First-Time Homebuyer

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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 ?
First time homebuyers often risk buying more home than they need; this is especially true when a lender is recommending use of an ARM loan product.
First Time Homebuyers Program (New Orleans): $50,000 provided by Hibernia National Bank, New Orleans, to 10 very low- and low-income first-time homebuyers for closing cost and down payment assistance.
We are pleased to offer affordability to first time homebuyers in such an exciting, growing city as Gainesville," said Sean Frith, Community Manager.
Since 1997, HomeStreet Bank has worked in close partnership with HomeSight to provide $14 million in mortgage financing to low- and moderate-income first time homebuyers.
NYSE:PMI) announced a partnership with Mission of Peace that will create homeownership opportunities for qualified and deserving first time homebuyers in Flint, Michigan.
He created the Manna Homebuyers Club, which has educated 2,000 first time homebuyers, and he is now reaching out to very low-income buyers through the Individual Development Account program, a matched downpayment savings program.
Boston Private has worked alongside Urban Edge extensively in an effort to stimulate job creation and neighborhood stabilization and promote homeownership for first time homebuyers.
The Nehemiah Corporation of California, a not-for-profit organization providing down payment assistance to first time homebuyers, today praised President Bush's proposed budgetary initiatives to promote home ownership among low to middle income Americans.
com has become one of the top sites on the Web for first time homebuyers and home related content and services.
NRPI is a Florida based corporation which buys residential properties in need of rehabilitation and resells to first time homebuyers in Florida and Louisiana.