Any New Yorkers familiar with SONYMA?
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)