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  • 121 Sixth Avenue, Suite 501, New York, NY 10013
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What is SCHAP?

The Parodneck Foundation’s Senior Citizen Homeowner Assistance Program (SCHAP) provides financial assistance to homeowners who are living in physically deteriorated housing. The program, which has been in operation since 1986, provides no- and low-interest loans and extensive technical assistance to qualify homeowners. This support enables homeowners to retain their homes and improve their living conditions, thereby helping them avoid financial insolvency, displacement, and/or loss of independence. Since 1986, SCHAP has assisted over 2,000 homeowners (see map for locations – SCHAP Loans 1986-2024). Loans do not exceed $20,000.

Aging in place is the decision to remain in your home and community as you get older.

It can be a way to maintain independence, stay connected to loved ones, and avoid the cost of moving to a retirement home or assisted living facility.

Financial Relief:

SCHAP offers affordable loan programs to help seniors cover the costs of necessary home repairs, reducing financial burdens.

Safe and Secure Aging:

SCHAP helps NYC homeowners maintain safe and secure homes by providing critical home repairs and modifications

More About SCHAP

Expanding beyond its original focus on seniors, SCHAP now empowers a diverse range of homeowners, reflecting our commitment to creating equitable housing solutions for all. By tackling the unique challenges faced by homeowners across the city, the program strengthens neighborhoods, preserves housing stock, and fosters resilience. Through SCHAP, the Parodneck Foundation continues its mission to uplift communities and ensure that every homeowner has access to the resources they need to thrive.

 
 
 

What is SCHAP

Our Programs

HOME FIX



APPLY FOR HOME FIX

SCHAP

Ramp-Deck-After-Construction



APPLY FOR SCHAP

WHO IS ELIGIBLE FOR ASSISTANCE THROUGH SCHAP?





To be eligible, homeowners must reside in any of the five boroughs in the City of New York, be at least 60 years old, and have been an owner-occupant of a one- to four-family home for at least two years. Also, be current with their mortgage loan and NOT have a reverse mortgage on their home.

**We have expanded this program to include non-senior homeowners but have limit funding.

 
 

Parodneck Amortizing Loan Fund (RLF)

This product includes low-interest (3%) repayment loans that can be used to cover the costs of home improvements. This loan is repaid monthly over a ten-year (120 months) period. Borrower pays an origination and loan-processing fee of 3% of the principal amount; they remain fully responsible for all applicable recording fees.

Parodneck 10-year Deferred Loan

This product includes interest-free loans, origination and loan-processing fee of 3% of the principal amount for home improvement. Upon the 10th year (120 months) loan anniversary the loan is to be repaid in full.

Affordable Housing Corporation (AHC)

Grant amount is leveraged with one of the above listed loans. For households with less than 112% of Area Median Income; terms vary based on loan amount (2, 5 or 10 years)

 

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