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.
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References in periodicals archive ?
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.
This year, we have witnessed an increasing number of units sold with more than 80% of the buyers being millennials or first time homebuyers. We will continue to build and maintain this trust that our customers have on us, while delivering happiness to them."
First time homebuyers are probably renting, he said, "so you have helped one side of the economy at the expense of another side of the economy.
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.
The Bank's "Daisy" program is a second trust deed loan that helps first time homebuyers in financing the required 3% down payment necessary to qualify for a "Grow" loan.
Mars, PA, May 03, 2016 --(PR.com)-- Mars National Bank is again promoting the Federal Home Loan Bank Pittsburgh's (FHLBank) program for first time homebuyers called "First Front Door." The program supports first time homebuyers through down payment and closing cost assistance.
Global Banking News-January 28, 2015--Irish central bank eases rules for first time homebuyers