Homes for Veterans Program
Homes for Veterans Program (SONYMA Below-Market Mortgage)
New York State's mortgage agency (SONYMA) offers fixed-rate home loans with interest rates 0.375% below SONYMA's already-low standard rates specifically for veterans and active-duty service members.
Details
New York State's mortgage agency (SONYMA) offers fixed-rate home loans with interest rates 0.375% below SONYMA's already-low standard rates specifically for veterans and active-duty service members. Veterans do not need to be first-time homebuyers. Down payment assistance of up to $15,000 is available.
Restrictions
No points or origination fees. Minimum borrower cash contribution is only 1%. Honorably discharged National Guard and Reserve members also eligible. Must work through a SONYMA participating lender. Also see hcr.ny.gov/homes-veterans-program.
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