State of New York Mortgage Agency

by: Michael Saunders

Due to the huge population of first time home-buyers in the state of New York, the local government has established an independent agency that is specially tailored to contribute to the improvement of the existing and future home-buying process in the State of New York.

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.

The housing loan programs of SONYMA are primarily geared towards qualified first time home buyers who reside in, work at, and intend to purchase a home or property within the State of New York.

At present, SONYMA is running approximately six premiere home buying loan programs. These are:

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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

Homeownership Program for First Time Homebuyers in Connecticut
The Connecticut Housing Finance Agency has established the Homeownership Program wherein it intends to provide reasonable home loans with below-market interest rates to tenants occupying publicly assisted housing who wish to transition from renting into homeownership.

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Keystone Home Loan PLUS Program
The Pennsylvania Housing Finance Agency, otherwise termed as PHFA, is an independent agency established in year 1972 in an attempt to assist the provision of reasonable and affordable housing opportunities the elderly, persons and families of modest means, and people suffering from disabilities.

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Downpayment Assistance Program for the First Time Home Buyers in North Carolina
In an attempt to contribute to the eradication of this problem, the North Carolina HFA has established the Downpayment Assistance Program for the First Time Home Buyers wherein they provide interest-free, deferred second mortgages up to $8,000 to cover the downpayment and closing costs of a chosen property.

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Department of Housing and Urban Development: Continuum of Care Homeless Assistance Programs
The CoC Homeless Assistance programs is designed to reduce the incidence of homelessness in established CoC communities, thereby the need to assist homeless individuals and families during the process of quickly transitioning to self-sufficiency and permanent housing.

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