Making the Dream of
Home Ownership
Possible in NY
SONYMA creates affordable homeownership
opportunities for low- and moderate-income first-time homebuyers
and other qualifying
homebuyers, and to provide mortgage insurance for qualifying
real property loans.
- Available for New York properties
only.
- Low rates.
- 3% down payment.
- Available for qualified
borrowers under SONYMA's income and purchase price
limitations.
Which SONYMA Mortgage is right for
you?
The State of New York Mortgage Agency
(SONYMA) offers four mortgage programs to assist you with the purchase
of
a home in New York
State. Each program features a below-market interest rate,
low down payment requirements, no prepayment penalties, and offers
closing cost assistance. Each of these features are designed
to make your
home purchase more affordable. All SONYMA loans are financed
through the sale of tax exempt bonds.
- Low Interest Rate Program
SONYMA's standard
mortgage program for a first-time homebuyer* purchasing a newly
constructed or existing home.
- Remodel
New York
First-time homebuyers* can buy an existing home and
finance the cost of renovating it
with one below-market fixed rate mortgage.
- Achieving
the Dream
Features the lowest interest rate of
all SONYMA programs. Available to lower income first-time homebuyers.
- Construction Incentive
Program
First-time homebuyers* can use this
program to buy a newly constructed home. Features 100% financing
with a stepped
interest rate that
is lower for the first 48 payments.
- Homes for Veterans
Program
A program specifically designed for
military veterans. Allows a qualified veteran to apply for
any currently
available SONYMA program
with more favorable terms.
*You do NOT have to
be a first-time homebuyer to be eligible for this program
if you are buying a
home
in a Target
Area.
The Mid-Island Mortgage Corp. difference.
What separates Mid-Island Mortgage
Corp. from everyone else is our solid track record and proven stability
since 1959. Mid-Island Mortgage Corp. is your personal mortgage
banker, regardless of trends and market cycles. While many
of the new players to the home mortgage field have abandoned the
community, chasing the next "hot market" to take advantage
of, Mid-Island Mortgage Corp. is still happily serving you, your
family and your neighbors.
Our commitment to the thousands
seeking the dream of home ownership is one of the many reasons
we say "you always have a home with us!"
|
