New York City Housing Preservation & Development Loans

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This notice is to let contractors and interested parties know about the repair loans offered by the City of New York.

Full details can be found at

Repair Loans

HPD offers eligible homeowners a variety of low-interest loans for moderate to major home renovations. Sometimes, these low-interest funds are combined with financing from a lending institution to provide a low-cost loan tailored to the owner's needs.

Home Improvement Program (HIP): Developed in cooperation with private banks and credit unions, HIP loans of up to $30,000 are made to owner/occupants of one- to four-family homes located throughout the City who wish to improve their properties. The City provides a grant which reduces the bank's interest rate to 2.5% or 5%, depending on the borrower's income.

Contact: (212) 863-6429
Home Improvement Program Loan Application (in PDF)


Neighborhood Housing Services (NHS): In partnership with Neighborhood Housing Services of New York City, this program provides the following direct, low-interest home improvement loans to owners of one-to four-family homes in the five boroughs.

  • Emergency Repair Loans: loans up to $10,000 to correct health and safety-related emergency situations such as roof leaks, water main breaks or heating system repairs of the subject building in the five boroughs.
  • Revolving Loan Fund (RLF) Core Loans: loans for large repairs and renovation of the subject building in selected neighborhoods.
  • HIP Options Loans: loans made to homeowners who have been turned down for a city-sponsored Home Improvement Program loan due to their insufficient income or credit history.

Contact (NHS): (212) 519-2500


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