State of New York

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Formed in 1970, The State of New York Mortgage Agency provides safe, low interest fixed-rate mortgages, down payment assistance and other programs specifically designed to help low/moderate income families to become homeowners. Formed in 1970, the company offers mortgage insurance to lenders of multifamily housing. It also provides six mortgage programs, as well as mortgage credit certificates to assist first-time homebuyers to purchase a home in New York State. The mortgage programs offered by the agency are Homes for Veterans, Remodel New York, Achieving the Dream, Construction Incentive and Low Interest Rate Mortgage Program. It additionally gives special incentives to prospective homebuyers interested in purchasing a home in a Federally designated Target Area, which are areas considered economically distressed.