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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive ?
commented, "Purchasing a home has been considered a lengthy process, wherein a first time homebuyer was always apprehensive towards taking this step.
With over ninety-five thousand followers, the Colorado First Time Homebuyer Facebook page has been influential to the teams' success.
First time homebuyer market share was 33% in 2014; the July 2015 figure was the second lowest since the association's first survey in 1981.
Alpine Mortgage Planning is upping the ante by pledging to donate $100 for every mortgage for a first time homebuyer the company completes by the tax credit deadline.
Henry has been trained by the Washington State Housing Finance Commission to teach First Time Homebuyer education classes.
California-based CIT Bank, N.A., the banking subsidiary of CIT Group Inc., has announced it has awarded a new USD 400,000 grant to the Los Angeles Housing + Community Investment Department (HCIDLA) to help lower-income Angelinos who are first time homebuyers, the company said.
Many first time homebuyers cannot come up with the required 20 percent down.
Community Housing Innovations has reached an agreement with The Cheshire Group to assist first time homebuyers in the realization of home ownership.
At the double: Would-be first time homebuyers who make at least one pounds 100 payment per month by standing order to their special Yorkshire Building Society account collect double rate monthly interest of 4.5pc gross - plus pounds 100 cashback on completion of their loan.
YNYS Mn AM Ieuan Wyn Jones (pictured) has called for more money to be made available for first time homebuyers on the island.