Frequently Asked Questions

Who Are You?

Q: What does CPC do?
A: CPC offers construction, rehab, and refinancing loans to developers of multifamily investor-owned housing in New York.

Q: Are you a non-profit?
A: Yes, we are a not-for-profit mortgage lender.

Q: Is CPC exclusively non-profit?
A: We also have a for- profit subsidiary, CPC Resources, which provides equity and does development.

Q: OK, but I see a large list of banks as your participating institutions. How does that work?
A: We have member banks that supply lines of credit that we use to finance properties in low, moderate and middle-income communities.

Q: What distinguishes you from the standard commercial banks?
A: CPC can finance difficult-to-finance properties that might not otherwise qualify for standard bank financing -- such as very small properties and properties that may need subsidies. We also work closely with new developers, giving them the support they need to be successful.

Can You Help Me?

Q: Where do you lend?
A: Throughout New York State in low, moderate and middle-income communities.

Q: What's the minimum loan?
A: No minimum.

Q: What's the maximum loan?
A: No maximum.

Q: What's an average sized loan someone like me could expect to be eligible for?
A: It depends on your project, your experience, and your financial history. There is no loan that is too small or too large because the projects we finance are all very different.

Q: What are your rates?
A: We have a variety of rates depending on the product. They are typically at the market.

Q: Do you finance mixed-use properties?
A: Yes

Q: What size building do you finance?
A: Two units minimum (for smaller properties, we can finance the new construction or rehab of one-to-four family homes that are investor-owned, not owner occupied). No maximum.

Q: Can I get a loan to renovate a commercial space?
A: Yes, under certain circumstances. Please contact a regional mortgage officer to discuss your property.

Q: Can I get a personal home loan?
A: No. CPC only finances multifamily investor-owned housing.

Q: Do you give grants?
A: No. CPC is a market-rate, not-for-profit mortgage lender.

Q: Do you give loans on properties/projects that receive government assistance?
A: Yes, we make loans on government-subsidized projects often. We partner and cooperate with government at all levels

Q: My property seems to have issues attached: an environmental factor, a lien. Will CPC work with me?
A: Yes, we are experienced at working with developers to overcome barriers.

Q: Do you develop properties?
A: Yes, through our for-profit subsidiary CPC Resources, Inc. (CPCR). CPCR will either joint venture with a private developer or serve as developer for a fee.

What's Your Special Expertise?

Q: What makes you different?
A: CPC gives our borrowers technical assistance and support from start to finish, to make sure that a project goes smoothly and cost-effectively.

CPC is particularly skilled at working with new developers who have little prior experience in real estate.

Q: What can you do for a new developer?
A: We provide extensive hands-on technical support. This includes finding contractors, helping with third party reports, and consulting on the project through all stages of development.

How Can I Get More Information?

Q: Can you answer my question?
A: Go to Contact Us and send an email with your question. We'll get back to you with the answer.

Q: How can I see if CPC is interested in working with me?
A: To contact a regional mortgage officer in the area that your project is located, click here.

Q: How can I learn more?
A: To learn more, click here.