0
Do you qualify for first time home buyer if you bought from parents?
Wiki User
∙ 13y ago
No you cannot take the credit when you buy your home from a close relative. This includes your parents.
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
How would a person find out if they qualify for the First Time Home Buyer Tax Credit?
In a span of three years mainly, from 2008 to 2010, a person may qualify for the First Time Home Buyer Credit if they had bought primary residence from that year.
Does a land contract qualify a first time home buyer for the new tax credit?
Does a land contract qualify a first time home buyer for the new tax credit?
Does one have to be a first time home buyer to qualify for an FHA loan?
No, you do not have to be a first time homebuyer to qualify for an FHA loan; however, a first time home buyer is often better suited for a FHA loan as the government insures the loan which gives the buyer a lower interest rate and a lower down payment requirement. You can read more about FHA loans here: http://www.lendingtree.com/mortgage-loans/advice/mortgage-types/fha-loan-eligibility/ Yes, you must be a first time home buyer to qualify for an FHA loan. FHA loans are designed to help first time home buyers to afford their purchase.
Who bought Monet's first painting?
The buyer is unknown but they did buy it for 800 francs a lot for a new painter at that time.
Can you have already owned a house and still receive the first time home buyer credit?
No, since you are not a first time home buyer. I tried that when I got a divorce and because my husband and I had bought a home I didn't qualify. Not necessarily true. In New Jersey, if you haven't owned a house in the last 3 years, you are considered a first time home buyer and are eligible for the First Time Home Buyer Program funded by the New Jersey Housing and Mortgage Finance Agency (NJHMFA). This loan offers a below-market, fixed interest rate and can even help with down payments. I would check with a mortgage company in your state to see if there is a similar program available.
Can real estate salesperson pre qualify a buyer?
Within the first couple of conversations with a prospective buyer the agent should suggest that the buyer get pre approval, anybody that can fog a mirror can get pre qualified. Being pre approved carries a lot more weight when making any offers on a property.
How can one UK resident get a first time home buyer mortgage?
A UK resident can get a first time home buyer mortgage through a local financial institution such as "RBC Royal Bank" and "Halifax". Often they will also qualify for tax credits the next time they file income taxes.
If you are married can you apply for a first time home buyers loan if your spouse owns home?
Yes, if you are not on the current loan and will be the primary borrower on the new loan you may qualify as a first time home buyer.
How many apples did he start if he sell to his first buyer half of his apple plus an apple then he sold half of what was left plus an apple and he sold half of what had left plus an apple to 3rd buyer?
Lets go from reverse..the 3rd person bought half of the remaining apple and half an apple.. So possibly the number of apple he bought is one.the second person bought twice the third person so he bought two.Similarly the first person bought four apples.Therefore, there were totally four apple in the basket...
Which banks provide grants for first time buyers?
First-time home buyer grants come from Federal funds that are available to states and certain cities. The borrower has to qualify for a mortgage, and take special courses, to be eligible. The particular bank does not matter, except that it has to be a bank at which the buyer will qualify for a mortgage. grant to buy house in maricap;o az. what bank do l go to. for buying house need some understanding.
Can you qualify for the 8000 first time home buyer tax credit if buying a duplex as a principle residence?
I would love to know the answer to this question! I find conflicting data everywhere.
I am planning to sell a home and I am financing the purchase. The buyer seems to meet the requirement for a first time home buyer tax credit but I can't find out if owner financing will qualify. I would prefer to make the sale with a quit claim deed ?
As long as the deed will be in the buyer's name they will quailify for the credit. The credit is for anyone purchasing a home (for the first time. There isn't a financing requirement. So in theory if someone wanted to buy a home outright with all of their own funds, then they would still qualify for the credit. However, if the person is still unsure, they should check with their tax professional. In fact, I would put a stiuplation in the contract and/or mortgage that you are not guaranteeing that they will qualify for the first time home buyer tax credit. Because if for so reason they don't, you don't want them coming after you for the credit.
