The NYC Homeownership Network

Black, Indigenous and People of Color (BIPOC) are locked out of the homeownership market due to a variety of systemic barriers. We aim to change this through the network.

THIS PROGRAM IS BROUGHT TO YOU BY

About

The New York City Homeownership Network (NYCHN), led by Local Initiatives Support Corporation NY, Neighborhood Housing Services of NYC, and The Center for New York City Neighborhoods, tackles barriers to creating and preserving homeownership for BIPOC individuals. Funded by Wells Fargo’s WORTH Initiative, NYCHN’s partners focus on key areas: The Center manages the TOPA/COPA database, LISC NY oversees the NYC Homeownership Network, and NHS NYC handles the Open Access Fund.

We aim to support 5,000 BIPOC residents of New York City to create and preserve housing by the end of 2025.

OUR SERVICES

With decades of experience supporting New York residents with housing counseling, legal services, down payment assistance, and financial coaching, NYC Homeownership Network will work with you to build stability and security for your family. We offer the following services:

Homeownership Education

 

  • Program Description
  • Eligibility Requirements
  • First-time Homebuyer Education

    Technical
    Assistance

     

    • Financial Education Seminars
    • Legal Counseling
    • One-on-One Coaching
    • Credit Counseling
    • Referral to brokers and appraisers

    Lending

     

    • Prequalification
    • Mortgage Assistance & Information
    • Down Payment Assistance
    • Closing Cost

    Preservation

     

    • Home Repairs
    • Foreclosure Prevention
    • Loan Modification
    • Property Tax Assistance
    • Title and Deed Transfer

    MORTGAGE CALCULATOR

    On this screen, please input all information fields, for a preview of what you most likely could afford as a mortgage. This is an estimate, and actual monthly affordability could be different based on lender.

    Mortgage Terminologies And Recomendations

    As a guidance, it is always good to consider your buying power being about 28% of your monthly gross income, OR, 36-43% or your gross monthly income that INCLUDES all other liabilities you have on a monthly basis. Choosing the right mortgage type depends on your financial situation, long-term goals, and personal preferences. Consider factors such as how long you plan to stay in the home, your ability to handle fluctuating payments (for ARMs), and your eligibility for government-backed loans. Consulting with a mortgage advisor can help you make an informed decision based on your individual circumstances. For purposes of this mortgage calculations, the 2 most common types of loan calculations will be used – Fixed or Variable
    As with any offering, there are multiple types of mortgages available in the market, all individuals will not qualify for all types.

    Terminologies

    Mortgages

    • Fixed-Rate Mortgages: Stability and predictability in payments.
    • ARMs: Lower initial rates but variable payments after the fixed period.
    • Interest-Only Mortgages: Lower initial payments with future payment increases.
    • Balloon Mortgages: Low initial payments but a large final payment.

    Loans

    • FHA Loans: Low down payment, flexible credit requirements, and mortgage insurance.
    • VA Loans: No down payment or PMI for eligible borrowers.  Have to be ex-military to qualify.
    • USDA Loans: No down payment for eligible rural areas.  Has to be in a RURAL area.
    • Jumbo Loans: For high-value properties, often with stricter terms.

    Recomendations

    Suggestions on paying off mortgages early are below. Again, each opportunity should be weighted for your unique financial situation;

    • Extra Payments: Make additional principal payments, biweekly payments, or round up your payments.
    • Refinance: Consider refinancing to a shorter term or a lower interest rate.
    • Apply Windfalls: Use tax refunds, bonuses, or extra income towards the mortgage.
    • Increase Payments: Adjust your budget to increase monthly payments.
    • Lump-Sum Payments: Make occasional large payments when possible.
    • Mortgage Accelerators: Check for lender programs that help accelerate payments.
    • Cut Expenses: Reduce unnecessary spending and redirect savings.
    • Maintain Home: Keep your home well-maintained to avoid unexpected costs.
    • Avoid New Debt: Minimize additional debt to stay financially flexible.

