How to Apply

SONYMA mortgages are available through a network of participating lenders across New York State.  These lenders are familiar with SONYMA mortgage programs and their requirements, options and benefits.

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Applying for a mortgage can be intimidating. But not with SONYMA. Your SONYMA lender will guide through the homebuying process from start to finish. 

Join our bi-monthly consumer calls or periodic in-person events to get your questions answered and learn more about our programs and products - view the SONYMA events schedule.

Pre-qualification letters let potential sellers know you are ready to buy, which puts you in a much stronger position to negotiate. A pre-qualification letter also gives you a price range of what you can afford, so you can tailor your search to stay within your budget.

Find a participating lender in your area to get pre-qualified. Getting pre-qualified is easy, but you need to make sure you have the following information at your fingertips for each-and-every loan application.

At minimum, lenders will need:

• Recent Paystubs. You will need to provide copies of paystubs along with your work history and proof of any other verifiable sources of income.
• Banking Details. Have your bank account numbers, balances, branch addresses, and your two most recent monthly bank statements.
• Debt Information. Lenders will need to assess your debt level, so have the names, addresses, and account numbers for any outstanding debts. These include, but are not limited to, student loans, car loans, and credit cards.
• Rental History. Have your landlords’ names and the dates and addresses of your occupancy.
• Tax Returns. Providing the last three years of your signed Federal Income Tax Returns helps lenders establish earning patterns over time.
• Divorce Decrees. If applicable, you may be asked to provide a divorce decree or separation agreement.

SONYMA Participating Lenders

Contact one of our helpful participating lenders to get pre-qualified for your SONYMA loan today. If your chosen lender determines that you do not qualify now, ask them to recommend ways to improve your application for the future.

SONYMA works with approved lenders across New York State to provide affordable mortgage options. These lenders include banks, credit unions, and mortgage companies approved to offer SONYMA home loan programs.

SONYMA participating lenders

SONYMA's Hall of Fame Loan Officers

The SONYMA Hall of Fame highlights loan officers who have demonstrated strong use of SONYMA programs to help New Yorkers access to affordable home loans. Use the directory below to find Hall of Fame loan officers by region, or view the complete list of SONYMA Hall of Fame loan officers (PDF). 

• Region I: Buffalo
  Cattaraugus, Chautauqua, Erie, and Niagara Counties
• Region II: Rochester
  Genesee, Livingston, Monroe, Ontario, Orleans, Seneca, Wayne, Wyoming, and Yates Counties
• Region III: Syracuse 
  Cayuga, Cortland, Madison, Onondaga, and Oswego Counties
• Region IV: Binghamton 
  Allegany, Broome, Chemung, Chenango, Delaware, Otsego, Schuyler, Steuben, Tioga, and Tompkins Counties
• Region V: Mid-Hudson 
  Columbia, Dutchess, Greene, Orange, Putnam, Sullivan, and Ulster Counties
• Region VI: Capital 
  Albany, Montgomery, Rensselaer, Saratoga, Schenectady, and Schoharie Counties
• Region VII: Mohawk Valley
  Clinton, Essex, Franklin, Fulton, Hamilton, Herkimer, Jefferson, Lewis, Oneida, St. Lawrence, Warren, and Washington Counties
• Region VIII: Westchester & Rockland
  Rockland and Westchester Counties
• Region IX: Long Island
  Nassau and Suffolk Counties
• Region X: New York City
  Bronx, Kings, New York, Queens, and Richmond Counties

Successfully buying a home requires cooperation from all sides, so staying in close contact with your lender and your attorney is always a good idea. Don't assume that, “No news is good news.” If your lender or your attorney asks for additional documentation, respond quickly.

Once you find a home and agree on a price, you will need to execute a contract and leave a good faith deposit to hold your home. This deposit usually is about $1,000 and proves to the seller that you are serious about purchasing the home.

Other things to consider during this step:

• You’ll need to provide an official offer letter. Once the seller signs your letter, the offer becomes a contract. SONYMA recommends that you hire a real estate attorney to review your contract details, so make sure your offer letter gives you that opportunity. Your realtor or the seller may recommend an attorney, but we suggest finding your own to ensure everyone is working in your best interest.
• Your contract should allow you to cancel the home purchase and get your down payment back under certain circumstances, such as:
  • Your mortgage application is turned down.
  • A professional inspection of the property reveals major defects.
  • A pest inspection shows serious termite damage or pest infestation.
  • The seller cannot provide a clear, unencumbered title.
• Once the final contract is negotiated and executed, you likely will be asked for a larger down payment—as high as 10% of the sale price. After this point, if you fail to meet your contract terms or decide not to purchase the home, you will probably lose your down payment.

If your contract requires a higher down payment than you can afford, SONYMA can help finance up to 97% of your home purchase and reimburse you for the additional down payment amount. To protect you even further, SONYMA will not permit a lender to register a loan until they've received a fully executed sales contract signed by all buyers and sellers.

Updating your application and locking in rates is critical to finalizing the details of your purchase. Your updated application will include information such as property address, final sale price, and total loan amounts. You will also need to remember to sign your new application before the lender can register your loan with SONYMA and lock in your interest rate. Once the lender completes your loan package, SONYMA and our mortgage pool insurer must review it. This step adds about one week to the normal processing time of a conventional loan.