Sonyma Interest Rate30-year fixed rate mortgage. Down Payment Assistance Loan: A zero percent interest rate loan available for all buyers using a SONYMA mortgage program to provide initial funding, up to 3 percent of the purchase price. 375% higher interest than SONYMA’s. Choose from terms of 15, 20, 25 and 30 year fixed rate. It’s designed for borrowers who need help qualifying for a 30-year fixed rate mortgage as well as those. SONYMA has two primary mortgage programs that KeyBank offers – Achieving the Dream and Low Interest Rate. 875 % Interest Rate 6. Home Ownership seven house buying tips for saving money. With a 30-year fixed rate mortgage, you’ll only have to contribute 3% of your total loan amount for your down payment. gov">Affordable Housing for Veterans. A: SONYMA's first time homeowner mortgages are often funded through the issuance of tax free mortgage revenue bonds. Zero percent interest rate No monthly payments Forgiven after 10 years $1,000 minimum loan amount Maximum loan amount: 3 percent of purchase price (up to $15,000) or $3,000, whichever is. I believe once we reach 80% equity the insurance would fall off. The State of New York Mortgage Agency (SONYMA) offers a low-interest rate program to first-time buyers. Interest rates that are 0. Results: Maximum Affordable Mortgage (3) Monthly Principal and Interest Mortgage Payment: Maximum Affordable Purchase Price (4): Minimum Required Downpayment Amount: (1) Downpayments of less than 3% apply to the Habitat for Humanity Program only. This is SONYMA’s lowest interest rate program. Homes for Veterans Program. See website for more details and to apply. As of Thursday, August 18, 2022, mortgage rates in New York were 5. SONYMA's low interest rate program offers lower down payment requirements and competitive interest rates to qualified buyers. SONYMA RemodelNY covers a wide variety of improvements and repairs. PDF Low Interest Rate Program Income and Purchase Price Limits Effective. The program lets you lock in an interest rate for 120 days for existing housing, or 240 days. State of New York Mortgage Agency (SONYMA) Highlights of SONYMA: Down payment assistance As little as 3% down Competitive interest rates What is SONYMA? The. The State of New York Mortgage Agency (SONYMA) offers a low-interest rate program to first-time buyers. 50 % lower than standard interest rates for loans with down payment assistance (Follow guidelines for Achieving the Dream Mortgage and Construction Incentive Programs. President Luiz Inácio Lula da Silva renewed his criticism of Brazil’s central bank for failing to lower borrowing costs, saying Brazilian society can no longer stand the Selic benchmark rate at. 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. The SONYMA Low Interest Rate Program offers competitive interest rates and low down payment options in a 30-year fixed rate mortgage. 375% higher than mortgages without” in some cases, but all who apply for these down payment loans in conjunction with Home For Veterans are NOT subject to this rate. No points for either SONYMA program. Homebuyer Down Payment Assistance The Homebuyer Incentive Program (HIP) grants assistance of $15,000 and $20,000 to income- eligible applicants, in order to promote homeownership in Troy for low income homebuyers. SONYMA’s low interest course program offers lower down payment conditions and competitive interest rates to qualified patrons. Low Interest Rate Program: The standard 30-year fixed rate mortgage program for a. However, the FHA backs this mortgage. SONYMA has two primary mortgage programs that KeyBank offers – Achieving the Dream and Low Interest Rate. Recipients of DPAL loans will pay a 0. ARM (5/6mos ARM, 7/6mos ARM, 10/6mos ARM) These increasingly popular ARMs — also called 5/6mos, 7/6mos, or 10/6mos — can offer the best of both worlds: lower interest rates (like ARMs) and a fixed payment for a longer period of time than most adjustable-rate loans. The SONYMA FHA Plus program is very similar to the Conventional Plus program. 375% lower than standard SONYMA interest rates (for loans with down payment assistance). 25% interest rate discount. SONYMA)">New York Homes for Veterans Program (SONYMA). Both programs have SONYMA’s optional down payment assistance loans (DPAL). SONYMA’s Low Interest Rate program: The State of New York Mortgage Agency (SONYMA)’s low interest rate mortgage program for first-time buyers has down payment requirements as low as 3% and competitive interest rates. 