🏠 Am I a First-Time Homebuyer? (You Might Be Surprised!)

When people hear “first-time homebuyer,” they often think it’s only for people who have never owned a home. But here’s the surprise—you might qualify as a first-time homebuyer even if you’ve owned in the past!

🔄 The 3-Year Rule

According to most loan programs (including FHA, conventional, and some down payment assistance programs), you’re considered a first-time homebuyer if you haven’t owned a primary residence in the past three years.

So, if you:

• Sold a home 4+ years ago

• Went through a divorce and your ex kept the house

• Owned a home but only as a co-borrower, or inherited one but never lived there

You might still qualify as a first-time buyer now.

🎯 Why It Matters

Being considered a first-time buyer can open the door to:

• Lower minimum down payments

• Down payment assistance programs

• Special grant or bond programs

• More flexible underwriting guidelines

✅ Quick Checklist

You might be a first-time buyer if:

• You’ve only owned a home as an investment (not your primary residence)

• You haven’t been on a mortgage in the last 3 years

• You’re buying with someone else who is a first-time buyer

💬 Final Thoughts

“First-time buyer” doesn’t always mean first-ever. And with the right loan program, it could mean lower upfront costs and more flexible options—even if you’ve owned before.

If you're unsure where you stand, or what you might qualify for, reach out. I’ll walk you through it and help you take advantage of everything available to you!