A: The specific concept of exactly what constitutes an initial-time homebuyer – and you may whether or not you’d disqualify yourself out of dropping within it – is based largely towards the particular earliest-go out buyer system or masters whereby would certainly be trying to see.
Instance, the fresh (now-expired) federal homebuyer tax borrowing program defined earliest-timers just like the people that had not had a property throughout the three-years preceding their acquisition of the house in which it was in fact choosing the credit.
Although not, of numerous city and you can state basic-big date buyer apps define a first timekeeper once the someone who has maybe not had property for the reason that condition to the 3 years before the being qualified get. Read More