375% below the already low interest rates charged on SONYMA mortgages with down payment assistance. Down payment requirement as low. 88%: 0: Rate (a)This interest rate is an estimate of the rate that will apply for the remaining term of the. What are the benefits of SONYMA Loans? Competitive fixed rate mortgages with up to 97% financing available. SONYMA Achieving the Dream. SONYMA 1 & 2 Person** 3 + Person** New & Existing New*** & Existing 3 Family Existing 4 Family Existing REGION COUNTY Low Interest Rate Program Income and Purchase Price Limits Effective Date: For Reservations Accepted July 25, 2022 and Until Further Notice INCOME LIMITS PURCHASE PRICE LIMITS. LOW INTEREST RATE MORTGAGE PROGRAM SELLER'S GUIDE PART I - GENERAL SECTION 1. 30-year fixed rate mortgage No points; Down payment requirement as low as 3% (and 3% down payment assistance available) Minimum cash contribution of 1% (3% for co-ops) Available for 1-4 family homes, cooperatives and condominiums; No prepayment penalties; 120-day interest rate locks for existing. • A low minimum borrower cash contribution requirement of 1% of the value of the property. SONYMA’s Conventional Plus Program is practically a one-stop shop for mortgage options. Interest Rate: Enter Current SONYMA Interest Rate: % View SONYMA programs and current interest rates. First-time homebuyers can buy an existing home and finance the cost of renovating it with one below-market fixed rate mortgage. Low Interest Rate Program. Ridgewood Savings Bank">Ridgewood Savings Bank. Available for homes located in the state of New York only. Rate-Lock Options The borrower has the option for 120-day interest rate locks for existing housing and 240-day rate locks for properties under construction, rehabilitation, or distressed sales. SONYMA’s Conventional Plus Program is practically a one-stop shop for mortgage options. Homes for Veterans is administered by the New York State office Homes and Community Renewal (HCR) through the State of New York Mortgage Agency (SONYMA). Benefits of a SONYMA Mortgage: 30-year fixed rate mortgage Purchase a single-family home or established condominium Down payment assistance Lower interest rates Max loan-to-value 97% *Loan-to-value is the ratio of how much you’re borrowing compared to how much the home is worth. Interest Mortgage Loans in New York. It’s 5 percent with down payment assistance. All SONYMA mortgage programs offered by KeyBank are subject to final approval by SONYMA. SONYMA sets DPAL limits to $3,000 or 3% of the home purchase price up to $15,000. Qualified home buyers get a favorable interest rate in SONYMA's Low Interest Rate Program. Down payment assistance up to the greater of $3,000 or 3%. SONYMA literature advises that interest rates with a first-time home buyer mortgage with a down payment loan “will be. the Remarketing Agent does not establish an interest rate, the Effective Rate on the Variable Rate onds shall be the interest rate as determined or caused to be determined on each applicable Rate Determination Date, at the expense of the Agency, by the Trustee to be the lesser of (i) the Rate Index plus 0. 240-day interest rate locks for properties lower. To learn more or get started, speak. The borrower has the option for 120-day interest rate locks for existing housing and 240-day rate locks for properties under construction, rehabilitation, or distressed sales. Rates In New York – Forbes Advisor">Current Mortgage Rates In New York – Forbes Advisor. KeyBank, Wednesday, January 25, 2023, Press release. As of Thursday, August 18, 2022, mortgage rates in New York were 5. All SONYMA mortgage programs offered by KeyBank are subject to final approval by SONYMA. A fixed-rate mortgage guarantees your monthly payments remain stable over the life of your loan so that you can plan without surprises. The State of New York Mortgage Agency (SONYMA) offers a low-interest rate program to first-time buyers. 30-year fixed-rate terms. Which start allows forward the purchase of 1-4 family homes, condominiums, co-ops, and manufacturing homes. 75% for a 5/1 adjustable-rate mortgage (ARM),. 375% lower than standard SONYMA interest rates for loans with down payment assistance. SONYMA’s Low Interest Rate Program is being offered with four. Down Payment Assistance Loan: A zero percent interest rate loan available for all buyers using a SONYMA mortgage program to provide initial funding, up to 3. This program is compatible with the SONYMA down payment assistance program. Rate-Lock Options The borrower has the option for 120-day interest rate locks for existing housing and 240-day rate locks for properties under construction, rehabilitation, or distressed sales. (t) Long-Term Lock-in Low Interest Rate Mortgage Program. Interest rates compare well with conventional lenders: The current interest rate for a SONYMA loan is 4. The Homes for Veterans Program offers fixed-rate mortgages with interest rates 0. Interest rate is. • A low minimum borrower cash. Low Interest Rate Program Income and Purchase Price Limits Effective Date: For Reservations Accepted July 25, 2022 and Until Further Notice INCOME LIMITS. SONYMA offers 30-year, fixed rate mortgages with long-term lock rates for first-time homebuyers with low to moderate income levels. 