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The New York State Division of Housing and Community Renewal (DHCR) is an agency of the New York state government [1] responsible for administering housing and community development programs to promote affordable housing, community revitalization, and economic growth. Its primary functions include supervising rent regulations through the State ...
New York: The State of New York Mortgage Agency offers low-interest mortgage loans to qualified first-time buyers. Tennessee: The New Start Loan Program helps very-low-income and low-income ...
The State of New York Mortgage Agency (SONYMA or Sonny Mae) 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. [1] [2] It offers affordably priced fixed-rate mortgages through several mortgage programs for eligible homebuyers.
HFA and its subsidiaries are now administered by New York State Homes and Community Renewal, [4] created in September 2010 to include the New York State Division of Housing and Community Renewal. In 2017, the HFA had operating expenses of $368.76 million, an outstanding debt of $16.780 billion, and a staffing level of 263 people. [5]
FHA loan: Insured by the Federal Housing Administration, FHA loans allow you to buy a home with a minimum credit score of 580 and as little as 3.5 percent down, or a credit score as low as 500 ...
Since 2008, loan originators have been subject to stricter state licensing and other requirements, including the mandate to act in the best interests of borrowers whenever possible.
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