Loans for Closing Costs and Home Improvement

Whether it's buying a home or improving your home, we'll work with you to make it a smooth process.

The Enterprise Center at PathStone’s residential lending helps homebuyers with downpayment and closing cost assistance. Taking the leap from renting to owning can be a challenge. We help you bridge the gap.

We also provide home improvement loans for owner-occupied homes. Take pride in your home and make the improvements you know it needs. Whether you want to improve its energy efficiency, address a safety concern, or make your space feel more like home, we’re here to help finance your plans.

Loan Products

Closing Cost Loan

You've found your dream home, but are a bit short on funds. We can help fill that gap.


  • Loan amounts from $2,000 to $5,000
  • 1-5 years term
  • Interest rate is the same as the first mortgage rate
  • Requires homebuyer education through a HUD-approved agency.

Home Improvement Loan

Looking to make your existing home more energy efficient or comfortable? We can help.


  • Loan amounts up to $15,000
  • 1-5 years term
  • No credit score minimum, no income limits
  • Energy-related repair interest rate: 4%
  • Nonenergy-related repair interest rate: 6%

Steps to apply for a loan

1. Contact our loan officer

You'll start off by contacting our loan officer to help determine the best options available to you and assist you through the process.

2. Gather Documents

We'll guide you through the process of collecting all of the documents required to submit a completed application.

3. Submit Loan Application

You've successfully gathered all of your required documents and completed your application. Now it's time to turn it in!

4. Closing

If your loan has been approved, congratulations! It's time to get moving. Meet with us for closing and disbursement.

Documents Required

For Closing Cost Loan

  • 1003
  • Credit Report- 3 trade lines paid on time 12 months old (Recent) and/or Alternative Credit Sources (4 sources with no VOR) 680 or below
  • Federal Tax Returns and W2’s for the past two years. NOTE: If you did not file, or need duplicates, contact the IRS at (800)829-1040. **NYS returns NOT REQUIRED**
  • Paystubs for the last 30 days
  • Last 2 Months of Bank Statements for all accounts. *MUST HAVE your name, bank name, and account number on the statements*
  • Child Support: Court order or copies of checks (if applicable)
  • Letters of Explanation
  • Separation Agreement or Divorce Decree (if applicable)
  • Any other documentation needed for approval
  • Verification of Rent and Verification of Employment
  • Purchase Offer and all addendums
  • Appraisal and Flood Certification (doesn’t need to be sent in with items on checklist
  • Homebuyer Education Certificate
  • Client email address
  • Bank Attorney contact information
  • Bank commitment letter (doesn’t need to be sent with items on checklist)

For Home Improvement Loan

  • Year-to-Date Profit and Loss statement (Self-Employed Only)
  • Paystubs for the last 30 days
  • Last 2 Months of bank statements for all accounts. *MUST HAVE your name, bank name, and account number on the statements*
  • Copy of Driver's License or State ID
  • Credit report fee: Please submit $12.82 for 1 person and $25.76 for 2 people. (Check or Money Order ONLY)
  • Application Fee $150 SUPPLEMENTAL DOCUMENTS
  • SSI / SSD Award Letter: from 2020 for you or anyone in the household (if applicable)
  • Bankruptcy Paperwork: Complete copy including discharge (if applicable)
  • Divorce Decree/Separation Agreement (if applicable)
  • Child Support: Court order or copies of checks (if applicable)
  • Copy of current mortgage statement and current deed (Rehab loans only)
  • Current Property Tax Bills and Homeowners Insurance Policy (Rehab loans only)
  • 3 estimates for rehab work

Ready for change?

Today can be your day!

If all that’s holding you back is money, let us help you move forward.

Our team is here to answer your questions and help you access the funds you need to close on your new home or improve your existing home.

New York

All paperwork/documents can be emailed to:

Application can be mailed to:
PathStone Enterprise Center, Inc.
400 East Ave. Rochester, NY14607

Attention: Jay Elmore (585)340-3387