75% for a 5/1 adjustable-rate mortgage (ARM),. 30-year fixed rate mortgage. A: SONYMA's first time homeowner mortgages are often funded through the issuance of tax free mortgage revenue bonds. All SONYMA mortgage programs offered by KeyBank are subject to final approval by SONYMA. 120-day fascinate fee locks for actual housing. 30-year fixed rate mortgage No points; Down payment requirement as low as 3% (and 3% down payment assistance available) Minimum cash contribution of 1% (3% for co-ops) Available for 1-4 family homes,. Ridgewood Savings Bank Affordable MortgageRates. Like other SONYMA programs, this one. State of New York Mortgage Agency (SONYMA) Highlights of SONYMA: Down payment assistance As little as 3% down Competitive interest rates What is SONYMA? The State of New York Mortgage Agency (SONYMA) is a public authority that was established by the state government in 1970. SONYMA sets DPAL limits to $3,000 or 3% of the home purchase price up to $15,000. Up to $15,000 down payment assistance is available with a SONYMA mortgage. SONYMA offers low-interest rate mortgage loans and programs to help qualified buyers purchase their first home in the state of New York. Available to lower income first-time homebuyers. 375% with their Down Payment Assistance Program ($8,100) which will be forgiven in 10 years if we stay in the home. Minimum borrower cash contribution is only 1%, while the remaining 2% can be a gift or from another acceptable loan. 120-day interest rate locks for existing housing; 240-day interest rate locks for properties lower builder or rehabilitation, cooperatives or needed sales; Can be combined because another SONYMA special features; Other grants and subsidies can be included with no limit Interest Rates. As of Thursday, August 18, 2022, mortgage rates in New York were 5. down payment 3% View details Why We Like It Good for: Buyers who want to. Down Payment Assistance Loan: A zero percent interest rate loan available for all buyers using a SONYMA mortgage program to provide initial funding, up to 3 percent of the purchase price. SONYMA's core program, the Low Interest Rate Program is now being offered at a rate of 4 percent and it's Achieving the Dream Program, for low-income first-time homebuyers, is being offered at 3. 5 Best SONYMA Mortgage Lenders of 2022. State of New York Mortgage Agency (SONYMA) Loans. Best SONYMA Mortgage Lenders Read review Citibank: NMLS#412915 4. A few benefits of the program include: Interest rate is. This program allows for the purchase of 1-4 family homes, condominiums, cooperatives, and manufactured homes. SONYMA sets DPAL limits to $3,000 or 3% of the home purchase price up to $15,000. • 120 day interest rate locks for existing housing and completed new construction. Sight Present Interest Rates Available Loan Options plus. SONYMA also has a program that is available to veterans and active service members that provides a low-interest mortgage. Borrowers can put as little as 3% down and combine the loan with the agency’s down. You must cover at least 1% with cash, and a DPAL can cover the rest. 30-year fixed rate mortgage Nay total; Down payment requirement for low as 3% (and 3% down zahlung assistance available) Minimum metal contribution of 1% (3% for co-ops) Available to 1-4 family homes, cooperatives and condominiums; No prepayment penalties; 120-day interest rate locks for existing housing. PDF State of New York Mortgage Agency Low Interest Rate Mortgage Program. The effective interest rate that a borrower pays during the buydown period of the mortgage is reduced as a result of the deposit of a lump sum of money into a buydown account. SONYMA (Achieve the Dream) - 30 Year Fixed** 5. • Financing of up to 97% of the value of the property for qualified borrowers and homes. Loans are 30-year, fixed-rate mortgages and can be used to purchase one- to four-family homes, condos or co-ops. If you’re looking for a home that requires a loan amount above $726,200, we have options with loan amounts of up to $2,000,000. Your lender likely lists interest rates as an annual figure, so you’ll need to divide by 12, for each month of the year. President Luiz Inácio Lula da Silva renewed his criticism of Brazil’s central bank for failing to lower borrowing costs, saying Brazilian society can no longer stand the Selic benchmark rate at. Plus, a DPAL will slightly increase your mortgage interest rate. (a) Application The Participation Application