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:
(continued...)
State of New York Mortgage Agency
Page 2
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
Downpayment Assistance Program for the First Time Home Buyers in North Carolina In an attempt to contribute to the eradication of this problem, the North Carolina HFA has established the Downpayment Assistance Program for the First Time Home Buyers wherein they provide interest-free, deferred second mortgages up to $8,000 to cover the downpayment and closing costs of a chosen property.
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.
Construction Incentive Program for First Time Home Buyers in New YorkUnder the State of New York Mortgage Agency, the Construction Incentive Program has been established. The goal of this program is to enable the construction of one and two family homes through the provision of funds, up to 97% of the value of the property, to eligible low to moderate income first time home buyers.
Department of Housing and Urban Development's Dollar Homes ProgramThe 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.