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William Mulrow and SONYMA: Helping Veterans and Military Personnel

As someone with experience in public finance and investment banking, William Mulrow knows the difficulties involved in securing financing for businesses. On a smaller scale, obtaining financing to purchase a home can be just as difficult for first-time homebuyers as it is for corporations financing a major expansion or merger.

The State of New York Mortgage Agency (SONYMA) was created by the New York legislature to offer financing assistance to first-time homebuyers in the state. SONYMA also offers assistance to veterans and active duty military personnel. Other programs offer prospective homeowners money to buy and renovate homes, construction or rehabilitation loans, and loans that target low income first-time buyers.

Under the SONYMA mortgage programs, the actual lender of the mortgage loan is a bank or mortgage lender authorized to participate in the SONYMA programs. In return for offering loans under the guidelines and interest …

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