Chyrisse, one of the things that can take a long time with SONYMA is that there are so many extra documents that are required. The rate is locked for 100 days, and I like to tell people that it is because that is how long it can take. There are some very specific requirements also about dating of the contract, and when other documents can be dated, or when the appraisal can be ordered. The limited number of lenders who offer SONYMA also can make a difference.
Mark, SONYMA, is the State of New York Mortgage Agency and it offers six mortgage programs as well as mortgage credit certificates to assist with the purchase of a home--Chyrisse, If all the paperwork is in order the loan will add about a week or so to the processing time of a conventionally processed loan--your agent and or your attorney, should have a better idea as to where you are in process and the approximate remaining time til closing.