• Agency: NYS Homes and Community Renewal (NYS HCR)
• Status: Currently Available

Second Mortgage Subsidy Loans are available to developers receiving construction or permanent financing from the New York State Housing Finance Agency (HFA). Subsidy Loans are subordinate, low-interest rate loans available to projects that require subsidies to maximize the number of affordable units and to reach lower income or special needs populations. A Subsidy Loan may be used in conjunction with subsidies provided by other federal, state, or local agencies.