SONYMA Repayable Second Lien (RSL) Program

State of New York Mortgage Agency offers Repayable Second Lien (RSL) Program to home buyers in New York: up to 5% of the price, as a deferred loan.

Amount: Up to 5% of the price
Kind of help: Deferred loan
First-time buyers only: No

How is SONYMA Repayable Second Lien (RSL) Program paid back?

Deferred loan: 0% loan with no monthly payments. You repay it when you refinance or pay off your main home loan.

A deferred loan costs nothing each month, but the whole amount is due when you sell, refinance or pay off the first mortgage.

Who qualifies for SONYMA Repayable Second Lien (RSL) Program?

Same as the SONYMA home loan it comes with, set by program and region from HUD's income limits.
You don't have to be a first-time buyer.
It comes with any SONYMA first mortgage.

The exact income limit for your county and household size is on the agency's income chart. Our HUD income limits lookup shows your area's median income.

How to apply for SONYMA Repayable Second Lien (RSL) Program

State of New York Mortgage Agency pays this help out through its approved lenders, so you apply with one of them, together with your home loan.
The lender checks your income, credit and the home against the program's rules and reserves the money for you.
The help is paid at closing, toward your down payment and closing costs.

Read the full rules and whether it is taking applications on State of New York Mortgage Agency's page for Repayable Second Lien (RSL) Program.

Ask a lender about SONYMA Repayable Second Lien (RSL) Program

Tell us where you're buying and a lender that works with New York's programs can tell you whether SONYMA Repayable Second Lien (RSL) Program fits you, and what you could combine with it.

Call 866-602-7460

Rather not call? Send your details and the lender will reach you.

Other first-time buyer programs in New York

SONYMA Down Payment Assistance Loan (DPAL): up to 3% of the price, at most $15,000, forgivable loan.
SONYMA DPAL PLUS: up to $30,000, forgivable loan.

All New York first-time home buyer programs · Down payment assistance in every state