Emergency Loan Programs – Step 3: The Loan Process

If your Loan Officer determines that you qualify for the loan, instruct your contractor to submit directly to your NHS Loan Officer their license, Liability Insurance and Workers Comp Insurance. Upon approval of your loan, your Loan Officer will notify you of the closing. At the closing you will agree to the repayment terms of the Emergency Loan and authorize NHS to pay your contractor on your behalf from the loan proceeds. When your contractor has completed the work, NHS will perform a final inspection. Once the NHS Construction Services department indicates that the work is complete and the borrower signs off on the payment, the contractor is paid 90% of the project costs. 30 days later the contractor will receive the remaining 10%.

Emergency Loan Programs – Step 1: Gather Documents

Gather the documents below to prepare your loan application:

NHS Emergency Loan Program Document Checklist

1-4 Owner Occupants Emergency Loan

  1. Proof of Ownership
  2. Proof of Income
  3. Proof of Homeowner’s Insurance (declaration page)
  4. Most recent Real Estate Tax, water and sewer Statement
  5. Non-refundable Application Fee
  6. Contractor’s estimate
  7. Other items as requested

5-20 Residential and Mixed-use Buildings

  1. Proof of Ownership
  2. DHCR Rent Registration Summary
  3. Federal Income Tax Return including Schedule E for Individual Owners
  4. Financial Statement including Income and Expense Statement for Corporations and Partnerships
  5. Certificate of Incorporation/Partnership (if applicable)
  6. Most recent Real Estate Tax, water and sewer statement
  7. Non-refundable Application Fee
  8. Proof of Homeowner’s Insurance
  9. Copy of any Mortgage /Note or Satisfaction of Mortgage
  10. Other Items as requested

Emergency Loan Programs – Step 2: Make an Appointment

Emergency Loan Programs – Step 2: Make an Appointment

Request an appointment to make your application with one of the locations below.

NHS of Bedford Stuyvesant
NHS of East Flatbush
NHS of the North Bronx
NHS of the Northern Queens
NHS of the South Bronx

At your appointment the Loan Officer will determine your eligibility for the loan and coordinate your next steps Please remember to bring the documents listed above to your appointment including a work estimate from a licensed and insured contractor. Some projects may require our Construction Services Department to conduct site inspections, prepare a scope of work, schedule payments to the contractor and issue certificate of completion.