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Homes and Community Renewal

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:

If this tool is not working, you may have to adjust your browser settings:

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.