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

Downpayment Assistance Program for the First Time Home Buyers in North Carolina
The programs and activities of the North Carolina Housing Finance Agency are constantly geared towards the satisfaction of the best interest of its target population, which is why all their endeavors are carefully guided by their overall agency mission which is "to create affordable housing opportunities for North Carolinians whose needs are not met by the market."

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Achieving the Dream Program for First Time Home Buyers in New York
One of the programs of the State of New York Mortgage Agency, is the Achieving the Dream Program wherein it seeks to provide eligible low income first time home buyers with really low down payment mortgage financing programs.

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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 Arkansas
The Arkansas Development Finance Authority was primarily created to develop safe, decent and affordable housing for low and moderate income Arkansans. The authority's primary goal is to administer funding in the form of tax exempt bonds and other debt instruments through several programs which are divided into three main categories: Economic Development, Homeownership, and Affordable Rental Housing.

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