Zero-Interest Emergency Loan
The Neighborly Fund is more than just money. It’s a commitment to our neighbors over the long-haul. If you are a Niagara County homeowner who has been directly affected by COVID-19, scroll down to learn more and start the application process.
Help for Homeowners Impacted by COVID-19
In the face of a global pandemic, millions of our neighbors, like you, are at risk of going without pay for an extended period of time. Our deferred, zero-interest loan is available to homeowners in Niagara County to help take the pressure off in the short-term, while you figure out what to do next. In order to do this, NeighborWorks® Community Partners now offers deferred, zero-interest loans from $1,000 up to $3,500* for homeowners directly impacted by COVID-19. And the best part? What you pay back will be paid forward by putting it back into the Neighborly Fund to help neighbors, like you.
*Monthly minimum payment is $100/month spread across 35 months. As funding is available. Terms apply.
Eligibility & Terms
You currently own –
- a home or duplex (owner-occupied)
- a unit in a cooperative or condominium (owner-occupied)
- Mixed-use property is ineligible
- No Manufactured Housing
- Owner-Occupied Homeowners only
- You must reside in Niagara County
How you can use the funds:
- Home expenses that can no longer be paid as a result of financial hardships due to COVID-19
- To pay your mortgage, homeowners insurance, utilities, and other costs related to the costs of homeownership
- Other related expenses such as car payments, food purchase, etc.
- Loan-only product no to be combined with other NCP funds
*Not to be used for leisure products, vacations, or gambling
Household Income Eligibility:
- No Income Limits
- Incomes below HUD median New York State income $85,000 are a priority
Total Debt Ratio: N/A
Maximum Total Loan to Value: N/A
Interest Rate: Zero Percent
Fees: No Fees
Credit Profile/Information you will need to submit:
- Documented hardship such as a layoff, furlough notice, or unemployment filing due to COVID-19, past due utilities, or mortgage due to COVID-19 hardship
- Proof of homeownership
- An official credit report will be run (at no cost to you)
- Prepare to submit a 1099 or W2 for 2019 to verify past income
- Signed Credit Report Authorization form (no minimum credit score required)
- Signed Borrower Certification Authorization Form
- Consent to Receive Documents Electronically Form
- Other documentation may be requested
*NOTE: If you are a current borrower with NCP, you must be current on your loan.
Click here to view the full list of documents
you will need to submit
Minimum/Maximum Loan Amount for Homeowners:
- $1,000 minimum
- $3,500 maximum
Loan Term/Lien Position:
- Promissory Note
- 90-day deferral, $100 monthly payments until balance reaches zero (up to 35 monthly payments)
Settlement: One-time payment in full to homeowner upon executed promissory note. Terms apply.
How to Apply:
- If you are a homeowners facing hardship due to COVID-19, scroll down to start the application process online (Suggested for faster review)
- Click here to download and print an application. Please note that it may cause a delay in review and funding is limited.