State of New York Mortgage Agency

by: Michael Saunders

Due 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.

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 Homebuyer's Downpayment Assistance Program for First Time Home Buyers
The California Homebuyer's Downpayment Assistance Program is a deferred payment junior loan that can be used in conjunction with other CalHFA housing programs. It provides borrowers with funds amounting to 3% of the actual value of the property that they wish to inquire in order to cover the downpayment costs.

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Rehabilitation Mortgage Insurance Program
The Department of Housing and Urban Development, otherwise known as HUD, is a Cabinet department in the executive branch of the United States federal government.

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Achieving the Dream Program for First Time Home Buyers in New York
One of the programs of the State of New York Mortgage Agency, is the Achieving the Dream Program wherein it seeks to provide eligible low income first time home buyers with really low down payment mortgage financing programs.

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