New York, New York · Loan
Homes for the Future
Run by Center for New York City Neighborhoods and Sustainable Neighborhoods LLC (CDFI)
Homeowners in New York City and Long Island can borrow up to $85,000 at a fixed 3.75% rate for home repairs, including heating, roofs, water heaters and energy efficiency upgrades, over 10 or 15 years.
Amounts
How much you get
Fixed-rate 3.75% subordinate mortgage loan of up to $85,000, with a 10- or 15-year term (your choice). Fees: $850 origination and $925 inspection. Repaid if you sell or refinance.
Eligibility
Do I qualify?
You need to meet all 5 of these.
Your home is in New York, New York.
Pre-existing one- to four-family home, condominium or co-op in New York City or on Long Island.
You must live in the home as your primary residence.
Credit and debt limits: minimum 660 FICO score, back-end debt-to-income up to 50%, combined loan-to-value up to 95%.
You choose your own contractor and get a bid; the program sends a construction inspector.
What to doGet a written bid from a contractor before applying. Get a quote from a contractor
Equipment
What equipment counts
Applying
How to apply
You apply online.
- Choose your own contractor and get a bid (price).
- Apply online at sustainableneighborhoodsny.org or call 800-255-8080.
- Close on the loan; a subordinate mortgage is recorded.
- Work is done and checked by the program's construction inspector.
The flyer says you pay for two inspections during the work.
Forms and instructionsHomes for the Future flyer and term sheet
Stacking
Use it with
Your address
Next steps
Check that it covers your address. Then, if you want, ask for a contractor quote.
Is it available at your address?
Before anything else
Your quote request is in If a contractor we work with serves your ZIP, they can contact you. We take one request per person; contact us to change it.
Get an email if this program changes
We'll write if its amount, status or deadline changes. Nothing else.
FAQ
Questions
How much does Homes for the Future pay?
Up to $85,000 loan.
Do renters qualify?
You must live in the home as your primary residence.
Do I have to use a contractor?
Yes. You choose your own contractor and get a bid; the program sends a construction inspector.
Is it still available?
Yes. It was open when we last checked, on October 26, 2026.
Plain words
Words used on this page
References
Sources
This page is built from these official pages, run by the program itself.
- Homes for the Future flyer and term sheet
- Sustainable Neighborhoods: Our Lending Products (Homes for the Future)
When one of these pages changes, we re-check this page against it.
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Checked Oct 26, 2026