boroughs of New York City<\/p>\n
Required Documents:
\n– Complete loan application
\n– ID (government issued with photos)
\n– Proof of ownership (Deed)
\n– Proof of damage(s) (before pictures)<\/p>\n
Expiration Date: December 15, 2012<\/p>\n