from Seller in. Results: Maximum Affordable Mortgage (3) Monthly Principal and. SONYMA's core program, the Low Interest Rate Program is now being offered at a rate of 4 percent and it's Achieving the Dream Program, for low-income first-time homebuyers, is being offered at. Qualified borrowers are not required to be first-time buyers, but will need to meet other qualifications such as purchase price limits and income requirements. What are the benefits of SONYMA Loans? Competitive fixed rate mortgages with up to 97% financing available. Interest rate is. 25% or (ii) the Maximum Rate. Interest Rate: Enter Current SONYMA Interest Rate: % View SONYMA programs and current interest rates. Here are your picks for the Best of the Capital. Current Mortgage Rates In New York – Forbes Advisor. 375% below the already low interest rates charged on SONYMA mortgages with down payment assistance. Zero percent interest rate No monthly payments Forgiven after 10 years $1,000 minimum loan amount Maximum loan amount: 3 percent of purchase price (up to $15,000) or $3,000, whichever is. A portion of these funds are released each month to reduce the payment. Interest rates that are 0. Borrowers can put as little as 3% down and combine the loan with the agency’s down-payment assistance. Best SONYMA Mortgage Lenders Read review Citibank: NMLS#412915 4. SONYMA vs FHA (New York State Mortgage Options). You can use this program for a whole range of home types, ranging from single-family to four-family homes, cooperatives and condominiums. For more information, visit www. SONYMA 5. Interest Rate: Enter Current SONYMA Interest Rate: % View SONYMA programs and current interest rates. 50 % lower than standard interest rates for loans with down payment assistance (Follow guidelines for Achieving the Dream Mortgage and Construction Incentive Programs. 25% interest rate discount. Interest rates are 0. These loans are administered by the Federal Housing Administration (FHA), have a low 3. SONYMA Achieving the Dream. SONYMA at M&T is offering is 5. Low Interest Rate Program Features and Benefits. Down Payment Assistance Loan: A zero percent interest rate loan available for all buyers using a SONYMA mortgage program to provide initial funding, up to 3 percent of the purchase price. Lula Slams Brazil’s Interest Rates Saying They Hold Nation Back. The amount is forgiven if you stay in your home for at least 10 years. For more information, visit https://hcr. Low Interest Rate Program Features and Benefits. Low Interest Rate Program Features and Benefits 30-year fixed rate mortgage No points. 625 percent for buyers using the Achieve the Dream program and not requiring down payment assistance. SONYMA Low Interest Rate The Low Interest Rate program offers a mortgage loan with a 3% down payment requirement at a competitive interest rate. Here are some of the program's features: • Competitive fixed interest rate loans. 5% down payment, and can come from a family member, employer, or charitable organization as a gift. By using our programs, borrowers are receiving the benefit of a lower interest rate than the private market offers. Discount Points No points for either SONYMA program. One loan application, one closing date, and one set of closing costs to purchase and improve a house, condo or cooperative. Qualified home buyers get a favorable interest rate in SONYMA’s Low Interest Rate Program. org Mortgages KeyBank clients can get a. SONYMA rates on Friday were as low as 5. To apply to this or other programs run by SONYMA, contact one of the 50 or more lenders scattered throughout the Empire State. Here's a rundown of a few of SONYMA's most popular programs. Qualified home buyers get a favorable interest rate in SONYMA’s Low Interest Rate Program. SUPPLEMENTAL MATERIALS TUESDAY MAY 16, 2023 …. This is SONYMA’s lowest interest rate program. 38% for a 30-year fixed-rate mortgage, 4. Current Mortgage Rates with Jovia. 30-year fixed rate mortgage. Minimum borrower cash contribution is only 1%, while the remaining 2% can be a gift or from another acceptable. 