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 ?
This means first-time home buyers can take their time in choosing which one would serve their best interests.
Global Banking News-November 24, 2016--Irish central bank eases deposit rules for first-time home buyers
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.
BANKING AND CREDIT NEWS-July 20, 2015-TD Bank survey finds first-time home buyers ready to buy
M2 EQUITYBITES-July 20, 2015-TD Bank survey finds first-time home buyers ready to buy
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.
In a statement the bank said that it would re-launch 90 per cent mortgages in order to attract first-time home buyers.
The WHBAA extends the availability of the first-time home buyer credit through June 30, 2010, for first-time home buyers who enter into a written binding contract for the purchase of their personal residence before May 1, 2010.
The idea then would be to draw first-time home buyers to those neighborhoods and help them find city, state and federal grants, and incentives to buy, Lively said.
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.