The Landlord One Loan Program, sponsored by the New York State Housing Finance Agency and administered by the Neighborhood Housing Services of New York City, offers low interest rate loans to owners of properties consisting of 5-20 units. The loans are used to repair and/or renovate apartments to keep properties in habitable condition.
There is a maximum loan amount of $20,000.
The program offers a 5-year, 1% interest rate loan, or an annual percentage rate (APR) of 1.84%. For example: if you borrowed $10,000 for five years, your monthly payment would be approximately $170.
Loans may be used to:
Low interest rate
A Construction Services Manager who will prepare a scope of work, conduct inspections for scheduling of payouts to contractors and issue a certificate of completion
Based on expertise, you can repair or renovate your property yourself and use program funds to pay for materials
For more information on this program, visit the NHS website at www.nhsnyc.org or visit one of the office locations listed below.
Neighborhood Housing Services of NYC |
Manhattan HomeOwnership Center |
NHS of Jamaica |
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NHS of Northern Queens |
NHS of Bedford Stuyvesant |
NHS of the North Bronx |
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NHS of East Flatbush |
NHS of the South Bronx |
NHS of Staten Island |
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Last updated: 11/14/2008 6:13:36 PM