SONYMA Achieving the Dream Mortgage

About This Program

Low-income first-time homebuyer program offering 30-year fixed-rate mortgages with just 3% down (1% from buyer). Down Payment Assistance Loan (DPAL) provides $3,000-$15,000 standard or up to $30,000 via DPAL Plus, fully forgiven after 10 years.

97% financing; DPAL forgiven after 10 years of occupancy

Key Details

• First-time homebuyers with low income
• 30-year fixed rate with only 1% out-of-pocket
• DPAL: 3% of price up to $15,000
• DPAL Plus: up to $30,000 (20% of price)
• Loans forgiven after 10 years of occupancy

How to Apply

Deadline: Ongoing — apply through participating lender