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SONYMA DPAL PLUS

Administered by:
State of New York Mortgage Agency (SONYMA)
 · State · Forgivable Loan
Funding status: Active

How much assistance

Up to $30,000
Zero-interest with no monthly payments. Forgiven in equal monthly installments over 10 years (120 months) of owner-occupancy.

Eligibility

  • Income limits: Must meet lower-income thresholds set by SONYMA. Varies by county and household size.
  • First-time buyer required: Yes — Must not have owned a home in the past 3 years.
  • Geographic restrictions: Must purchase within New York State. Must be used with a SONYMA Achieving the Dream mortgage. Funds used to pay down payment and closing costs until first mortgage reaches 80% LTV.
  • Homebuyer education required: Yes

How to Apply for SONYMA DPAL PLUS

Contact a SONYMA-approved participating lender. Complete homebuyer education through a SONYMA-approved housing counseling agency. Apply for a SONYMA Achieving the Dream mortgage with the DPAL PLUS add-on.

Learn More About Homebuying in New York

Cities Where This Program Is Available (39 cities across 1 state)

New York (39 cities)

Available Statewide In