NHS Jamaica

OTHER LOANS
Debt Consolidation Rehab Loan

This loan, for owner-occupied, residential one-four unit buildings in New York City, enables you to consolidate your debts, and have funds available to take on a rehab project. The maximum amount is $80,000, of which no more than 40% can be spent on consumer-related debt. Real estate-related debt can go up to 80% of the total loan amount.

NeighborWorks Loans

This loan, for owner-occupants or first-time purchasers of one-four unit residential buildings, can be used to obtain a mortgage to purchase; to purchase and rehab; or to refinance and rehab a home. Loans are available for terms of up to 15 years, and there are no income limits. The maximum loan is $300,000.

NeighborWorks Loans

NHS provides loans for renovation to owners of multifamily and mixed-use properties of up to 20 units. Renovations can be moderate or expensive, funded by loans from $75,000 to $800,000. Typical improvements include replacement of plumbing, electric and heating systems, roofs, windows, doors, kitchens and bathrooms. We can also provide financing for complete gut-renovation of small buildings.

In addition, NHS can help with referrals of experienced, licensed and insured contractors and architects. In all cases, we provide evaluations of the necessary scope of work, construction prices and contract documents. Typically, the borrower pays interest only during the construction phase, after which the loan is converted to an amortizing term, usually 15 years, at a fixed interest rate. In some cases, the loan term can be longer.

For more information, please call (212) 519-2530.

The NY State Small Building Owners Emergency Loan (Landlord One)

Landlord One provides $5,000 to $20,000 emergency loans at a 1% interest rate for multifamily buildings with 5 to 20 units and for small mixed-use buildings. The New York State Housing Finance Agency subsidizes these loans, which are intended to pay for essential repairs such as boiler or roof replacement, building entrance doors, intercom systems, windows, fixing code violations or life and safety issues.

For more information about Multifamily/Mixed-Use Loans and Landlord One loans, click here.

For more information about other loans contact the NHS office nearest you.