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Homes and Community Renewal

ENERGY STAR® Labeled Homes Term Sheet

Features of New York ENERGY STAR® Labeled Homes product:

  • Interest rates that are .375% lower than our standard interest rates for loans with down payment assistance

  • Down Payment Assistance of $3,000 or 3% of the home purchase price (not to exceed $15,000)

  • No points

  • 240-day rate lock

Available Programs for the New York ENERGY STAR® Labeled Homes product; to learn more about each of the below programs, click on the program listed:

Eligible Properties must:

Be one of the following property types:

Before registering your loan application with SONYMA, the participating lender will be required to do the following:

  1. Ensure that the contract of sale between the applicant and the builder clearly states that the home is being built in accordance with New York ENERGY STAR® Labeled Homes requirements, and

  2. Verify with NYSERDA or PSEG of Long Island, as applicable, that the builder is a registered ENERGY STAR® builder.

Prior to Loan Closing, the following steps must be taken:

  1. During the construction phase of your New York ENERGY STAR® Labeled Home, a certified third-party Home Energy Rating System (HERS) rater must perform an inspection of the home to ensure that it is being built to the New York ENERGY STAR® standards. A final home energy rating is performed near completion of the home.

  2. Once the home is complete, the builder must submit documentation, including the final certification of the HERS rater, to NYSERDA’s Low-Rise Residential New Construction Program Implementation Contractor (

  3. NYSERDA’s Implementation Contractor will review the builder’s incentive application and documentation to ensure that it is complete and meets application requirements, and forwards the application to NYSERDA for processing.  A Home Energy Rating Certificate (“HERC”) is usually included in the documentation.

  4. Lenders must request the HERC to demonstrate that the home has been built and tested to meet the New York ENERGY STAR® Certified Labeled Homes program requirements.  (Note: For individual units in mid-to-high rise cooperative or condominium buildings that have obtained an ENERGY STAR label through the Multifamily Performance Program a/k/a “MPP”, a building report can be requested from NYSERDA.

  5. Upon receipt of a report evidencing compliance with current New York ENERGY STAR Certified Home program requirements, the participating lender may close the loan and you will receive the special incentive interest rate offered by SONYMA. Click here to see interest rates for this product.