The Construction Incentive Program provides up to 97% financing to qualified first-time homebuyers who purchase newly constructed or rehabilitated homes and offers a longer term- rate lock period.
Features and requirements of the Construction Incentive Program.
Current interest rates for the Construction Incentive Program.
Down payment assistance is available for the Construction Incentive Program.
Learn more about SONYMA's Down Payment Assistance Loan (DPAL).
All SONYMA Mortgage Programs require borrowers to meet certain Household Income and Purchase Price limits.
SONYMA's Purchase Price Limits.
SONYMA's Household Income Limits.
To apply for a SONYMA loan you must contact one of over 50 Participating Lenders located statewide.
SONYMA's Participating Lender List*.
*Currently, CCO Mortgage Corporation does not originate loans under the Construction Incentive Program.
To compare the Construction Incentive Program with all other SONYMA mortgage programs, see our Program Comparison Chart
Last updated: 4/16/12
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