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SONYMA
Low Interest Rate Program
The State of New York Mortgage Agency’s (SONYMA) Low Interest Rate Program provides qualified low and moderate income first time homebuyers with a low downpayment financing option on one to four unit owner occupied properties. This program offers competitive fixed interest rates and the availability of seller concessions. Purchase price and income limits vary based upon property location and household size.
Check Income Limits: http://www.nyhomes.org/index.aspx?page=153
Check Purchase Price Limits: http://www.nyhomes.org/index.aspx?page=149
Loans provided through 3rd party providers.
Achieving the Dream Program
The State of New York Mortgage Agency’s (SONYMA) Achieving the Dream Mortgage Program provides qualified low income first-time homebuyers with low downpayment mortgage financing on one and two unit properties. This program is ideal for first-time homebuyers who are looking to obtain the lowest fixed rate available with the option of using seller concessions. Purchase price and income limits vary based upon property location and household size.
Check Income Limits: http://www.nyhomes.org/index.aspx?page=152
Check Purchase Price Limits: http://www.nyhomes.org/index.aspx?page=148
Loans provided through 3rd party providers.
Construction Incentive Program
The State of New York Mortgage Agency’s (SONYMA) Construction Incentive Program was created in an effort to stimulate the construction of one and two family homes. First-time homebuyers are eligible for a competitive fixed rate loan with a low downpayment, 240 day rate lock, and the option to use seller concessions. Purchase price and income limits vary based upon property location and household size.
Check Income Limits: http://www.nyhomes.org/index.aspx?page=153
Check Purchase Price Limits: http://www.nyhomes.org/index.aspx?page=149
Loans provided through 3rd party providers.
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