SONYMA "Low Interest Rates" Mortgage NY
I have been doing some research for financing options of a duplex on Long Island. NY has the SONYMA program: http://www.nyshcr.org/Topics/Home/Buyers/SONYMA/Lo...
Is anyone able to lend some insight on these products, such as; what are the terms of occupancy for the borrower?
The site only says that the borrower must "Occupy the SONYMA-financed home as their permanent residence." However, it does not provide any greater detail.