State of New York Mortgage Agency
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a) Low Interest Rate Mortgage Program - One of the primary housing loan programs of SONYMA that is specially geared towards the eligible first time homebuyers of New York. The notable features of this program are its incredibly low interest rates, an option to avail of a low downpayment mortgage financing program, a fixed interest rate, and a mortgage plan that is payable for up to 30 years.

b) Achieving the Dream Program - This program provides eligible low-income first time home-buyers with a low downpayment mortgage financing program if they wish to acquire one or two family dwellings.

c) Construction Incentive Program - This program was developed in an effort to stimulate the construction of one to two family homes. The program can provide qualified first time home-buyers with up to 97% of financing for the construction of their chosen properties.

d) Remodel New York Program - This program is specifically created to assist first time home-buyers in the process of purchasing and repairing homes and properties that are in dire need of renovation.

e) Homes for Veterans Program - This program is tailored to assist U.S. military veterans and active duty U.S. military personnel in the process of purchasing a new home or transferring to another property.

f) Down Payment Assistance Loan - This program can be used in conjunction with another SONYMA home-buying loan program as it only offers eligible first time home-buyers with funds that are only sufficient for covering the downpayment and closing costs of purchasing a home.

State of New York Mortgage Agency
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About The Author Michael Saunders is an editor of TopGovernmentGrants.com one the the most comprehensive Websites offering information on government grants and federal government programs. He also maintains Websites providing resources on environmental grants and grants for youth programs.

Additional Resources

category - Home Buying Programs

Rehabilitation Mortgage Insurance Program
The Department of Housing and Urban Development, otherwise known as HUD, is a Cabinet department in the executive branch of the United States federal government.

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Buying A Home After Bankruptcy - Get A Mortgage Loan After Bankruptcy
If you have a recent bankruptcy on your credit and are looking to get financing for a home, there is hope. Buying a home with bad credit will just put more emphasis on the other two factors needed to...

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State of New York Mortgage Agency
The State of New York Mortgage Agency, otherwise referred to as SONYMA, is an agency established in the year 1970 in an attempt to address the shortages of funds within private banking systems that are specifically intended for residential mortgages within the State of New York.

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First Time Homebuyer Programs in Connecticut
The Connecticut Housing Finance Authority, otherwise known as CHFA, is a self-supporting quasi-public housing agency operating within the State of Connecticut. The agency was established in the year 1969 in an effort to address the concerns regarding the lack or insufficient supply of affordable housing opportunities for Connecticut’s low- and moderate-income families and individuals.

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