The State of New York Mortgage Agency, more commonly referred to as SONYMA, is a public authority that was established in the year 1970 in an attempt to provide reasonable and affordable home-ownership opportunities to low and moderate income New Yorkers, especially to first time home buyers.
The Down Payment Assistance Loan Program aims to assist first time home buyers in the process of securing their down payment and closing costs through the acquisition of a second mortgage plan which can be used simultaneously with any available SONYMA first time home buyer program.
Since then, SONYMA has been successfully offering mortgage programs as well as mortgage credit certificates that will assist first time home buyers in the process of purchasing a house in the State of New York.
In line with this, The State of New York Mortgage Agency has been running the Down Payment Assistance Loan Program (DPAL) wherein it intends to help first time home buyers overcome the setbacks brought about by down payments and closing costs.
Admittedly, two of the major hurdles that an individual faces when buying a home are the down payment and closing costs. Down payments, as defined in the SONYMA glossary, is the "part of the purchase price of a property that the buyer pays in cash and does not finance with a mortgage."
Nursing Degree Applications Up, But Demand Still Exceeds Supply For the fifth year in a row, applications have increased for schools offering a nursing degree according to American Association of Colleges of Nursing. Unfortunately this continuing increase still c... Justice and Mental Health Collaboration Training and Technical Assistance Program In line with this mission, the Office of Justice Programs has recently established the Justice and Mental Health Collaboration Training and Technical Assistance Program (JMHCP), wherein it seeks to increase public safety by encouraging collaboration between criminal justice, juvenile justice, and mental health and substance abuse treatment systems. 2012 Tuberous Sclerosis Complex Clinical Trial Award Program In line with this mission, the United States Department of Defense has recently established the 2012 Tuberous Sclerosis Complex Clinical Trial Award Program in an attempt to financially support the studies regarding the promotion innovative research focused on decreasing the clinical impact of tuberous sclerosis complex (TSC). Using DNA Technology to Identify the Missing Program In keeping with this mission, the Office of Justice Programs has recently announced the establishment of Using DNA Technology to Identify the Missing Program. Secondary Market Lending Authority Program The Small Business Administration has constituted the Secondary Market Lending Authority program, one which aims to provide liquidity for the secondary market, thereby ultimately encouraging new lending opportunities from banks of Small Business Administration guaranteed loans. Small Business Administration Background The Small Business Administration was established in 1953. Since that time the agency has dispensed millions of dollars in loans and loan guarantees, contracts, consulting assistance and other programs for small business across the United States. How to Get a Government Home Loan with Low or Moderate Income The government provides loans to those individuals who have low to moderate income for permanent residence in rural areas. To qualify for these government loans is not that hard and the restrictions ...