5 NerdWallet rating National / regional National Min. SONYMA Low Interest Rate The Low Interest Rate program offers a mortgage loan with a 3% down payment requirement at a competitive interest rate. However, DPALs can’t exceed full down payment and closing costs. The rate you see advertised on SONYMA’s website—that’s the rate you get, as long as you qualify with the underwriting guidelines. New York Mortgage Calculator. SONYMA’s Conventional Plus program: This program combines 30-year fixed rate mortgages with. 5 NerdWallet rating National / regional National Min. Any taxing jurisdiction allowing the exemption may raise the exemption limit on eligible homes to an amount up to 125% of the purchase price limits set by the SONYMA Low Interest Rate Mortgage program in the non-target, one-family new category for the county where the property is located and in effect on the contract date for the purchase and …. Plus, a DPAL will slightly increase your. Current New York Mortgage and Refinance Rates. SUPPLEMENTAL MATERIALS TUESDAY MAY 16, 2023 10:30 A. Mortgage Rates in New York — Plus Stats. SONYMA literature advises that interest rates with a first-time home buyer mortgage with a down payment loan “will be. 375% lower than standard SONYMA interest rates for loans with down payment assistance; Available with down payment assistance of $3,000 or 3% of the home purchase price (not to exceed $15,000) No. SONYMA Loans To Help First Time Homebuyers">KeyBank To Offer SONYMA Loans To Help First Time Homebuyers. 38% for a 30-year fixed-rate mortgage, 4. Interest Rates Saying They Hold Nation ">Lula Slams Brazil’s Interest Rates Saying They Hold Nation. Benefits of a SONYMA Mortgage: 30-year fixed rate mortgage Purchase a single-family home or established condominium Down payment assistance Lower interest rates Max loan-to-value 97% *Loan-to-value is the ratio of how much you’re borrowing compared to how much the home is worth. SONYMA's core program, the Low Interest Rate Program is now being offered at a rate of 4 percent and it's Achieving the Dream Program, for low-income first-time homebuyers, is being offered at 3. Down payment assistance available up to the greater of $3,000 or of 3% of the home purchase price not to exceed the maximum of $15,000. Best SONYMA Mortgage Lenders Read review Citibank: NMLS#412915 4. State of New York Mortgage Agency (SONYMA) Highlights of SONYMA: Down payment assistance As little as 3% down Competitive interest rates What is SONYMA? The State of New York Mortgage Agency (SONYMA) is a public authority that was established by the state government in 1970. Down Payment Assistance Loans are available with this program for up to $3,000 or 3% of the purchase price (not to exceed $15,000), whichever is higher. Enter Current SONYMA Interest Rate: % View SONYMA programs and current interest rates. The Homes for Veterans Program offers fixed-rate mortgages with interest rates 0. KeyBank To Offer SONYMA Loans To Help First Time Homebuyers. Down payment assistance up to the greater of $3,000 or 3% of the home purchase price (not to exceed $15,000). 274 % APR* View More Rates Rates Current as of 5/10/2023 Home Buyer Assistance Programs SONYMA DPAL (Down Payment Assistance Loan) This grant provides up to 3% of purchase price for your down payment. STATE OF NEW YORK MORTGAGE AGENCY LOW …. Qualified home buyers get a favorable interest rate in SONYMA’s Low Interest Rate Program. Light Interest Rate Program Performance and Benefits 30-year fixed rate mortgage Cannot points. Zero percent interest rate No monthly payments Forgiven after 10 years $1,000 minimum loan amount Maximum loan amount: 3 percent of purchase price (up to $15,000) or. Each program features a below-market interest rate, low down payment requirements, no prepayment penalties, and offers closing cost assistance. Interest rate stays the same Payments will not change No pre-payment penalties Lower initial interest rate Payments may decrease Build equity faster Larger loan amounts For multi-family homes One loan for purchase and renovations Jovia Offers Jovia Offers Jovia Offers 15 Year Fixed 30 Year Fixed 7/1 Adjustable 10/1 Adjustable 15/1 Adjustable. Loans are 30-year, fixed-rate mortgages and can be used to purchase one- to four-family homes, condos or co-ops. The rate you see advertised on SONYMA’s website—that’s the rate you get, as long as you qualify with the underwriting guidelines. Rate-Lock Options The borrower has the option for 120-day interest rate locks for existing housing and 240-day rate locks for properties under construction, rehabilitation, or. 375% lower than standard SONYMA interest rates (for loans with down payment assistance). Features & Benefits Jumbo You can dream big. Low Interest Rate Program Features and Benefits. The program is available to anyone using a SONYMA mortgage program, including those programs already described in this article. SONYMA's standard mortgage program for a first-time homebuyer purchasing a newly constructed or existing home. the Remarketing Agent does not establish an interest rate, the Effective Rate on the Variable Rate onds shall be the interest rate as determined or caused to be determined on each applicable Rate Determination Date, at the expense of the Agency, by the Trustee to be the lesser of (i) the Rate Index plus 0. State of New York Mortgage Agency (SONYMA) Highlights of SONYMA: