What are the benefits of developing a project in a Target Area?
Federal law provides certain special incentives for applicants purchasing homes in Federally designated Target Areas. SONYMA is committed to helping rebuild these neighborhoods. The incentives are as follows: • Applicants do not have to be first-time homebuyers; • Household income and home purchase price limits are higher; and • Two-family newly constructed homes are eligible. To find out if a property is located in a target area, call SONYMA’s Information Center at 1-800-382-HOME (4663) with the exact street address, city or town, and zip code.
