New York State · Subsidized loan

SONYMA Achieving the Dream

Below-market rate + 1% minimum out of pocket

Lowest SONYMA rates. 30-year fixed, 3% down (only 1% from you). For low-income first-time buyers.

The New York State DPA program provides assistance for first-time buyers purchasing across the state. The program pairs with competitive first mortgage rates and works with standard loan products. New York's diverse housing markets — from expensive NYC to affordable upstate communities — all benefit from state-level DPA.

AmountBelow-market rate + 1% minimum out of pocket
TypeSubsidized loan
Available inNew York
First-time buyer requiredYes
Minimum credit score620
Multi-unit eligibleYes — 1-4 units

House-hack eligible

1-4 family homes eligible. Combine with DPAL for down payment coverage.

Programs that pair with this

FHA Loan Saves ~$33,000 on a $200K home vs 20% down
Federal · Subsidized loan
VA Loan $0 down + no monthly mortgage insurance
Federal · Federal benefit
NACA Program $0 down + $0 closing + $0 PMI + below-market rate
National · Nonprofit program
SONYMA DPAL $15,000
New York State · Forgivable loan
SONYMA DPAL Plus $30,000
New York State · Forgivable loan
SONYMA Low Interest Rate Below-market 30-year fixed rate
New York State · Subsidized loan
All New York programs →

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