Nyhomes

nyhomes is New York State's affordable housing lender. Its mission is to expand affordable housing opportunities for low- and moderate-income New Yorkers. “nyhomes” consists of three state agencies: the New York State Housing Finance Agency (HFA), the State of New York Mortgage Agency (SONYMA) and the New York State Affordable Housing Corporation (AHC).

Together, “nyhomes” finances single-family residential mortgages, multifamily lending housing programs and mortgage insurance for both single-family and multifamily housing. It also provides grants to local governments and not-for-profit organizations to subsidize the construction of new housing and renovation of existing housing for eligible New Yorkers.

HFA and SONYMA are self-funded and do not rely on taxpayer funds. Both agencies issue tax-exempt bonds to provide for their financings. AHC funds are appropriated as part of the State’s annual budget. Funds for SONYMA’s Mortgage Insurance Fund are generated from a portion of the state’s mortgage recording tax surcharge.

See also

• State of New York Mortgage Agency (SONYMA)
• New York State Housing Finance Agency (HFA)

References

• "Housing Agencies 'Merge'", The Bond Buyer, June 15, 2009

• New York State Economic Recovery and Reinvestment Cabinet

External links

• nyhomes.org
• BridgehamptonHomes.org
• About the State of New York Mortgage Agency (SONYMA)
• About the New York State Housing Finance Agency (HFA)
• About the New York State Affordable Housing Corporation (AHC)