Home Renovation Loans in New York
Home Renovation Loans in New York
Program: This program is designed for Borrowers who need to finance the renovation or expansion of a property they currently own or plan to purchase. Non-Owner Occupied properties allowed.
Home renovation loans in New York — Normandy provides renovation financing for borrowers upgrading, expanding, or improving a residential property they own or plan to purchase. Whether your project is in New York City, on Long Island, or Upstate, our renovation construction loans are available for both owner-occupied and non-owner occupied 1–4 family properties.
New York’s older housing stock — from pre-war buildings and brownstones in New York City to historic homes throughout the Hudson Valley and Upstate communities — drives some of the strongest renovation financing demand in the country.
Home improvement loans through Normandy: loan amounts from $95,000 to $5,000,000, up to 85% of appraised value for owner-occupied conforming amounts. Borrower may act as own GC. Foreign nationals eligible.
Call 800-390-7536 or visit https://normandy.com/renovation-loans/ for home renovation loans in New York. All Normandy loan programs: https://normandy.com/.
General Guidelines*
- Loan amounts from $95,000 to $5,000,000
- Loan amounts up to 85% of the appraised value on single family, owner occupied, full income documentation, conforming loan amounts up to $832,750. Loan amounts over $1M, up to 80% of appraised value may be considered. Cross collateralization allowed on other properties, if needed, for maximum or greater loan amounts.
- Lender will advance up to 75% of the purchase price towards the acquisition of a property
- Foreign Nationals are eligible for this program
- Deal directly with the Loan Officer/Underwriter
- Fast pre-qualification, typically within 3 – 5 business days, closing typically within 30 days (fast track closings in 14 +/- days available if certain criteria is met)
- Loans are available to Borrowers with excellent to less than perfect credit (subject to underwriting)
- Flexible draw schedules
- 1 to 4 family homes, refer to Commercial Construction for more than 4 units
- 12 month construction term with extensions available
- Interest only payments based on funds advanced
- Borrower may act as own General Contractor or hire a qualified builder. No site supervisor required.
*All rates and terms subject to change without notice
New York Construction Market & Regulatory Overview
New York offers one of the most diverse residential construction markets in the country — from dense urban infill and brownstone renovation in New York City to suburban new construction on Long Island and in Westchester, and rural custom building throughout the Hudson Valley and Upstate New York.
Building Code: New York State Uniform Fire Prevention and Building Code, plus the NYC Construction Codes within the five boroughs.
Permitting: Permits are issued through local municipal building departments outside New York City; within the five boroughs, permits go through the NYC Department of Buildings (DOB). Construction must comply with the applicable state or NYC code depending on location.
Key construction considerations in New York include cold winters and frost-line foundation requirements Upstate, coastal storm exposure on Long Island and in NYC’s outer boroughs, and dense urban construction constraints within New York City. Normandy’s underwriting team works directly with borrowers — you deal with the loan officer and underwriter, not a call center.
Contractor & Licensing Requirements in New York
Outside New York City, contractor licensing requirements are set at the county or municipal level — Westchester, Nassau, and Suffolk Counties each maintain their own licensing boards. Within NYC, contractors must be licensed by the NYC Department of Consumer and Worker Protection (DCWP) for home improvement work.
Owner-Builder Note: New York allows owner-builders to act as their own contractor for a primary residence in most jurisdictions outside NYC, though local building departments should be consulted directly. Within New York City, owner-builder rules are governed separately by the DOB.
Loans Available in the Following States
Owner Occupied
Loans available for owner occupied properties in the following states:
- California (CA)
- Connecticut (CT)
- Delaware (DE)
- Florida (FL)
- Iowa (IA)
- Massachusetts (MA)
- Michigan (MI)
- North Carolina (NC)
- New Jersey (NJ)
- New York (NY)
- Oregon (OR)
- Rhode Island (RI)
- Virginia (VA)
- Washington (WA)
Non-Owner Occupied
Loans available for non-owner occupied properties only:
- Alaska (AK)
- Alabama (AL)
- California (CA)
- Colorado (CO)
- Connecticut (CT)
- Delaware (DE)
- Florida (FL)
- Georgia (GA)
- Hawaii (HI)
- Iowa (IA)
- Idaho (ID)
- Indiana (IN)
- Kansas (KS)
- Kentucky (KY)
- Massachusetts (MA)
- Michigan (MI)
- Maryland (MD)
- Maine (ME)
- Missouri (MO)
- Mississippi (MS)
- Montana (MT)
- North Carolina (NC)
- New Jersey (NJ)
- Nebraska (NE)
- New Mexico (NM)
- New York (NY)
- Ohio (OH)
- Oklahoma (OK)
- Oregon (OR)
- Pennsylvania (PA)
- Rhode Island (RI)
- South Carolina (SC)
- Tennessee (TN)
- Utah (UT)
- Virginia (VA)
- Washington (WA)
- West Virginia (WV)
- Wyoming (WY)
Frequently Asked Questions — Home Renovation Loans in New York
Q: What are home renovation loans in New York?
A: Home renovation loans in New York are financing for renovating, expanding, or improving a residential property you own or are purchasing. Normandy disburses funds in draws as work progresses. Interest-only payments apply during the 12-month term.
Q: What are renovation construction loans in New York?
A: Renovation construction loans in New York through Normandy cover kitchen remodels, bathroom additions, structural expansions, and full property renovations. Loan amounts from $95,000 to $5,000,000. Up to 85% LTV for owner-occupied conforming amounts.
Q: What are home improvement loans in New York?
A: Home improvement loans in New York through Normandy are available for both owner-occupied and non-owner occupied 1–4 family residential properties. Borrowers may act as their own GC — no site supervisor required.
Q: Can I use home renovation loans in New York for non-owner occupied properties?
A: Yes. Normandy’s renovation construction loans and home improvement loans in New York are available for both owner-occupied and non-owner occupied 1–4 family properties. Call 800-390-7536 for LTV specifics.
Q: Can I be my own contractor for home renovation loans in New York?
A: Yes. Normandy’s home renovation loans in New York allow borrowers to act as their own General Contractor. No site supervisor is required. You may also hire a qualified builder. Confirm your project qualifies before applying.