Eligibility: Targets first-time homebuyers (no homeownership in the past three years) with low to moderate income.
Benefits: Offers up to $30,000 (standard and DPAL PLUS ATD) or 20% of the purchase price (whichever is less) as a 0% interest deferred loan (repayable upon sale or refinance); available with all SONYMA mortgages.State of New York Mortgage Agency (SONYMA) Programs:
Achieving the Dream:
Offerings: Provides a 30-year fixed-rate mortgage (FHA, VA, USDA, or conventional) with low interest rates; can be paired with down payment assistance.
Requirements:
Down Payment Assistance Loan (DPAL):
Eligibility: Must use a SONYMA first mortgage; income and purchase price limits apply (same as Achieving the Dream).
View First-Time Home Buyer Programs for: North Carolina