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.
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?
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.
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.
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.