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 ?
Statistics from the National Association of Realtors find that 87% of first-time home buyers believe they need a 10% minimum down payment.
The average age of FIRST-TIME HOME BUYERS is 38 - 11 years older than those who now own homes were aged when they bought.
The proposed Budget 2019 measure will help families take their first steps toward home ownership through a new First-Time Home Buyer Incentive that would reduce the mortgage payments required for first-time home buyers looking to own a home.
He urged the Securities Commission especially to be watchful of such crowdfunding platform managers who may be tempted to build up their portfolios too quickly by lending to first-time home buyers with compromised financial credibility as they may not be able to repay their loans later.
According to DIB, its biggest home finance clients are first-time home buyers, buyers of family homes and investors looking to purchase an income-generating asset.
THE number of first-time home buyers has hit the highest level since 2007, despite deposits doubling.
The typical down payment for 60 percent of first-time home buyers is 6 percent or less, according to NAR's latest data.
This means first-time home buyers can take their time in choosing which one would serve their best interests.
More than a quarter of first-time home buyers taking out a mortgage in 2016 agreed a term of 30 to 35 years, the Halifax has revealed.
Global Banking News-November 24, 2016--Irish central bank eases deposit rules for first-time home buyers
CHICAGO, ILLINOIS: First-time home buyers are setting aside an average budget of $246,378 - up from $193,197 in 2014 - according to the BMO Harris 2016 Home Buying Survey released today.
Realtors' apex body CREDAI Getamber Anand said the tax incentive will encourage first-time home buyers and increase the demand significantly.