Overview

SONYMA offers low-cost, fixed-rate mortgages with low down payment requirements to help make buying a home more affordable. Optional add-on features provide extra support, including down payment assistance and funds for repairing or remodeling your new home.

SONYMA Programs

Achieving the Dream Program

Get the lowest interest rates available through SONYMA with the Achieving the Dream Program. This 30-year fixed mortgage offers low fees, flexible down payment options, and can be combined with other grants or subsidies.

Low Interest Rate Program

Use this program to buy a home with a lower down payment requirement, including 1-4 family homes, condos, co-ops, and manufactured homes. This 30-year fixed-rate mortgage offers competitive interest rates and down payment assistance.

Manufactured Home Loan Program

Purchase, refinance, or site a manufactured home that is permanently affixed to a foundation on owned or leased land. Low rates, down payment assistance, and flexible terms are available for qualified buyers.

Conventional & FHA Plus Programs

SONYMA’s FHA Plus or Conventional Plus Programs offer 30-year fixed rate mortgage with down payment and closing-cost assistance for first-time or returning homebuyers.

Optional Add-On Features

Down Payment Assistance Loan (DPAL)

Add this loan to any SONYMA mortgage program to help cover your down payment, closing costs, and/or mortgage insurance. This 0% interest loan can lower your monthly payments and make buying your first home more affordable.

Repayable Second Lien (RSL) Program

Apply for this interest-free, deferred payment second mortgage to help cover your down payment, closing costs, and/or mortgage insurance. It can be combined with any SONYMA first mortgage.

RemodelNY Program

Use SONYMA’s RemodelNY Program to buy a home and finance eligible repairs. This program can be combined with SONYMA’s Low Interest Rate and Achieving the Dream Programs, as well as Homes for Veterans or historic home tax credit benefits.

Homes for Veterans

Discover low-interest home loans for veterans, active service members, and their spouses. Get down payment assistance, lower interest rates, and flexible terms to make homeownership more accessible.

Graduate to Homeownership

Access low-interest mortgages and down payment assistance through this program for recent college graduates. Combine this with other SONYMA grants and programs to make buying your first home easier.

ENERGY STAR® Labeled Homes

Buy a newly built, energy-efficient home to reduce your utility bills and lower your financing costs through SONYMA programs.

Contact SONYMA

Call 1-800-382-4663 or connect with the SONYMA team online. You can also contact a participating lender to learn more about your next steps. SONYMA does not take loan applications or service loans directly.