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Purchasing a Home in a Target Area

Federal law permits SONYMA to provide special incentives1 for applicants purchasing homes in Federally designated Target Areas. These incentives are:

  • You do not have to be a first-time homebuyer2;

  • You can make more income and purchase more home since the Household Income and home Purchase Price Limits are higher (click here to see Household Income and Purchase Price Limits for your area); and

  • You can purchase a two family home that is a newly constructed or is an existing home that is less than 5 years old.

How to find out if a property is located in a Target Area:

  1. First, you must obtain the 2000 census tract and the block group for the property from the U.S. Census Bureau website. Follow the below instructions to find this information for a specific property.

    Link to the US Census Bureau website by clicking here. In the top left, expand the "Topics" bar.

  2. B. Click on the "Year" button and then click on "2000."

    C. Go back to "Main" menu.

    D. On the right hand column, locate "Address Search" (find census tract by entering a street address

    E. Enter street address, city, state, and zip (if available) and click "Go"

    F. The census tract and block group are circled in the example below.

  3. To see if the census tract and block group for a specific property is in a Target Area, click here for the SONYMA list of Target Areas by county and census tract. If a census tract is listed, but no block groups are listed under the block group column, then all block groups in that tract are targeted. If a county is not listed at all, that means it does not contain any Target Areas.

You can also call the SONYMA Information Center at 800-382-HOME (4663) with the exact street address, city or town and zip code.

To learn more about SONYMA's Programs, click here.

1 These incentives do not apply to the Achieving the Dream Mortgage Program.

2 If you are not a first-time homebuyer, you must sell your existing home and will not be eligible if you currently own and you intend to retain ownership of a vacation or investment home.

Last updated: 12/17/2013


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