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)

New York State Housing Finance Agency

The New York State Housing Finance Agency is a New York State public authority created in 1960 to build and preserve affordable multifamily rental housing throughout New York State. HFA sells bonds and uses the proceeds to make mortgages to affordable housing developers.Developers can take...

, the State of New York Mortgage Agency (SONYMA)

State of New York Mortgage Agency

The State of New York Mortgage Agency is a public authority 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...

 and the New York State Affordable Housing Corporation (AHC)

New York State Housing Finance Agency

The New York State Housing Finance Agency is a New York State public authority created in 1960 to build and preserve affordable multifamily rental housing throughout New York State. HFA sells bonds and uses the proceeds to make mortgages to affordable housing developers.Developers can take...

.

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

Bond (finance)

In finance, a bond is a debt security, in which the authorized issuer owes the holders a debt and, depending on the terms of the bond, is obliged to pay interest to use and/or to repay the principal at a later date, termed maturity...

 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)
  State of New York Mortgage Agency
  The State of New York Mortgage Agency is a public authority 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...
  
  
• New York State Housing Finance Agency (HFA)
  New York State Housing Finance Agency
  The New York State Housing Finance Agency is a New York State public authority created in 1960 to build and preserve affordable multifamily rental housing throughout New York State. HFA sells bonds and uses the proceeds to make mortgages to affordable housing developers.Developers can take...
  
  

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)