Home Buying in 10026>Question Details

longquansi513, Home Buyer in New York, NY

all low income coop belong to HDFC, is there other organization which can provide low-income coop

Asked by longquansi513, New York, NY Tue May 21, 2013

Help the community by answering this question:


HDFC means Housing Development Funding Corporation. It is not an organization. Merely a building that was converted with help of the city to a coop. Once it becomes an HDFC coop, there is a Regulatory Agreement which stipulates the income guidelines and other related matters.
HPD regulates these HDFC buildings and the amount of buildings is growing. You can check the website for current lotteries and other interesting news about these buildings.

1 vote Thank Flag Link Tue May 21, 2013
HDFC's are one type of low-middle income co-op in NYC. They are the most common. Many have financial issues but if you are willing to think outside the box and work to help a community grow, these can be great homes for working people. You need to make sure you are represented by a broker and a lawyer who are familiar with these properties. Asking the right questions is half the process.
0 votes Thank Flag Link Tue May 21, 2013
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