What types of properties are eligible for SONYMA financing?
Depending on the program, eligible property types are: • Existing or newly constructed one-family homes (including condominiums, PUDs, homeowners’s associations, and cooperatives); • Existing two- , three- , or four-family homes that are at least five years old as of the loan application date and have been used only as a residence during the past five years, or; • Two-family homes located in a Target Area that are newly constructed or were constructed within the five years prior to the SONYMA loan application date.
