Home Improvement Loan

Are you finding it difficult to make needed repairs to your home?
As many Long Island homes continue to age, maintenance and upkeep need to be done. The question becomes how to pay for those repairs. Community Development Corporation of Long Island has available low-interest home improvement loans for eligible Long Island homeowners. We will help to identify the repairs, contract with licensed contractors to get the best prices, and finance the cost of repairs up to $25,000. Community Development Corporation of Long Island and NYS Affordable Housing Corporation is also providing deferred loans to eligible Long Island homeowners, so inquire today! Loans can be used to make the following types of repairs:

  • Electrical
  • Plumbing
  • HVAC
  • Energy Efficiency Measures
  • Structural and Health & Safety Measures

CDCLI will manage the process, bid out your job with reputable contractors, and get you the fairest price.  If you decide to have CDCLI manage your construction, there is a fee.

Loans are for a period of 15 years and can be paid off in advance with no prepayment penalty. All loans will be secured with a note and mortgage. Interest rates vary between 3% or 5%, based on household income in relation to the Area Median Income (AMI). Please call us for details before applying!

Contact Information:
Homeloan@cdcli.org
(631)-471-1215 ext. 151 or 193

We are a not-for-profit exempt mortgage banker.  Loans are arranged through third-party vendors. CDCLI Funding Corporation is a Fair Housing and Equal Opportunity, Lender.

 

 

 

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