New York Mortgage Loans ( NY Mortgage )

There are many mortgage loan programs available in the state of New York. Some of the more common loan programs available for refinance or purchase are:

- 100% Financing
- 80/20 No MI
- 115% Cash Out Refinance
- First Time Home Buyer Programs
- Fannie Mae & Freddie Mac Loan Programs
- 40 Year Mortgage
- Non Conforming (Impaired Credit)
- Stated Income (No Income Verification)
- Bankruptcy Buyout
- Multi Unit Programs

Many other loan programs are available. If you have any questions about a loan program feel free to contact a mortgage consultant at or via email

The "State of New York Mortgage Agency" (SONYMA) also offers 4 different programs to help purchase homes in NY. Each program consists of low downpayment requirements, below-market interest rates, no prepayment penalties, and offers closing cost assistance. SONYMA mortgages are financed by tax exempt bonds.

The 4 SONYMA programs are:

Achieving the Dream
For lower income first-time homebuyers. This program the lowest interest rate of all SONYMA programs.

Remodel New York
First-time homebuyers can purchase a home and finance the renovation with a below market fixed-rate mortgage.

Construction Incentive Program
First-time homebuyers can purchase a newly constructed home. 100% financing with a stepped interest rate that is lower for the first 4 year's payments.

Low Interest Rate Program
SONYMA's program for a first time homebuyers purchasing an existing or newly constructed home.

One of the most popular options on loans in the state of New York today is the minimum payment option or 1% mortgage, which can be fixed, adjustable, or a hybrid of the two, and is available statewide.