News Article: Keyword Combination

By | Oktober 17, 2023

Contractors in NY now eligible for 203k Loan

In an effort to boost the real estate market in New York, contractors in the state are now eligible for the 203k loan program. With this new development, contractors can now take advantage of the benefits offered by the 203k loan to finance their projects and further propel the construction industry in the region.

The 203k loan program, administered by the Department of Housing and Urban Development (HUD), provides financing for the purchase or refinance of properties that require rehabilitation or renovation. This program allows contractors to borrow funds based on the after-improved value of the property, making it easier for them to secure the necessary funds to complete their projects.

Contractors in New York can find qualified lenders who offer the 203k loan for contractors. These lenders specialize in working with contractors and understand the unique needs and challenges they face in their line of work. With the help of these lenders, contractors can navigate through the loan application process and secure the funding they need to complete their renovation or rehabilitation projects.

By taking advantage of the 203k loan program, contractors in New York can not only boost their business but also contribute to the revitalization of the real estate market in the state. This program opens up new opportunities for contractors to take on more projects and enhance the value of properties in the region.

For more information about 203k loan contractors in New York, visit