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What other eligibility requirements apply to newly constructed housing?

April 26, 2017constructed eligibility HOUSING newly requirements

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What other eligibility requirements apply to newly constructed housing?

1 Answer

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Eligible properties must: • Be located in New York State; • Have a sales price that does not exceed SONYMA’s Purchase Price Limits (click here to see Purchase Price Limits for your area); • Not be used for any business or commercial purpose; • Be a maximum of 5 acres (exceptions can be made on a case-by-case basis); • Have at least 500 square feet of living space; • Meet SONYMA’s project requirements, if a condominium or cooperative.