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About: State of New York Mortgage Agency     Goto   Sponge   NotDistinct   Permalink

An Entity of Type : yago:WikicatPublicBenefitCorporationsInNewYork, within Data Space : dbpedia.org associated with source document(s)

Type: yago:Abstraction100002137yago:Business108061042yago:Corporation108059412yago:Enterprise108056231yago:Firm108059870yago:Group100031264yago:Organization108008335yago:YagoLegalActoryago:YagoLegalActorGeoyago:YagoPermanentlyLocatedEntityorganisationyago:SocialGroup107950920yago:WikicatPublicBenefitCorporationsInNewYork New Facet based on Instances of this Class

The State of New York Mortgage Agency (SONYMA) is a New York State public-benefit corporation created in 1970 by the state government of New York to provide affordable homeownership to low- and moderate-income New Yorkers. It offers affordably priced fixed-rate mortgages through several mortgage programs for eligible homebuyers. Each program offers competitive interest rates, low down payments, down payment assistance and no prepayment penalties. SONYMA offers its programs through a network of participating lenders throughout New York state who contract with the agency to offer SONYMA's programs to their customers. The mortgage loans are purchased from the lenders by SONYMA, which funds the purchases by issuing tax-exempt bonds. In 2017, it had operating expenses of $62.57 million, an outs