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Homes and Community Renewal

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Information for Loan Officers

This webpage was developed to provide loan officers with the necessary information and tools needed to successfully originate SONYMA loans.

Program Comparison Chart

Click here to view the SONYMA Program Comparison Chart.

Compare SONYMA to FHA

  • FHA vs. SONYMA Comparison Chart
    View a chart that compares FHA mortgages to SONYMA mortgages. (Revised March 2015)

  • FHA vs. SONYMA Calculator
    Use this calculator to determine which product may be better for your customer. (Revised March 2015)

Project Set-Aside Approval List

Click here to download SONYMA's Project Set-Aside Approval List using Adobe Acrobat Reader

SONYMA's Project Set-Aside Approval list is designed to provide you with certain information pertaining to SONYMA's approved condominium and co-operative projects. The Project Set-Aside number (PSA #) must be utilized when reserving loans on our Lender Online (LOL) system. If the development does not appear on the Lender Online (LOL) drop-down, please contact our Project Set Aside Director, Marie Cammarata, at 212-872-0401, for assistance. If the number of units are close to the allotted loans available for financing, we strongly recommend that you contact us to see if any units remain available for financing. This report is updated bi-weekly and may not be up to date at the time of your reservation. If our project approval has expired, please fax (917-274-0401) or email ( the following documents to us for review:

1) Any amendments filed since the project was approved

2) A recent appraisal and

3) An updated Project Set-Aside Builder/Developer/Sponsor Information Form

Disclaimer: While SONYMA will make every effort to ensure that the information contained in the project list is accurate, it does not guarantee so. The report will be updated twice per month. If the number of Loans Available for Reservation is low, please contact Marie Cammarata at (212) 872-0401 or before registering a loan.

Targeted Areas

In most cases, applicants who purchase in a Target Area do not need to be first-time homebuyers. Download SONYMA's Listing for Federally Approved Target Areas.

To obtain a census tract or BNA and block group for a property, click here for instructions on how to get this information from the U.S. Census Bureau website or you may call 1-800-382-HOMES. Exact property address and zip code must be available To find out if a property is located in a Target Area, call SONYMA's Information Center at 1-800-382-HOME (4663) with the exact street address, city or town, and zip code.

Tips for Originating SONYMA Loans

Click here to see our archive of weekly tips published in our Weekly Availability of Funds and Notice of Terms Bulletin.

Lender Online

Click here to access SONYMA's Lender Online. Click here to view Lender Online Log-in Tips. Reserve SONYMA loans online, get loan statuses, print forms, and run pipeline reports using this internet-based reservation and information system. To download the Lender Online User Guide, click here.

SONYMA Staff Directory

Click here for a directory of SONYMA staff

Required Forms and Documents

Below is a list of forms or documents that are unique to SONYMA loans. Follow the instructions on how to complete these forms in the Submitting Pre-Closing Application Loan Files notes in order to maximize the possibility of getting a loan approval the first time the loan is reviewed.

Form Name Form Number

Recapture Notification & Mortgagor's Affidavit
Required for all SONYMA loans.
(Click here for a completed sample of 211/3-16)


Property Seller's Affidavit
Required for all SONYMA loans Must be executed by the property seller as of the closing date.

Note: Form is waived for new construction, if the owner of the land and the builder are different individuals or entities or for foreclosed properties being sold by a foreclosing lender/investor.


Interest Rate Option Form
Required for all SONYMA loans.


Military Veteran's Eligibility Affidavit
The eligible Veteran borrower must sign the affidavit only if the Veteran or any household member who holds title to the property is not a first-time homebuyer.


DPAL Recapture Notification
Required only if the applicant is opting for a DPAL.


SONYMA Loan Reservation Worksheet and Rate Certification

Exhibit L

Other Required Documents

Recent Paystubs
Required for  income of all borrowers (and each borrower’s spouse, regardless of whether they sign the Mortgage documents) and all titleholders.

Note: Must be computer generated and contain year-to-date earnings)

Federal Income Tax Returns for Last 3 Years
Returns must contain all Schedules and must be signed by all applicants. State returns are not acceptable. Transcripts of returns are acceptable if copies of Federal returns are unavailable.

Reimbursement of IRS Recapture Tax

To be eligible for SONYMA reimbursement of any Federal recapture tax the borrower paid, the following must apply:

  • The loan was financed with SONYMA's qualified mortgage revenue bonds and closed on or after July 17, 2007 (or the borrower utilized a Mortgage Credit Certificate on or after September 2, 2009); and

  • The borrower submits "Requests for Recapture Tax Reimbursement" form, along with the supporting documentation to SONYMA.

  • Click here to view a flyer regarding the IRS Recapture Tax.

Lender Training Materials

Download the latest handouts from SONYMA's training seminars which are designed to answer all your questions on:

Click here to contact a Business Development Officer responsible for your area, if interested in product training.

Income and Purchase Price Limits

Download the current income and purchase price limits using Adobe Acrobat Reader.

Brochures & Info

Click here to access other SONYMA brochures and flyers

MIF Mortgage Insurance Premium Charts

MIF will provide mortgage insurance on any loan that meets SONYMA's guidelines and for which the private MI's are unwilling to insure. Below are MIF's premium charts:

Genworth Mortgage Insurance Premium Charts

Homebuyer Education

  • Please click here to access the Genworth homebuyer education course register.