448-50-St.-Nicholas-Ave.-.1About HDFC

In the 1970s hundreds of city-owned buildings in the neighborhood were abandoned by private landlords and later converted to Housing Development Fund Corporations (HDFCs). Since then, home ownership for low- and moderate- income people throughout New York City has been primarily in the form of HDFCs or limited-equity cooperatives (co-ops), where sales prices are restricted in order to maintain affordability. But despite the affordability of this housing, many low and moderate income people in the area lack the access to credit and information necessary to be able to become home-owners.

Any HDFC building in New York City is eligible to become an HDFC member of the credit union and participate in our HDFC Lending and Services Program.

HDFC Lending and Services Program offers:

  • Individual and HDFC LoansB112
  • Insurance Premium Finance Loans
  • Affordable rates and accessible terms
  • Fast application process
  • Personalized service
  • Knowledge about New York City HDFC law and codes
  • Improvement on existing terms and conditions of your mortgage
  • Building-wide improvements with a Co-op Corporation loan
  • Rent Management Service, at a very affordable rate
  • Remote Deposit Capture, for check deposit onsite

Please review our  HDFC Lending and Services Program Summary for more details and if you have any questions please contact Alfonsina Morel – NMLS# 1467908, our HDFC Loan Specialist, at 212-529-8197 ext. 115,

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