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Directory of New York City Affordable Housing Programs

Program (?) Senior Citizen’s Home Assistance Program
Alternative Name(s) Senior-Help Deferred/Forgiven Loan Program; Senior Help Repayment Loan Program; Predatory Lending Remediation Loan Program
Abbreviation SCHAP
Benefit Classification (?)  
Supply or Demand Demand
One-Time or Ongoing One-Time
Benefit Type (?) Financing
Government Agency (?) NYC Dept of Housing Preservation and Development,
Program Information (?)  
Scale Medium Scale (between 1,000 and 4,999 units produced)
Timeframe 1986-Present
Developer/Owners (?) Non-Profit, Owner-Occupant
Property Information (?)  
Property Occupancy Occupied
Property Type Building
Building Type One- to Four-family
Construction Type Rehabilitation
Occupant Tenure (?) Homeownership
Occupant Income Restrictions (?) Low-Income
Other Targeting Information (?) Elderly occupants over the age of 60
More Information NYC HPD
The Parodneck Foundation

HPD, in conjunction with the Parodneck Foundation provides several types of loans to benefit elderly homeowners through the Senior Citizen’s Home Assistance Program (SCHAP): the Senior-Help Deferred/Forgivable Loan Program, which provides interest-free loans that can be used to cover the costs of home improvements; the Senior-Help Repayment Loan Program, which provides low-interest (0-3 percent) repayment loans that can be used to cover the costs of home improvements; the Parodneck Foundation Revolving Loan Fund Program, which provides low-interest (0-6 percent) repayment loans that can be used for repairs or for payment of other fees; and the Predatory Lending Remediation Loan, which protects seniors who have been taken advantage of by a broker/mortgage company. Preference for all loan programs is given to seniors whose homes are at risk of foreclosure. To be eligible, owner-occupants must be over 60 years old and cannot have an income exceeding $52,800 for a one-person household, $60,300 for a two-person household, and $67,800 for a three-person household.

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