BEST OF
5 Best SONYMA Mortgage Lenders of 2021
SONYMA programs help first-time home buyers in New York achieve their goal. These are some of the best SONYMA lenders, as determined by NerdWallet.
The State of New York Mortgage Agency helps first-time home buyers in the Empire State move up to homeownership. Working with local lenders, SONYMA offers reduced interest rates, lower down payments and forgivable loans to assist with closing costs.
While there are many lenders that participate in SONYMA programs, these are among the highest rated, as determined by NerdWallet.
The State of New York Mortgage Agency helps first-time home buyers in the Empire State move up to homeownership. Working with local lenders, SONYMA offers reduced interest rates, lower down payments and forgivable loans to assist with closing costs.
While there are many lenders that participate in SONYMA programs, these are among the highest rated, as determined by NerdWallet.
Summary of Best SONYMA Mortgage Lenders of 2021
| Lender | NerdWallet Rating | National / Regional | Minimum Down Payment | Learn More |
|---|---|---|---|---|
Best for traditional lending | National | 3% | Read review | |
Best for nonbank loan products | National | 5% | at loanDepot | |
Best for government-backed loans | National | 3% | Read review | |
Best for customer service | National | 3% | at Fairway Independent Mortgage | |
National | 3% | Read review |
Citibank: NMLS#412915
National / Regional
Min. Down Payment
at loanDepot
loanDepot: NMLS#174457
Min. Credit Score
Min. Down Payment
at loanDepot
HomeBridge: NMLS#6521
Min. Credit Score
Min. Down Payment
at Fairway Independent Mortgage
Fairway Independent Mortgage: NMLS#2289
Min. Credit Score
Min. Down Payment
at Fairway Independent Mortgage
Wells Fargo: NMLS#399801
Min. Credit Score
Min. Down Payment
More SONYMA participating mortgage lenders
These lenders are among the highest-volume SONYMA participating mortgage companies in New York state. The lenders have not been reviewed by NerdWallet.
Over 100 loan officers in New York state.
Earn an interest rate discount with automatic payments from your Citizens Bank checking account.
A dedicated loan officer walks you through the loan process.
Based in Buffalo with a long history in New York: It was established in 1892.
An online application offers “instant preapprovals.”
Personalized interest rates are available after providing basic information.
Offices in metro New York City and Long Island.
The matched savings program offers up to $7,500 in financial assistance to first-time home buyers.
International borrowers have access to a mortgage services program.
Headquartered in Albany, with branches in Lagrangeville and North Syracuse.
An online application allows you to stop anytime and start where you left off later.
After submitting a loan application, you can check your loan status online.
Last updated on January 4, 2021
Methodology
NerdWallet's star ratings for mortgage lenders are awarded based on our evaluation of the products and services each lender offers to consumers who are actively shopping for the best mortgage. The five key areas we evaluated include the variety of loan types and products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available Home Mortgage Disclosure Act data. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.
To recap our selections...
NerdWallet's Best SONYMA Mortgage Lenders of 2021
- Citibank: Best for traditional lending
- loanDepot: Best for nonbank loan products
- HomeBridge: Best for government-backed loans
- Fairway Independent Mortgage: Best for customer service
- Wells Fargo
