Homes for Veterans Program


This program, through the State of New York Mortgage Agency (SONYMA), offers fixed-rate mortgages with interest rates 0.375% below the already low-interest rates charged on SONYMA mortgages with down payment assistance.

The Homes for Veterans Program features the following: 

  • Veterans and their spouses or co-borrowers need not be first-time homebuyers.
  • Interest rates that are 0.375% lower than standard SONYMA interest rates (for loans with down payment assistance). 
  • Down payment assistance up to the greater of $3,000 or 3% of the home purchase price (not to exceed $15,000).
  • No points or origination fees. 
  • Minimum borrower cash contribution is only 1% (the remaining 2% can come from a gift or other acceptable source).


The Veteran must have served in the active military and been discharged under conditions other than dishonorable. 

  • You must be either a U.S. military veteran or active duty serviceperson and be able to provide the following documentation with your application:
    • DD214 – Certificate of Release or Discharge from Active Duty or NGB Form 22 – Report of Separation and Record of Service
    • Leave and Earning Statement (required for all active duty U.S. military personnel)
    • Military ID Card (required for ALL active duty U.S. military personnel)
  • Military Veteran's Eligibility Affidavit (SONYMA Form 243) is required only if an eligible veteran or their spouse or co-borrower is not a first-time homebuyer

In addition, any active duty service members, honorably discharged National Guardsmen, or honorably discharged Reservists, who are first-time homebuyers may take advantage of the program benefits if they are:

  • A U.S. military personnel (including those currently serving in the reserves) stationed in New York State, regardless of discharge status)
  • An active or honorably discharged National Guardsman
  • An active or honorably discharged Reservist


To apply for a SONYMA loan, you must work with one of their participating lenders. Have a look at SONYMA's participating lender list to find the one that’s right for you.

Contact Assistance

If you need assistance, or just want to learn more about the benefits and services you may be eligible for, schedule an appointment with one of our Veterans Benefits Advisors, all Veterans themselves.

  • Call 1-888-838-7697 to speak to an advisor.
  • Schedule a phone or video consultation online.
  • Use our search to find a Services Office near you.