What Are the Benefits of Being a First Time Home Buyer?
An individual who has not owned a principal residence for three years. A spouse is also considered a first-time homebuyer if he or she meets the above criteria. If you’ve owned a home but your spouse has not, then you can purchase a place together as first-time homebuyers.
What kind of financing is available for first time home buyers?
Our Advantage refinance product offers financing to first-time homebuyers and current homeowners. Income must be at or below the income limits. See Purchase Price & Income Limits Our HFA Preferred home purchase or refinance product offer financing to first-time homebuyers and current homeowners. Income must be at or below the income limits.
What to look for in a first time home buyer?
If the home meets your needs in terms of the big things that are difficult to change, such as location and size, don’t let physical imperfections turn you away. First-time homebuyers should look for a house they can add value to, as this ensures a bump in equity to help them up the property ladder.
