SONYMA provides capital to promote affordable homeownership opportunities for low and moderate income citizens of New York State.
The State of New York Mortgage Agency (SONYMA) offers mortgage programs to assist first-time homebuyers with the purchase of a home in New York State. Our mortgage programs feature low interest rates, low down payment requirements, flexible underwriting guidelines, and funds for down payment assistance.
We offer more favorable terms for veterans, National Guard and Reserve members, and active duty military. We also offer programs that enable borrowers to purchase a home and obtain funds to make repairs, and end loan financing for new construction. Each of these features is designed to make home purchase more affordable. Most SONYMA loans are financed through the sale of tax exempt bonds.
Tax exempt bond programs: First time homebuyers, military veterans and buyers purchasing homes in a targeted area.
Other programs: Any homebuyers or homeowners in New York who meet certain eligibility requirements.
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