Achieving the Dream Program for First Time Home Buyers in New York
Page 2

The properties that are eligible to be bought under the Achieving the Dream Program are the following:

1) Must be located in the State of New York

2) Must have a sale price or appraised value that does not go beyond SONYMA's Purchase Price/Appraised Value limits

3) Must not be utilized for business or commercial purposes

4) Must be an existing one family home, or an existing two family home that is at least five years old

5) Must be a maximum of 5 acres only

6) Must have at least 500 square meters of living space

In order to be considered eligible to submit an application under the Achieving the Dream Program, a borrower must be:

1) Must be a first time home buyer as defined by the rules and regulations of SONYMA

2) Must have a stable job, a good credit history, enough income to cover mortgages and other payment obligations, sufficient assets and savings that would cover down payment and closing costs

3) Must be able to meet SONYMA's Household Income Limit requirements

4) Must be able to permanently occupy the SONYMA-financed home as their primary residence.

To read more about the Achieving the Dream Program for First Time Home Buyers in New York, you can visit http://www.nyhomes.org/Home/Buyers/SONYMA/AchievingtheDreamProgram.htm.

Achieving the Dream Program for First Time Home Buyers in New York
  Back to Page 1

About The Author Iola Bonggay is an editor of TopGovernmentGrants.com one the the most comprehensive Websites offering information on government grants and federal government programs. She also maintains Websites providing resources on community grants and health grants.

Additional Resources

category - Home Buying Programs

First Time Homebuyer Programs in Georgia
In July 1996, the Governor and General Assembly made a vital decision to join together the Georgia Housing and Finance Authority (GHFA) with the Department of Community Affairs.

---

Down Payment Assistance Loan for First Time Home Buyers in New York
In line with this, The State of New York Mortgage Agency has been running the Down Payment Assistance Loan Program (DPAL) wherein it intends to help first time home buyers overcome the setbacks brought about by down payments and closing costs.

---

How to Get a Government Home Loan with Low or Moderate Income
The government provides loans to those individuals who have low to moderate income for permanent residence in rural areas. To qualify for these government loans is not that hard and the restrictions ...

---

Department of Housing and Urban Development's Dollar Homes Program
The Dollar Homes Program revolves around the process of selling single family homes for a superbly reasonable price of $1 (plus closing cost) to low-to-moderate income families, granted that these houses have been acquired through foreclosure by the Federal Housing Administration, and have already been actively marketed for at least six months and still remained unsold after that certain period of time.

---