SONYMA, in conjunction with the New York State Department of Veterans' Affairs, is pleased to offer the Homes for Veterans Program that will enable more U.S. military veterans and active duty U.S. military personnel to buy their first home (or move to a different home if you are a U.S. military veteran). A change in Federal law enables SONYMA to waive the first-time homebuyer requirement for any veteran (and their spouse or co-borrower) who:
Or any first time homebuyer may take advantage of the program benefits if they are:
Down payment assistance is available for the Home for Veterans Program. Learn more about Down Payment Assistance Loan (DPAL).
SONYMA offers a mortgage product that finances both the purchase and renovation of a home in need of improvements or repairs.
To apply for a SONYMA loan you must contact one of our Participating Lenders, located statewide, offering the Homes for Veterans Program. SONYMA's Participating Lender list.