Who Qualifies For First-Time Home Buyer Products?

Who Qualifies For First-Time Home Buyer Products?

Many federal government and nonprofit programs have strict concept of a buyer that is first-time. If you haven’t had any form of ownership in almost any house within the last few 36 months, you’re considered a first-time customer. You can’t get first-time home owner advantages in the event that you don’t live in it if you own a rental or investment property, even. Before you qualify if you opt for a government-backed loan like a USDA loan or an FHA loan, note that your home also has to meet certain standards. Regional and state government programs additionally generally have earnings limitations. [Read more…]