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

Homebuyer Mortgage Program for First Time Homebuyers in Connecticut
The Connecticut Housing Finance Authority has been administering the Homebuyer Mortgage Program for First Time Homebuyers. The program is capable of offering home loans and below-market interest rates to first time homebuyers who reside in Connecticut and who are planning to acquire a property that is located in Connecticut.

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California Homebuyer's Downpayment Assistance Program for First Time Home Buyers
The California Homebuyer's Downpayment Assistance Program is a deferred payment junior loan that can be used in conjunction with other CalHFA housing programs. It provides borrowers with funds amounting to 3% of the actual value of the property that they wish to inquire in order to cover the downpayment costs.

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First Time Homebuyer Programs in California
The programs of CalHFA are constantly guided by its overall agency mission which is to "finance below market rate loans to create safe, decent and affordable rental housing and to assist first-time homebuyers in achieving the dream of homeownership."

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First Time Homebuyer Programs in New York
The State of New York cares so much about its people. It looks out for them and constantly ascertains that their best interest is always protected. One of the ways in which the state has manifested this concern is through the establishment of the State of New York Mortgage Agency, more commonly referred to as SONYMA, which is a public authority established in 1970 designed to provide reasonable and affordable home-ownership opportunities to low and moderate income New Yorkers, especially to first time home buyers.

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