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Homes and Community Renewal

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Low Interest Rate Program

SONYMA's Low Interest Rate Program provides qualified low and moderate income first time homebuyers with low downpayment mortgage financing on one to four family dwellings (including condominiums and cooperative apartments, as well as manufactured homes permanently attached to real property) at competitive fixed interest rates.

Down payment assistance is available for the Low Interest Rate Program.

Funds are available for minor repairs under the Low Interest Rate Program.

  • Learn more about SONYMA's RemodelNY option.

All SONYMA Mortgage Programs require borrowers to meet certain Household Income and Purchase Price limits.

To apply for a SONYMA loan you must contact one of over 50 Participating Lenders located statewide.

To compare the Low Interest Rate Program with all other SONYMA mortgage programs, see our Program Comparison Chart