SONYMA Mortgages
SONYMA (State of New York Mortgage Agency) Mortgages
SONYMA is dedicated to providing affordable home ownership opportunities to low- and moderate-income families in the State of New York by offering low interest rate mortgages.
Alternatives offers most of SONYMA's mortgage programs:
- Achieving the Dream
- Low Interest Rate
- Homes for Veterans
- Construction Incentive
- Habitat for Humanity
SONYMA Mortgage Features are:
- Usually below-market interest rates
- No points
- Down Payment Assistance Loans (DPAL) are available
- First-time homebuyer criteria is waived for veterans and properties in "target areas"
- Alternatives can draw together funding from other sources to help decrease your loan amount (ex: Ithaca Neighborhood Housing Services, Better Housing for
- Any Federal Recapture Tax (IRS) will be reimbursed by SONYMA
- Energy STAR labeled homes get DPAL without the rate increase (Construction Incentive and Achieving the Dream programs only)
LEARN MORE!
To learn more about how Alternatives can help you with a low-interest SONYMA mortgage, please contact Brian Kunk-Czaplicki (216-3409).
