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Homes and Community Renewal

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SONYMA Products for First-Time Homebuyers

Incentives for Purchasers of
ENERGY STAR® Labeled Homes

SONYMA's Achieving the Dream Program offers special savings to homebuyers who purchase new energy efficient homes under the New York ENERGY STAR® Labeled Homes Program.

Click here for more information about incentives for purchasers of ENERGY STAR Labeled Homes.

The State of New York Mortgage Agency (SONYMA) offers five mortgage programs to assist first-time homebuyers with the purchase of a home in New York State.

Our five mortgage programs feature competitive interest rates, low down payment requirements, flexible underwriting guidelines, no prepayment penalties and down payment assistance. Each of these features are designed to make your home purchase more affordable. All SONYMA loans are financed through the sale of tax exempt bonds.

Mortgage Programs:

Homes for Veterans Program
A program specifically designed for military veterans. Allows a qualified veteran to apply for any of the below listed SONYMA programs with more favorable terms.

Remodel New York
First-time homebuyers* can buy an existing home and finance the cost of renovating it with one low, fixed rate mortgage.

Achieving the Dream
Features lower interest rates than other SONYMA programs. Available to lower income first-time homebuyers. Click here to learn about incentives for purchasers of newly constructed, energy efficient homes.

Low Interest Rate Program
SONYMA's standard mortgage program for a first-time homebuyer* purchasing a newly constructed or existing home.

* You do NOT have to be a first time homebuyer to be eligible for this program if you are buying a home in a Target Area. To learn more about Target Areas or find out if a property is located in a Target Area, click here.