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Housing Services

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.

Home Improvement

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:

  • Purchase a 1-4 family home for owner occupancy in one of HPD's Homeownership Zones in Manhattan, Brooklyn, the Bronx, Queens or Staten Island
  • Grant must be used towards down payments or closing costs
  • Successfully complete the 8 hour Homebuyer Education Course with Northfield Community LDC
  • Contribute part of your own savings towards down payment or closing costs
  • Purchase a single-family home for a maximum of $303,800 or a two-to four family home for a maximum of $464,100
  • Occupy the property as your primary residence
  • Be a first time homebuyer with a maximum annual income of $50,250 for a family of four. Maximum income varies according to family size. Please refer to the table below.
     
    • Family Size Maximum Household Income
    1-person household
    $39,700
    2-person household
    $45,350
    3-person household
    $51,050
    4-person household
    $56,700
    5-person household
    $61,250
    6-person household
    $65,750
    7-person household
    $70,300
    8-person household
    $74,850

Mortgages

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:

  • Budget: Participants learn the importance of budgeting. Receive great budgeting tips that will help you prepare for homeownership.
  • Credit: Maintaining good credit and understanding your credit report is covered in this course. Learn how to read your credit report and how to dispute incorrect items on your credit report. Find out what lenders are really looking for.
  • Shopping for a home: Learn about the role of the real estate broker in the home shopping process. This course will cover the pitfalls of shopping for a home. Learn how to pick your ideal agent, shop for a home inspector, and spot potential disasters though visual inspection of a property.
  • Obtaining a Mortgage Loan: Northfield Community LDC provides you with the terminology you need to understand your lender. Learn how to shop for a mortgage and spot hidden fees. Our course covers the loan application, lending statements and closing documents.

Forclosure Intervention

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.
address bar for Northfield Community LLDC 160 Heberton Avenue, Staten Island, New York 10302 phone number (718) 442-7351 fax (718) 981-3441