Hi Margaret! I believe, as long that your new home will be your primary residence and you meet the income restrictions of a particular coop, you should be able to purchase HDFC apartment. The income restrictions are based on area median income standards, and in many cases either less than 120% or 165% area median income. Therefore, specific buildings will have different income requirements depending on the location, as well as on the size of a family.
When buying this type of property, the purchaser has to be approved by the board the same way as in a regular coop, and generally buyers should not pay more than 30% of their gross income in housing costs (including maintenance, loan payments, and insurance).
When buying HDFC coop, one should also be aware of a flip tax (varies for different coops) payable by the seller, which is a way of sharing the profit made on sale of the coop apartment with the coop. I have access to all Manhattan listings and would be glad to be of any assistance with your apartment search and finding a suitable financing.
Elena 646 593 7207