New York State First-Time Home Buyer Programs of 2023

Abby Badach Doyle
By Abby Badach Doyle 
Updated
Edited by Johanna Arnone
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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

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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