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Updated almost 6 years ago,

User Stats

50
Posts
11
Votes
Alexander George
  • Rental Property Investor
  • Greater NYC Areas, NY
11
Votes |
50
Posts

SONYMA "Low Interest Rates" Mortgage NY

Alexander George
  • Rental Property Investor
  • Greater NYC Areas, NY
Posted

I have been doing some research for financing options of a duplex on Long Island. NY has the SONYMA program: http://www.nyshcr.org/Topics/Home/Buyers/SONYMA/Lo...  

Is anyone able to lend some insight on these products, such as; what are the terms of occupancy for the borrower? 

The site only says that the borrower must "Occupy the SONYMA-financed home as their permanent residence." However, it does not provide any greater detail.