    Mortgage Calculator

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    Questions about mortgage terms? Check out our quick guide

    Please enter all the required information into the fields and then click the 'Calculate' button to view our recommendations and suggestions.

    Mortgage Finder of New York City

    Welcome to the Mortgage Finder of New York City page.  Please choose the borough of your choice below for a listing of all mortgage brokers operating and authorized for mortgaging in that borough.

    Mortgage LenderAddressZIP CodeBoroughe-mailPhone
    Marc Seligman505 White Plains10591Westchestermarc.seligman@bofa.com9146136608
    Patricia Strong898 E Veterans Memorial Highway11788Suffolkpatricia.strong@dime.com7187826200 x 5245
    Maria GuillenRego Park, NY11374Queensmaria.guillen@citi.com9177558718
    Youcef Dahli15116 84th St, Howard Beach11414Queens-3478361126
    Max Perez219-01 Jamaica Avenue, Queens Village11428Queensmax.perez@chase.com6463635457
    Carlos Morales94-05 63rd Drive, Regal Park, NY11374Queenscjmorales@valley.com917 968 8815
    Felix de la Cruz69-20 80th Street, Middle Village11379Queensfdelacruz@valley.com6462969789
    Elliot Epperson--Queenselliott.epperson@td.com3473661317
    Rafael Bellber437 Madison Avenue 18th Floor10173Mew YorkRafael.Bellber@Citizensbank.com9172704610
    Felix de la Cruz350 Park Avenue10022Manhattanfdelacruz@valley.com6462969789
    Ginny Chin275 7th Ave., NY, NY10001Manhattanginnychin@amalgamatedbank.com9172247521
    Adrian Intriago1 Broadway, NY, NY10004ManhattanAdrian.triago@citi.com347 330 7021
    Laura Kelly1 Huntington Quadrangle, Suite 1N16, Melville, NY11747Bronxlaura.kelly@dime.com6318568321
    Kira Guzman900 Stewart Ave., Garden City31152-kira.guzman@flagstar.com3474231622
    Alfred Pico--- Alfred.pico@wellsfargo.com9178361123
    Aubrey Nurse--- anurse@mtb.com6319428302
    Byron Logan---Blogan@mtb.com9146984022
    Darrin English---Denglish@quonticbank.com7182154085
    Duane Wright---dwright@mtb.com6464529837
    Erika Sanchez---erika.sanchez3@bofa.com3475473851
    Evette Monteith---emonteith@popular.com9178689915
    Greg Diaz---gdiaz1@mtb.com646 296 9190
    Jason Gajraj---jason.gajraj@chase.com718 9163181
    Jean Volcy---Jvolcy@unmb.com9142689336
    Jennifer Smith---Jennifer.L.Smith@citizensbank.com-
    Jewel Williams---jewel.r.williams@citzensbank.com8482487788
    Juan Cueto---juan.cueto@eastwestbank.com6467510531
    Maria Serravalle---Maria.Serravalle@bofa.com-
    Marian Ruiz---miriam.ruiz@flagstar.com9174063939
    Michael O´Leary---moleary@ridgewoodbank.com3475631046
    Michelle Bage---michelle.bage@citi.com-
    Miriam Ruiz---Miriam.Ruiz@flagstar.com9174063939
    Patrick Cronin---Pcronin1@mtb.com-
    Ricardo Perez---r.perez@citi.com347 337 1059
    Samuel Ward---samuel.d.ward@wellsfargo.com3473106862
    Shaun Sproul---shaun@cliffcomortgage.com5164087300
    Shawn Kelly---shawn.kelly@eastwestbank.com9295033704
    Tenise Sang---tenise.sang@chase.com347 806 5938
    Travis Bowens---tbowens@cmghomeloans.com8456561718
    Valerie Tyler---Valerie.tyler@citi.com3472660735
    Victoria Purcell CD---Victoria_a_purcell@keybank.com8454833010
    Yvon Ponce DeLeon---yponcedeleon@ridgewoodbank.com3478342265
    Duane D. Wright277 Park Avenue10172dwright@mtb.com6464529837

    OUR PROCESS

    Becoming a homeowner can be an overwhelming process. And, no two journeys are alike. Our experienced network members will meet you where you are at.

