First-Time Homebuyer

(redirected from First Time Home Buyer)
Also found in: Acronyms.

First-Time Homebuyer

A person or couple who buys a primary residence for the first time. Buying a home usually requires a large down payment; for this reason, first-time home buyers are permitted to make a withdrawal from an IRA without penalty provided it is used to help purchase the home. Additionally, first-time home buyers are eligible for a substantial tax credit.
References in periodicals archive ?
Buy a New Home in Maryland finds that one of the biggest challenges for first time home buyers is coming up with the required down payment on FHA and Conventional Loans.
Gerald explains why owning a home is better than renting, what exact steps you need to take to purchase your first home, why it is important to use a Realtor, how to qualify, apply, and get pre-approved for the program, which first time home buyer loan programs are best for you, what closing costs are associated with a mortgage loan, how to fix your credit and improve your credit scores, and what you need to know about foreclosures and short sales.
With Kim's help, the First Time Home Buyers program helped Harriet to get a mortgage for a 2 bedroom condo in Schaumburg.
Real estate outlook: First time home buyers outlook for 2013
Obtaining a mortgage can be a very confusing and expensive process, particularly for the First Time Home Buyer," said Jon Mulkin, executive vice president and director of consumer asset products.
BBVA Compass' First Time Home Buyer Mortgage is available throughout BBVA Compass' seven state footprint, which includes Texas, Alabama, California, Arizona, Florida, Colorado and New Mexico.
Driesler said the Realtors are targeting the extenders for passive loss and a credit for first time home buyers.
The first time home buyers ended up buying one of the inventory homes that was already completed in the neighborhood.
Kelly Byrnes of Platinum Funding Solutions and her team of trusted advisors are striving to close a total of 125 first time home buyers, at $8000 per closing, putting $1,000,000 back into our local economy
In addition to the availability of a grant, eligible first time home buyers will also receive special discounted rates on fixed or variable rate mortgage products in conjunction with the program.
To be eligible for one of the homes offered in the First Time Home Buyers Program, a purchaser must qualify as a first time home buyer or not have owned a home during the past three years.
From the first time home buyer to the affluent mega-jumbo borrower, Leader Mortgage can provide the loan at a very competitive rate with fast, hassle-free closings.