Expands eligibility for the low interest rate program of the state of New York mortgage agency to certain graduates of post secondary programs or.

Expands eligibility for the low interest rate program of the state of New York mortgage agency to certain graduates of post secondary programs or comparable apprenticeship and workforce training programs for the purchase of certain property. This bill amends the real property tax law to include a new section that allows eligible individuals to benefit from a reduced interest rate on thirty-year mortgages for a period of ten years. The reduced rate is 1.5 percent lower than the standard interest rate offered to all other participants in the low interest rate program.

Expands eligibility for the low interest rate program of the state of New York mortgage agency to certain graduates of post secondary programs or.

Expands eligibility for the low interest rate program of the state of New York mortgage agency to certain graduates of post secondary programs or comparable apprenticeship and workforce training programs for the purchase of certain property. This bill amends the real property tax law to include a new section that allows eligible individuals to benefit from a reduced interest rate on thirty-year mortgages for a period of ten years. The reduced rate is 1.5 percent lower than the standard interest rate offered to all other participants in the low interest rate program.