Tuesday, October 19, 2010

Interest Rates are Low

The State of New York Mortgage Agency (SONYMA) now has the lowest interest rates ever offered in 40 years. SONYMA's Low Interest Rate Program is at a rate of 4% and it's Achieving the Dream Program, for low-income first-time homebuyers, is at 3.5%!

SONYMA is dedicated to providing affordable home ownership opportunities to low- and moderate-income families in the State of New York by offering competitively-priced mortgages. SONYMA was created in 1970 with the mission of helping low- and moderate- income families become homeowners. It offers a variety of low down payment mortgages that provide below-market fixed interest rates, as well as closing cost assistance through a network of participating lenders across the state.

SONYMA offers six mortgage programs as well as mortgage credit certificates to assist you with the purchase of a home in New York State.  Each mortgage program features a competitive interest rate, low down payment requirements, no prepayment penalties and down payment assistance, while the mortgage credit certificates offer a federal income tax credit.  Each of these features are designed to make your home purchase more affordable.

For more information:


Visit www.triponline.org for more information about TRIP's HomeOwnership Center and how we can help you purchase a home.

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