Our Housing Services department provides a variety of services for homeowners and first-time homebuyers, including below-market home improvement loans, down payment assistance, mortgages, and forclusure prevention services. Spanish interpretation is available for some services.
Northfield Community LDC assists clients with obtaining below market rate home improvement loans. We work with the City of New York to preserve, protect and increase your valuable investment (your home) through affordable loan products and services that offer rates as low as 2.5%.
Down Payment and Closing Cost Assistance Programs
We help our clients qualify for down payment and closing cost assistance programs. Qualified first time homebuyers may be eligible for financial assistance or down payment loans that will enable them to achieve the American dream of homeownership.
Down Payment Assistance Loans
Avoid PMI (private mortgage insurance). You may be required by a lender to make a PMI payment (in addition to your homeowners insurance) every month until you reach 22%-23% equity in your home. You may eliminate the need to make PMI payments by borrowing up to 20% of your down payment
HPD HomeFirst Down Payment Assistance Program
In order to qualify for the grant, you must:
Northfield Community LDC works with a number of New York City financial institutions to secure an appropriate mortgage product for your needs. Counselors provide one on one assistance with the preparation and completion your mortgage application.
Homebuyer Education Course
Thinking about buying a home? Every future homeowner should attend our 8 Hour First Time Homebuyers Class. This class is mandatory for our HomeFirst clients. Our course will take you through the entire home buying process. The curriculum covers the following subject areas:
Northfield Community LDC is a community not-fo-profit dedicated to helping you remain in your home. Our foreclosure counselors will educate you about foreclosure alternatives and on how to stop the foreclosure proceeding. We are dedicated to helping you work out a plan with your lender. Don’t hesitate to contact us. We protect our clients from predators looking to take advantage of their situation.