As a federally certified Community Development Financial Institution (CDFI), NHSNYC offers affordable loans for the purchase of homes, down payment and closing costs assistance, refinancing, and home improvements. Eligible properties include 1-4 family, multi-family (up to 20 units), condos, and cooperatives (including Mitchell-Lama and HDFCs) within the New York metropolitan area. Minimum required FICO score of 620.
To apply, contact Marita Bankhead at 212-519-2534 or email: lending@nhsnyc.org.
LENDING
Refinance/Purchase Money
- 105% Total Loan-to-Value Max
- Minimum Loan Amount $20,000
- Minimum 620 FICO
- Up to 30-Year Fixed Rate term
- Income Based or Census Tract Based
Down Payment Closing Costs Loan
- Up to $65,000 Max
- Up to 15-Year Term
- 95% Total Loan-to-Value Max
- Minimum 620 FICO
- Income Based or Census Tract Based
Down Payment Closing Costs Grant
- Up to $10,000 Max
- 5-Year Term
- Minimum 620 FICO
- NHSNYC Purchase Money financing required
- Income Based or Census Tract Based
REHAB
Rehab
- 95% Total Loan-to-Value Max
- Minimum Loan Amount $20,000
- Minimum 620 FICO
- Up to 20-Year Fixed Rate term
- Income Based or Census Tract Based
NHS and AHC 60/40 Grant Rehab
- 95% Total Loan-to-Value Max
- Minimum Loan Amount $20,000
- Minimum 620 FICO
- Up to 20-Year Fixed Rate term
- Grant Amount Up to 60% of the Total Rehab Cost (Max Grant $35,320)
Income Based or Census Tract Based
- New York (Manhattan) / Brooklyn / Bronx
- Rehab-Debt Consolidation
- 95% Total Loan-to-Value Max
- Minimum Loan Amount $20,000
- Minimum 620 FICO
- Up to 20-Year Fixed Rate term
- Debt Consolidation up to 30% of the Total Loan Amount
- All debts must be paid in full/closed out
- Income Based or Census Tract Based
- Financial Counseling required