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State Bond Programs
The State of New York Mortgage Agency (SONYMA)Owning a home is within reach. The State of New York Mortgage Agency (SONYMA) has programs that provide affordable homeownership opportunities for first-time homebuyers in New York State.1
Features of our various SONYMA programs include:
- A low fixed interest rate mortgage.
- Financing of up to 97% of the value of the property (up to $424,100) for qualified borrowers and homes (for three and four family dwellings the maximum financing is 90%).
- A low minimum borrower cash contribution requirement of 1% of the value of the property (3% for three and four family dwellings).
- 120-day interest rate locks for existing housing and completed new construction.