New York State · Subsidized loan

SONYMA Low Interest Rate

Below-market 30-year fixed rate

Competitive fixed rate, 3% down, works on 1-4 family homes, condos, co-ops, and manufactured homes.

SONYMA's Low Rate program offers below-market first mortgage rates for qualifying New York buyers. The rate reduction compounds over 30 years into significant savings. Pairs with SONYMA's DPA options for combined benefits.

AmountBelow-market 30-year fixed rate
TypeSubsidized loan
Available inNew York
First-time buyer requiredYes
Minimum credit score620
Multi-unit eligibleYes — 1-4 units

House-hack eligible

2-4 family homes eligible if 5+ years old. Strong house-hack path for NY buyers.

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 Achieving the Dream Below-market rate + 1% minimum out of pocket
New York State · Subsidized loan
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Get your free stacking strategy

We'll show you how to combine SONYMA Low Interest Rate with other programs to maximize your free money — personalized to your ZIP code and income.

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