Are you sure you’re NOT a FIRST TIME HOME BUYER?

Most people when they hear first time home buyer, automatically think of that very first home they ever bought and became responsible for a monthly mortgage for the first time in their lives. However, just like many other things that we all know and love; there have been changes to what FIRST TIME HOME BUYER actually means. Since many have lost their homes due to foreclosure, loss of job or many other financial & economical situations, let’s take a closer look into what a actually will qualify you for a FIRST TIME HOME BUYER benefit. I preface this blog with BE SURE TO CHECK WITH YOUR MORTGAGE CONTACT to make sure that this blog relates to you. With that said; yes, most traditional first time home buyers are those that have never owned a home. However, if you have not had a title in your name for 3 years or more, you MAY qualify once again for those awesome benefits that first time home buyers receive. If you are an investor however, you will not qualify for these benefits and you may also have to pay a higher down payment and interest rate.   So be sure if you are looking into buying a home again and you have not held a mortgage/title in your name in the last 3+ years that you talk with your mortgage lender to see if you qualify for additional help to make the dream of owning a home again your reality.


Posted by Krista Christ on 08/15/2012
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