SONYMA

Which SONYMA Mortgage is right for you? The State of New York Mortgage Agency (SONYMA) offers four mortgage programs to assist you with the purchase of a home in New York State. Each program features a below-market interest rate, low down payment requirements, no prepayment penalties, and offers closing cost assistance. Each of these features are designed to make your home purchase more affordable. All SONYMA loans are financed through the sale of tax exempt bonds.

  • Low Interest Rate Program
    SONYMA's standard mortgage program for a first-time homebuyer purchasing a newly constructed or existing home.

  • Remodel New York
    First-time homebuyers can buy an existing home and finance the cost of renovating it with one below-market fixed rate mortgage.

  • Achieving the Dream
    Features the lowest interest rate of all SONYMA programs. Available to lower income first-time homebuyers.

  • Construction Incentive Program
    First-time homebuyers can use this program to buy a newly constructed home. Features 100% financing with a stepped interest rate that is lower for the first 48 payments.

  • Homes for Veterans Program
    A program specifically designed for military veterans. Allows a qualified veteran to apply for any currently available SONYMA program with more favorable terms.

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