Residential Lending


For First Time Homebuyers

Down Payment Assistance– A low interest rate loan for down payment and closing cost assistance is available for first-time home buyers to avoid Private Mortgage Insurance (PMI) whose income is no greater than 120% of the area median income (AMI) based on family size.

Down Payment Acquisition and Rehabilitation (DPA-Rehab)– Loan options for down payment and post-closing home repairs are available for first time homebuyers who need to acquire and improve the quality affordable homes on Long Island.

Voucher Homeownership Second Mortgages– Loans are available for Housing Choice Voucher recipients who want to transition from renting to owning a home. The financing option is the difference between the purchase price of the home and the first mortgage amount, less the down payment.

New York State Affordable Housing Program – A deferred loan for the down payment and post-closing home repairs is available for first-time homebuyers. The goal of this program is to improve the quality of decent, affordable housing for Long Island homebuyers.

For Existing Homeowners

Cesspool or Septic System Replacement and Retrofit Loan – This loan product is for the installation of a new high-tech or Retrofit System. *The system cannot be the same as the traditional cesspool.

Septic System Replacement Loan (Suffolk County Program) – To further CDCLI’s mission of increasing investment in neighborhoods, protecting the assets of homeowners, and protecting the environment, a low-interest rate loan product with zero application fees, and zero closing costs is now available to assist with the installation of a Suffolk County approved septic system replacement!

Home Improvement Loan – Offers low interest home improvement loans to eligible Long Island homeowners. Our professional housing specialists will identify needed repairs and select vetted and licensed contractors through a formal bidding process.

Emergency Home Repair – Type of repairs that are covered include, but are not limited to: Hot water heater; Heating system; Roof repair (due to leak); Wind damage (due to storm); Tree removal; Termite treatment or damage; Broken window(s); Removal of an oil tank; Chimney repair; and Basement leaks.


More Lending Opportunities

Smart Move – High housing costs can make it hard for first time homebuyers to save for a down payment. SmartMove loans help bring total payments in line with a family’s budget by offering a second mortgage at a low fixed rate.

Manufactured Home – In collaboration with Home HeadQuarters, a nonprofit entity based in Syracuse, NY, CDCLI offers loan packaging for potential buyers looking to acquire a manufactured home.  


Contact Information:
(631)-471-1215 ext. 151 or 193

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