State of New York Mortgage Agency
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a) Low Interest Rate Mortgage Program - One of the primary housing loan programs of SONYMA that is specially geared towards the eligible first time homebuyers of New York. The notable features of this program are its incredibly low interest rates, an option to avail of a low downpayment mortgage financing program, a fixed interest rate, and a mortgage plan that is payable for up to 30 years.

b) Achieving the Dream Program - This program provides eligible low-income first time home-buyers with a low downpayment mortgage financing program if they wish to acquire one or two family dwellings.

c) Construction Incentive Program - This program was developed in an effort to stimulate the construction of one to two family homes. The program can provide qualified first time home-buyers with up to 97% of financing for the construction of their chosen properties.

d) Remodel New York Program - This program is specifically created to assist first time home-buyers in the process of purchasing and repairing homes and properties that are in dire need of renovation.

e) Homes for Veterans Program - This program is tailored to assist U.S. military veterans and active duty U.S. military personnel in the process of purchasing a new home or transferring to another property.

f) Down Payment Assistance Loan - This program can be used in conjunction with another SONYMA home-buying loan program as it only offers eligible first time home-buyers with funds that are only sufficient for covering the downpayment and closing costs of purchasing a home.

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.

Additional Resources

category - Home Buying Programs

Keystone Home Loan Program For First Time Homebuyers in Pennsylvania
The Pennsylvania Housing Finance Agency has been administering the Keystone Home Loan Programs For First Time Homebuyers within the State of Pennsylvania.

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California Housing Finance Agency
The 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.

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First Time Homebuyer Programs in California
The programs of CalHFA are constantly guided by its overall agency mission which is to "finance below market rate loans to create safe, decent and affordable rental housing and to assist first-time homebuyers in achieving the dream of homeownership."

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Urban Rehabilitation Homeownership Program for Homebuyers in Connecticut
In accordance with this mission, the Connecticut Housing Finance Authority has established the Urban Rehabilitation Homeownership Program wherein it intends to home purchase loans at steady, below-market rates together with home improvement loans with no interest, all in an attempt to support homeownership and investment in selected Connecticut neighborhoods.

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