Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 4 years ago on .

User Stats

30
Posts
12
Votes
Thomasina Pearce
  • New to Real Estate
  • New York / Cleveland
12
Votes |
30
Posts

Any New Yorkers familiar with SONYMA?

Thomasina Pearce
  • New to Real Estate
  • New York / Cleveland
Posted

Hi BP Family! I'm familiarizing myself with SONYMA (state of NY mortgage agency) programs and I know they require that no other properties be owned simultaneously if you plan to utilize a SONYMA loan. My questions are: 1. Could I purchase a second home (cash or conventional loan), if I still have the 1st home I purchased through SONYMA program? 2. Could I refi the SONYMA property and then go on to buy a 2nd property? I hope that makes sense, may not have formulated the questions in the most clear way. Thanks in advance! (FYI: These are ideally multifamily properties which I would be able to house hack and use as investment properties)