Achieving the Dream Program for First Time Home Buyers in New York
Page 2

The properties that are eligible to be bought under the Achieving the Dream Program are the following:

1) Must be located in the State of New York

2) Must have a sale price or appraised value that does not go beyond SONYMA's Purchase Price/Appraised Value limits

3) Must not be utilized for business or commercial purposes

4) Must be an existing one family home, or an existing two family home that is at least five years old

5) Must be a maximum of 5 acres only

6) Must have at least 500 square meters of living space

In order to be considered eligible to submit an application under the Achieving the Dream Program, a borrower must be:

1) Must be a first time home buyer as defined by the rules and regulations of SONYMA

2) Must have a stable job, a good credit history, enough income to cover mortgages and other payment obligations, sufficient assets and savings that would cover down payment and closing costs

3) Must be able to meet SONYMA's Household Income Limit requirements

4) Must be able to permanently occupy the SONYMA-financed home as their primary residence.

To read more about the Achieving the Dream Program for First Time Home Buyers in New York, you can visit http://www.nyhomes.org/Home/Buyers/SONYMA/AchievingtheDreamProgram.htm.

Achieving the Dream Program for First Time Home Buyers in New York
  Back to Page 1

About The Author Iola Bonggay is an editor of TopGovernmentGrants.com one the the most comprehensive Websites offering information on government grants and federal government programs. She also maintains Websites providing resources on community grants and health grants.

Additional Resources

category - Home Buying Programs

Connecticut Housing Finance Agency Mortgage Programs for Military, Police and Teachers
The Connecticut Housing Finance Agency has established the Mortgage Programs for Military, Police and Teachers so as to provide reasonable housing opportunities to veterans and active duty service members of the United States Military, the National Guard, along with teachers and police officers who are assigned in under-served areas.

---

Rehabilitation Mortgage Insurance Program
The Rehabilitation Mortgage Insurance Program intends to financially assist families as they repair or improve, purchase and improve, or refinance and improve their current residential properties that have been existent for more than a year.

---

Connecticut Housing Finance Agency Mortgage Programs for Military, Police and Teachers
The Connecticut Housing Finance Agency has established the Mortgage Programs for Military, Police and Teachers so as to provide reasonable housing opportunities to veterans and active duty service members of the United States Military, the National Guard, along with teachers and police officers who are assigned in under-served areas.

---

Section 8 Housing Choice Voucher Homeownership Program
The Connecticut Housing Finance Agency has been administering the Section 8 Housing Choice Voucher Homeownership Program wherein they intend to offer home loans at reasonable, below-market rates to Section 8 tenants who wish to purchase a home of their own.

---