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 ?
China will cut the minimum down payment for first-time home buyers in many cities, as part of efforts to boost the property market and slowing economy, according to a recent report by Shaighai Daily.
The number one problem for first-time home buyers, particularly millennials, is that they simply don't have the cash," Rebecca Reynolds Lytle, senior vice president and chief lending officer at San Francisco Federal Credit Union, said.
First-time home buyers have increased their budget to an average of $238,935--up from $193,197 in 2014--according to the BMO Harris 2015 First-Time Home Buyers Report recently released.
The network tallied 811 points among first-time home buyers, showing strength in all factors.
The recently approved federal stimulus package includes a lift for first-time home buyers, the IRS said Wednesday: Up to $8,000 in tax credit that doesn't have to be repaid.
THE number of first-time home buyers has sunk to its lowest point since 1980 as house hunters struggle to get on the property ladder.
In addition, first-time home buyers benefit from reduced rate first mortgage financing from the New Hampshire Housing Finance Authority and Citizens Bank.
New opportunities are emerging nationwide, thanks to a range of innovative mortgage programs to aid first-time home buyers who had been previously locked out of the housing market.
Places where first-time home buyers can find financial assistance
This handbook guides first-time home buyers through every step of the process, from finding a real estate professional through making an offer on a home, obtaining financing, and completing the closing.
State Housing Officials today announced that buyers of newly constructed homes and first-time home buyers in California can tap into a state tax credit program that will help them save up to $10,000, starting May 1, under a bill signed by Governor Schwarzenegger.