Rehabilitation Loans
Residential Lending: Neighborhood Housing Services of New Haven has a Revolving Loan Fund to assist homeowners with improvements and upgrades to their homes. It is NHS’ expectation that loans from this fund will be provided to borrowers who have demonstrated a need for assistance, have made a commitment to improving their homes, and have committed to repay their obligations. Loans may also be made for the purpose of providing downpayment assistance for first-time homebuyers who are unable to obtain alternative downpayment assistance.
Investor Lending: Because NHS of New Haven is working in areas where there is an extensive investor presence, it has become apparent that a program is needed to motivate these investors to upgrade their properties. An investor loan product is being developed that will accomplish this, thereby contributing to a holistic approach to the revitalization of specifically targeted neighborhoods.
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