Home for Veterans Program-NYSHCR Article-March 21, 2014

Home for Veterans Program
New York State Homes & Community Renewal

SONYMA, in conjunction with the New York State Department of Veterans’ Affairs, is pleased to offer the Homes for Veterans Program that will enable more U.S. military veterans and active duty U.S. military personnel to buy their first home (or move to a different home if you are a U.S. military veteran). A change in Federal law enables SONYMA to waive the first-time homebuyer requirement for any veteran (and their spouse or co-borrower) who:
Served in active military, naval, or air service; and
Has been discharged or released from their military duties under conditions other than dishonorable.
Or any first time homebuyer may take advantage of the program benefits if they are:
A U.S. military personnel stationed in New York State, regardless of discharge status;
An active or honorably discharged National Guardsman and reservists.
Features and requirements of the Homes for Veterans Program.
Current interest rates for the Homes for Veterans Program.
Down payment assistance is available for the Home for Veterans Program. Learn more about Down Payment Assistance Loan (DPAL).
SONYMA offers a mortgage product that finances both the purchase and renovation of a home in need of improvements or repairs.
Learn about SONYMA’s Own it, Fix it New York! Home Mortgage.
To apply for a SONYMA loan you must contact one of our Participating Lenders, located statewide, offering the Homes for Veterans Program. SONYMA’s Participating Lender list.