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Old 11-20-2007, 06:21 AM
 
20 posts, read 63,195 times
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We sold our condo almost 3 years ago and have been renting.
When we go to buy again in a year, cane we get a first-time buyer rate?
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Old 11-20-2007, 07:02 AM
 
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I don't believe that you can.....since you are not a "first time buyer"...right???
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Old 11-20-2007, 07:38 AM
 
Location: NC
119 posts, read 490,099 times
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I think you qualify. I'm pretty sure it's a "very first home" or a "have not owned a home in somewhere between 2 and 5 years" for first time homeowner qualifications.
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Old 11-20-2007, 10:29 AM
 
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Yes

Most of the bond programs for 1st time buyers require that you have not owned a home in the last 3 years.

So, once you hit 3 years of renting or not owning you are now a "1st time homebuyer" again as far as qualifying for the programs goes.
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Old 11-20-2007, 10:45 AM
 
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Quote:
Originally Posted by TimtheGuy View Post
Yes

Most of the bond programs for 1st time buyers require that you have not owned a home in the last 3 years.

So, once you hit 3 years of renting or not owning you are now a "1st time homebuyer" again as far as qualifying for the programs goes.
Good to know.....so if we have been homeowners for 20+ years, we sell and we rent for three years we can qualify as "First Time Buyers" if we want to buy again??
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Old 11-20-2007, 10:51 AM
 
4,543 posts, read 11,549,619 times
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Quote:
Originally Posted by martinez4 View Post
Good to know.....so if we have been homeowners for 20+ years, we sell and we rent for three years we can qualify as "First Time Buyers" if we want to buy again??
Correct! .
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Old 11-20-2007, 10:59 AM
 
781 posts, read 3,487,016 times
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Quote:
Originally Posted by TimtheGuy View Post
Correct! .

Seems odd but I won't complain about it......good for us
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