    Obtaining
                Information

    Track 1: Obtaining Information — no timeline to buy:

    NYCHN Support Offered: Educational Resources

    ✔ General homebuyer resources including fact sheets and tool kits on relevant topics

    ✔ Training opportunities for practitioners (policy briefings, best practices) and prospective homeowners

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    Actively seeking
                pre-qualification

    Track 2: Actively seeking pre-qualification/ pre-approval prior to home search — 6-12 months out from purchase

    NYCHN Support Offered:

    ✔ One-stop shop for first-time home-buyer counseling scheduling amongst network participants

    ✔ Database of mortgage options for buyers to ‘shop’ from

    ✔ Direct connection to down-payment assistance through linkages to housing counselors

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    Pre-approval
                obtained and viewing
                properties

    Track 3: Pre-approval obtained and viewing properties with intent to purchase in 0-3 months.

    NYCHN Support Offered: Professional support directories

    ✔ Directory of affordable focused marketing agents affordable focused legal counsel home inspectors and homeowner insurance providers

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    Current
                homeowner focused on
                stabilization of asset

    Track 4: Current homeowner focused on stabilization of asset

    NYCHN Support Offered: Post Purchase Stabilization Resources

    ✔ General resources including fact sheets and tool kits

    ✔ Training opportunities for practitioners (policy briefings, best practices) and existing homeowners

    ✔ Directories of repair financing options, financial coaching and loan modification services

    WHY THE NYC
    HOMEOWNERSHIP NETWORK?

    Many BIPOC families and individuals in New York City are struggling to afford or preserve homeownership. The NYCHN provides referrals to neighborhood services in all five boroughs. Services are available to all New York City residents interested in owning or preserving their home.

    Owning a home is one of the most important steps you can take on the road to financial stability and building wealth, but it’s becoming increasingly out of reach for too many BIPOC families.

    Owning a home is one of the most important steps you can take on the road to financial stability and building wealth, but it’s becoming increasingly out of reach for too many families.

    We believe the pursuit of homeownership should be available to all, regardless of background, current income or financial standing. Each homeownership journey begins with education, support, and access to resources.

    EVENTS GALLERY

    PARTNER FIRST TIME
    HOMEBUYER SCHEDULE

    Harlem Congregations fo Community Improvement Inc

    Virtual

    Free

    English - Spanish

    HCCI offers a free virtual 4 - part seminar series on Thursday evenings from 7:00 - 9:30 p.m. The series starts the first Thursday of the month and goes through the fourth Thursday of the month. The Spanish sessions are offered on Tuesdays and Thursdays from 7:00 - 9:00 p.m. on the third and fourth weeks of the month.

    Chhaya CDC

    Virtual

    Free

    English

    Chhaya offers a free, virtual two-part First Time Homebuyer class. Registration is not required. Both sessions need to be completed for the certificate to be rewarded. Topics covered include How to decide if owning a home is right for you; Myths and truths about homeownership; Understanding equity; Resources for downpayment assistance.

    NHS NYC

    Virtual

    Free

    English - Spanish

    A 5-hour course taught on a Saturday, covering information that all first-time homebuyers should know in order to make well-informed decisions and become an empowered and educated consumer. Courses are led by a certified NHSNYC Homeownership Counselor and include presentations by experts such as loan officers, real estate lawyers, home inspectors, real estate agents and home insurance agents. Key topics include: credit requirements, effective money management techniques and overviews of the mortgage application and home buying processes. Graduates from this course receive an NHSNYC Homeownership Education Certificate.

    Bronx NHS

    Virtual

    Free

    English

    Monthly 1.5 hour courses.