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SONYMA - Homes for Veterans Program
SONYMA, in conjunction with the New
York State Department of Veterans' Affairs and M&T Bank, is
pleased to offer the Homes for Veterans Program that will enable
more U.S. military veterans to buy their first home or move to
a different home. SONYMA has committed $10.6 million to the program.
A recent change in Federal law enables SONYMA to waive the first-time
homebuyer requirement for any veteran (and their spouse or co-borrower)
who:
- Served in active military, naval, or
air service.
- Has been discharged or released from
their military duties under conditions other than dishonorable.
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Features and requirements of the Homes
for Veterans Program.
The Homes for Veterans Program features
the following:
- Veterans, and their spouses or co-borrowers,
need not be a first-time homebuyer.
- Interest rates that are 0.50%
lower than our standard interest rates (for loans with closing
cost assistance).
- Closing cost assistance up to the greater
of $5,000 or 5% of the requested loan amount.
- No points or origination
fees.
- Minimum borrower cash contribution
only 1% (the remaining 2% can come from a gift or other acceptable
source).
Applicants can apply for any currently
available SONYMA programs. To learn more about each of the below
programs, click
on
the program listed:
The Mid-Island Mortgage Corp. Difference.
What separates Mid-Island Mortgage Corp. from everyone else is our solid track record and proven stability since 1959. Mid-Island Mortgage Corp. is your personal mortgage banker, regardless of trends and market cycles. While many of the new players to the home mortgage field have abandoned the community, chasing the next "hot market" to take advantage of, Mid-Island Mortgage Corp. is still happily serving you, your family and your neighbors.
Our commitment to the thousands seeking the dream of home ownership is one of the many reasons we say "you always have a home with us!"
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