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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), the State of New York Mortgage Agency (SONYMA) and the New York State Affordable Housing Corporation (AHC).

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 to provide for their financing. 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.