# NY SONYMA Mortgage Loans..

**URL:** <https://forums.speedlife.net/t/ny-sonyma-mortgage-loans/40400>\
**Category:** NYSpeed Off Topic\
**Created:** [December 17, 2007, 1:22pm UTC](https://forums.speedlife.net/t/ny-sonyma-mortgage-loans/40400 "2007-12-17T13:22:46Z")\
**Posts on this page:** 1\
**Showing post:** 8

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**Author:** ![JayS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jays/32/15375_2.png) [@JayS](https://forums.speedlife.net/u/JayS)\
**Post date:** [December 17, 2007, 1:50pm UTC](https://forums.speedlife.net/t/ny-sonyma-mortgage-loans/40400/8 "2007-12-17T13:50:37Z")

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> [@87FOXGT](#):
>
> Nice. Are there any good first time homebuyer programs out there if you make more than that?

FHA if you’re looking to do a real low down payment. They have income limits and home cost limits as well, but they’re higher than SONYMA. Also shop around the private banks. I’m pretty sure Nikuk found a bank with a great low down payment option and none of the BS hoops to jump through that the government programs have.

The wife and I did an FHA loan when we bought our house then re-financed 3 years later to a traditional 30 year for a lower rate. As a bonus we used the appreciated value on the house to get out of paying PMI.

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