State of New York Mortgage Agency
by:
Michael SaundersDue to the huge population of first time home-buyers in the state of New York, the local government has established an independent agency that is specially tailored to contribute to the improvement of the existing and future home-buying process in the State of New York.
The State of New York Mortgage Agency, otherwise referred to as SONYMA, is an agency established in the year 1970 in an attempt to address the shortages of funds within private banking systems that are specifically intended for residential mortgages within the State of New York.
The housing loan programs of SONYMA are primarily geared towards qualified first time home buyers who reside in, work at, and intend to purchase a home or property within the State of New York.
At present, SONYMA is running approximately six premiere home buying loan programs. These are:
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State of New York Mortgage Agency
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About The Author
Michael Saunders is an editor of TopGovernmentGrants.com one the the most comprehensive Websites offering information on government grants and federal government programs.
He also maintains Websites providing resources on environmental grants and grants for youth programs.
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Additional Resources
category - Home Buying Programs
Homebuyer Mortgage Program for First Time Homebuyers in ConnecticutThe Connecticut Housing Finance Authority has been administering the Homebuyer Mortgage Program for First Time Homebuyers. The program is capable of offering home loans and below-market interest rates to first time homebuyers who reside in Connecticut and who are planning to acquire a property that is located in Connecticut.
Downpayment Assistance Program for the First Time Home Buyers in North Carolina The programs and activities of the North Carolina Housing Finance Agency are constantly geared towards the satisfaction of the best interest of its target population, which is why all their endeavors are carefully guided by their overall agency mission which is "to create affordable housing opportunities for North Carolinians whose needs are not met by the market."
Second Mortgage Loan Program and Mortgage Credit Certificate for Homebuyers in North CarolinaOne of the more popular programs is the FirstHome Mortgage Program for First Time Homebuyers which offer significantly low interest rates and a rather low fixed 30-year mortgage plan.
California Housing Finance AgencyThe California Housing Finance Agency, otherwise known as CalHFA, is an independent, self-supporting agency that was chartered to as the State's affordable housing bank to make low interest rate loans through the sale of tax-exempt bonds; with these bonds being repaid by revenues generated through mortgage loans, instead of taxpayer dollars.