Not every house is perfect. Some need a little TLC, and some need a lot. But paying for those repairs—even minor ones—can add up fast. The SONYMA RemodelNY program provides mortgage financing options that let you purchase a property and pay for repairs to turn that almost-perfect house into your perfect home.

RemodelNY Benefits
  • Available under our Low Interest Rate and Achieving the Dream programs at the same interest rate
  • May be combined with the Homes for Veterans enhancement program


Eligible home improvements include
  • Structural alterations and reconstruction, like finishing a basement, repairing chimneys, and adding garages
  • Remodeling kitchens and bathrooms
  • New free-standing appliances
  • Eliminating health and safety concerns
  • Aesthetic changes, like new siding or paint
  • Plumbing updates
  • Roofing, gutters, and downspouts
  • Flooring
  • Energy conservation updates
  • Major landscaping and site improvements
  • Elevating the home, filling in below grade space or raising mechanicals to lower flood insurance premiums

RemodelNY financing is available for existing 1-4 family homes. Planned Unit Developments (PUDs) and condominiums also are eligible, provided the Homeowners Association approves of the proposed renovations.  

Term Sheet

Download the RemodelNY Term Sheet to get more details now about the Remodel NY program, loan terms, eligibility requirements, and more.

Remodel Historic NY

In partnership with SONYMA's RemodelNY program, New York State Parks, Recreation, and Historic Preservation offers first time homebuyers looking to purchase a historic home the opportunity to take advantage of tax credits equal to 20% of the repair costs.


Remodel Historic NY qualified expenses

Exterior and interior work is eligible and homebuyers can undertake a variety of repairs and/or replacements as long as the work does not significantly change the house’s overall historic appearance, including but not limited to:

  • Structural systems
  • Roofs
  • Utility systems
  • Windows and doors
  • Exterior walls
  • Weatherproofing


Download the Remodel Historic NY Term Sheet to get more details about the Remodel Historic NY program, eligibility requirements, and more.