Down payment assistance As little as 3% down Competitive interest rates What is SONYMA? The State of New York Mortgage Agency (SONYMA) is a public authority that was established by the state government in 1970. Rate-Lock Options The borrower has the option for 120-day interest rate locks for existing housing and 240-day rate locks for properties under construction, rehabilitation, or distressed sales. Your lender likely lists interest rates as an annual figure, so you’ll need to divide by 12, for each month of the year. Paterson said, "Energizing New York's housing market is critical to revitalizing the State's economy. The loan has an interest rate of 4 percent with a 5-year term. 375% higher interest than SONYMA's. 30-year fixed rate mortgage Nay total; Down payment requirement for low as 3% (and 3% down zahlung assistance available) Minimum metal contribution of 1% (3% for co-ops). Down Payment Down payment requirement as low as 3%. With SONYMA RemodelNY you can pay for repairs and improvements at a much lower interest rate than conventional alternatives or credit card. 106 of this Seller's Guide sets forth how the Lock-in Fee will be collected and in what cases it may be forfeited by Seller or waived by SONYMA. SONYMA offers low-interest rate mortgage loans and programs to help qualified buyers purchase their first home in the state of New York. The State of New York Mortgage Agency said Tuesday it is offering record-low interest rates for two of its primary programs. Low Interest Rate Program Income and Purchase Price …. The Ultimate Guide to Home Loans for NYC Buyers. SONYMA offers 30-year, fixed rate mortgages with long-term lock rates for first-time homebuyers with low to moderate income levels. Homes for Veterans is administered by the New York State office Homes and Community Renewal (HCR) through the State of New York Mortgage Agency (SONYMA). These loans offer 0% interest, no monthly payments, are forgiven after 10 years, and range from $1,000 and up to 3% of the purchase price of a home (up to $15,000). It’s designed for borrowers who need help qualifying for a 30-year fixed rate mortgage as well as those. Here are some of the program's features: • Financing of up to 97% of the value of the property for qualified borrowers and homes. of New York Mortgage Agency (SONYMA). 375% lower than standard SONYMA interest rates on loans. Worksheet and Rate Certification (Form 238; Exhibit L) that it is obligated, as of said date, to remit to SONYMA the Lock-in Fee. Interest rates can be high, though they do vary by loan amount and home size. The program lets you lock in an interest rate for 120 days for. Learn More VA Loans VA loans are guaranteed and administered by the Department of Veterans Affairs. SONYMA at M&T is offering is 5. SONYMA Achieving the Dream. 30-year fixed-rate terms. SONYMA’s Conventional Plus Program is practically a one-stop shop for mortgage options. State of New York Mortgage Agency (SONYMA). “SONYMA” shall mean the State of New York Mortgage Agency, a corporate governmental Interest Rate to be borne by or the Index Adjustment Factor or Index Percentage with respect to 202_ Series __-__ onds in accordance with this Section shall be conclusive and binding on the ondholders of. Down payment requirement as low as 3% (and 3% down paid support available) Minimum cash contribution of 1% (3% for co-ops) Present on 1-4 family homes, coops and condominiums. The Homes for Veterans Program offers fixed-rate mortgages with interest rates 0. With SONYMA RemodelNY you can pay for repairs and improvements at a much lower interest rate than conventional alternatives or credit card. So, if your rate is 5%, then the monthly rate will look like this: 0. New York Homes for Veterans Program (SONYMA). SONYMA also has a program that is available to veterans and active service members that provides a low-interest mortgage. Interest rates that are 0. Features the lowest interest rate of all SONYMA programs. SONYMA highlights Both the Achieving the Dream and Low-Interest Rate programs deliver enticing perks for first-time homebuyers, including the following: Financing of up to 97% of the value of. And borrowers must take on a minimum 3. Discount Points No points for either SONYMA program. To learn more or get started, speak with our Mortgage Consultants today. SONYMA’s Low Interest Rate program: The State of New York Mortgage Agency (SONYMA)’s low interest rate mortgage program for first-time buyers has down payment requirements as low as 3% and competitive interest rates. Here's a rundown of a few of SONYMA's most popular programs. This benefit is "recaptured" in certain instances through higher Federal income taxes in the year you sell or. Interest rates are 0.