Rehab Loans


NHSNYC has over three decades of experience in helping property owners repair and upgrade their properties. Our Lending department continues to help homeowners and small landlords (owners of small multi-family buildings) preserve and stabilize NHSNYC neighborhoods house by house and block by block, regardless of their income level. NHSNYC provides affordable financing through loans and grants to address emergency repairs and moderate rehabilitation needs of eligible properties.


Our easy access online application process

  • Competitive fixed interest rates
  • Benefit from our Construction Services,
  • Our experienced and dedicated staff that is willing to assist you through the loan process
  • Work with licensed and insured contractors within New York State
NHSNYC Loan Programs:

NHSNYC provides resources to stabilize neighborhoods and has traditionally offered a number of Home Improvement loan and grant products to the owners of 1-4 family homes and 5-20 multi-family mixed-use buildings within New York City.

    • Emergency Loans

NHSNYC offers loans to owners of 1-4 family homes in the five boroughs of New York City. Owners do not have to occupy a unit to be eligible. Loans are available to homeowners with incomes up to 140% of the Area Median Income (AMI) or if the property is located within low-to-moderate income census tract areas.

    • Moderate Rehab Loan

This loan is for owners of 1-4 family residential properties, Cooperatives, Condominiums and mixed-use buildings within the five boroughs of New York City. Buildings can be owner occupied or owned by not-for-profits, investors, corporations or partnerships. Loan amounts are up to $120,000 to cover moderate to substantial rehabilitation. The work can include interior and exterior structural repairs, roofing, plumbing, electric, other major interior improvements, replacement of building-wide systems, elimination of code violations, upgrade vacant apartments, etc. Loans are available at a term of up to 20 years and at a fixed interest rate. Personal guarantees are required for all non-individual borrowers and all loans are secured by a mortgage or UCC1. A UCC1 filing is a legal form that a creditor files to give notice that it has or may have an interest in the personal property of a debtor.

    • Multi-Family/Mixed Used Loan

This loan is for owners of multi-family residential buildings with 3 to 20 units or mixed-use buildings with up to 20 units. Buildings can be owner occupied or owned by not-for-profits, investors or for profit corporations. All properties must be located within the five boroughs of New York City. The maximum loan amount is $99,000. Funds will be used to eliminate dangerous health and safety conditions in occupied units or to make unoccupied units habitable or to address moderate and substantial rehabilitation.

Here is how we can help meet your emergency repair and home improvement needs:

Log on to our Rehab website EFax # 646-383-9305 or call us at 212-519-2550

Complete the full application and also take the opportunity to learn more about our different loan programs.

Obtain 2-3 contractors’ estimates from licensed and insured contractors within New York State.

Gather the following documents you will need to complete your loan application:

Proof of Ownership

Proof of Income

Proof of Homeowner’s Insurance

Real Estate Tax statement

Most recent Utility receipts (water, electricity, gas, telephone)

2-3 Contractor’s estimates

Non-refundable application fee

If your Loan Officer determines that you qualify for the loan, instruct your contractor to submit directly to your NHSNYC Loan Officer their license, Liability Insurance and Workers Comp documents. Upon loan approval, your Loan Officer will notify you of the closing date. At the closing you will agree to the repayment terms of the Loan and authorize NHS to pay your contractor on your behalf from the loan proceeds. When your contractor has completed the work, NHSNYC will perform a final inspection. Once the NHSNYC Construction Services department indicates that the work is completed and the borrower signs off on the payment, the contractor will be paid according to the payment schedule signed by both parties.

To learn about our rehab loan program visit the website at: