The State of New York Mortgage Agency (SONYMA) is using federal stimulus support to offer reduced affordable housing loans to qualified first time buyers through the SONYMA Low Interest Rate Program. Buyers who have not owned a home in the past three years, and whose income does not exceed maximum household income limits, are eligible for the 30 year-4.75% loans. A spokesman for SONYMA noted that program demand is at its highest point in the past 12 years.