Posted by Admin | August 1st, 2013

The State of New York Mortgage Agency (SONYMA) provides avenues to homeownership for low-income buyers, first-time homebuyers and veterans. Initiatives are also available for home purchases in federally targeted areas of the state. Bill Mulrow was recently appointed as the Chairman of SONYMA and oversees its various programs on behalf of New York residents.


The Achieving the Dream program administered by SONYMA under the leadership of Bill Mulrow offers lower interest rates and more favorable terms for first-time New York homebuyers. Applicants must meet income requirements and can use their mortgage funds to purchase a new home or an existing home. They can also use the funds to finance repairs and renovations as well as the purchase price of a distressed property in the state of New York.


Homes for Veterans is a specialized program that delivers the best possible mortgage rates and terms for active-duty military personnel and veterans. This program can be combined with other SONYMA initiatives to allow the purchase price and renovation costs of the property to be covered by one mortgage loan. This can provide valuable flexibility for veterans and members of the military in purchasing their first homes in New York.


SONYMA’s Low Interest Rate Program is the most popular entry in the lineup of mortgage options offered by the agency. Available for both new and existing home purchases, this program offers maximum flexibility for first-time homebuyers and can be used in conjunction with federally targeted areas to provide even more benefits for those looking for their first family home.


Bill Mulrow and SONYMA are working to create added initiatives to extend the benefits of homeownership to even more New York residents.


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