New York State First-Time Home Buyer Programs of 2023
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The State of New York Mortgage Agency, or SONYMA, offers special programs to qualified first-time home buyers who want to purchase a home in state. If you haven’t owned a primary residence during the past three years, SONYMA considers you a first-time home buyer.
SONYMA highlights and eligibility requirements
SONYMA programs are offered to New York state first-time home buyers, as well as repeat buyers purchasing in a federally designated target area.
Highlights
Down payment assistance is offered.
Additional funds may be available for repairs and remodeling through the RemodelNY program.
Options for single-family and multiunit properties, including condos and co-ops.
Three programs specific to East Buffalo residents: Buffalo East Homeowner Assistance Fund, Buffalo East Homeowner Improvement Program and East Buffalo Down Payment Assistance Plus Program.
Eligibility
Must meet county limits on household income and purchase price.
Credit requirements vary by program.
Borrower cash contribution of 1%-3% of purchase price.
Must attend a home buyer education course.
Additional requirements apply when purchasing a condo or co-op unit.
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