As a not-for-profit citywide self-help organization, NHSNYC is comprised of resident, business and government representatives. It promotes revitalization by building the capacity of people to help themselves through education and other social services necessary for stable and vital neighborhoods. Through our lending arm, NHSNYC revitalizes neighborhoods by offering low interest loans for purchases and refinances as well as downpayment and closing cost assistance loans to creditworthy existing or prospective individuals not able to obtain financing through traditional financial lending institutions.

Mortgage Programs

Our first mortgage program assists homebuyers purchasing in the five boroughs of New York City providing lending opportunities to prospective buyers purchasing Mitchel lama cooperatives, HDFCs, Condos and 1-4 family properties. A minimum 20% downpayment is required on all programs with a maximum combined loan-to-value of 105%. This allows layering of any of the grants we currently offer to be used with any of our loan products. The minimum FICO score required is 620 on most of our loan programs, 640 on others, and no more than 43% of your income can be towards your total mortgage payment and monthly expenses. The maximum income limit for our loan program is $134,310. All of our programs have a 30 year fixed rate loan term.

Down Payment Assistance Loan

This program is designed for those prospective clients who are purchasing a home and do not qualify for one of our grants, but still need Downpayment and Closing Cost Assistance. We offer these loans up to $65,000 with a 15 year repayment term for all property types anywhere in NY State. The income limit for this program is $117,970.

Our easy to complete loan application is available online by using the following link:

The entire application process is fully automated from application to closing with the ability to sign and upload documents.