Who can be considered as a first time home buyer?

already exists.

Would you like to merge this question into it?

already exists as an alternate of this question.

Would you like to make it the primary and merge this question into it?

exists and is an alternate of .

It i more likely that a first time home buyer is someone that has never bought a home before, either that means that you have never picked out the home or you have and someone else has paid for it. Either way that person would be a first time home buyer.

Depending on what state you live in there are factors that could place you in the category of first time home buyer even if you have previously owned a home. 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 payment. I would check with a mortgage company in your state to see if there are similar programs available.
4 people found this useful

How should you buy a home if you are a first-time home buyer?

First and foremost educate yourself. Use your state's local housingauthority for free seminars in the steps of a home purchase andlearning about financing is key. You need to

Where is the best place to get a first time buyers home loan?

There are definitely a lot of programs available for those interested in receiving a home loan, especially for a first time home buyer. The best advice I can give is to find a

Can you have owned a home and be a first time buyer?

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 th

When will i get my first time home buyers credit?

This will tell you what type of credit you're eligible for: http://thedailey.files.wordpress.com/2009/11/2009-homebuyer-tax-credit-changes.pdf and this will tell you how to f

Do I qualify for the first time home buyer tax credit?

Sorry for the one-liner question, did not know how to add all the details in the question itself. Here they are: We purchased out first home on October 15th; we file under mar

When did the first time home buyer credit expire?

You must have bought - or entered into a binding contract to buy - a principal residence on or before April 30, 2010 . If you entered into a binding contract by April 30, 201

What happens with first time home buyers?

The question is pretty vague, but I will try to provide you adetailed answer. The most important thing about buying a home for the first time ischoosing the right mortgage pr

What are some of the factors to consider when negotiating a first time buyer home loan?

One key factor to consider when negotiating a first time buyer home load is affordability. Clearly, one has to be able to meet the current monthly repayments. However, it is q