Can you have owned a home and be a first time buyer?

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In New Jersey, if you haven't owned a house in the last 3 years, you are considered a first time home buyer and are eligible for the First Time Home Buyer Program funded by the New Jersey Housing and Mortgage Finance Agency (NJHMFA) which offers a below-market, fixed interest rate and can help with your down payment.
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Can you purchase a home as a first time home buyer if you just filed for bankruptcy?

Answer . That is completely relative to the facts surrounding the bankruptcy. In a Chapter 7, the money you might use as a downpayment might belong to the bankruptcy estate until the case has been discharged. If you are in a Chapter 13, you will need permission from the trustee to incur the debt. (MORE)

How should you buy a home if you are a first-time home buyer?

First and foremost educate yourself. Use your state's local housingauthority for free seminars in the steps of a home purchase andlearning about financing is key. You need to have a good sense ofyour income and the amount of money you can afford for the costs ofownership: mortgage, insurance, taxes (MORE)

Can a first-time home buyer have a co-signer?

Answer . \nYes, and no they do not need be on the title. But remember if you borrow money from the the cosigner make sure to get clear gift allotment numbers and make sure to find out asap if the bank needs the money to be aged or not.. Answer . \nyes!

Where is the best place to get a first time buyers home loan?

There are definitely a lot of programs available for those interested in receiving a home loan, especially for a first time home buyer. The best advice I can give is to find a mortgage company that you can trust and has an established reputation. I would suggest a mortgage company that is part of th (MORE)

Who can be considered as a first time home buyer?

It i more likely that a first time home buyer is someone that has never bought a home before, either that means that you have never picked out the home or you have and someone else has paid for it. Either way that person would be a first time home buyer. Depending on what state you live in there a (MORE)

What is a first time home buyer tax credit?

Tax Credit to Aid First-Time Homebuyers . If you were a first-time home buyer in 2008, you should know about and begin to plan for a new tax credit that was recently put into place.. Some details of the credit include:. The tax credit is applicable to taxpayers who purchased homes after April 8 (MORE)

What should your credit score be for a first time home buyer?

"Should" is subjective. It depends on the type of loan you are attempting to get. FHA loans accept lower credit scores than traditional lenders. Traditional lenders have rate discounts at the higher levels, the best loans being found with scores over 800. Each lender is different. Some price everyon (MORE)

Can you have already owned a house and still receive the first time home buyer credit?

No, since you are not a first time home buyer. I tried that when I got a divorce and because my husband and I had bought a home I didn't qualify. . Not necessarily true. In New Jersey, if you haven't owned a house in the last 3 years, you are considered a first time home buyer and are eligible for (MORE)

How does the first time home buyers credit work?

The first time buyer credit for 2009 expires November 30, 2009. If you are involved in a Real Estate Transaction, you must close by that date in order to be eligible for the credit. A first time buyer is a buyer who has not purchased Real Estate in the last 3 years. If that is you, you are not au (MORE)

What is the tax credit for a first time home buyer for 2010?

The tax credit for 2009 ends November 30, 2009 - your transaction must close by that date in order to qualify for the credit. Currently, there is no official continuance of the credit. There are rumors that it will be continued into 2010, but no confirmation from the government yet. For more Real (MORE)

When will i get my first time home buyers credit?

This will tell you what type of credit you're eligible for: http://thedailey.files.wordpress.com/2009/11/2009-homebuyer-tax-credit-changes.pdf and this will tell you how to file for the credit http://thedailey.wordpress.com/2009/10/20/filing-amended-tax-return-for-first-time-homebuyer-credit/.

Who do you call to get the status of your refund for first time buyers home?

Here's the link to the IRS website for details but I've also cut and pasted the info here for your use and review. Thank you:) http://www.irs.gov/newsroom/article/0,,id=204671,00.html New Legislation New legislation, the Worker, Homeownership and Business Assistance Act of 2009, which was signed (MORE)

Do you still get the first time home buyers credit if you buy a home in a different state?

Here's the link to the IRS website for details but I've also cut and pasted the info here for your use and review. Thank you:) http://www.irs.gov/newsroom/article/0,,id=204671,00.html New Legislation New legislation, the Worker, Homeownership and Business Assistance Act of 2009, which was signed (MORE)

When does the first time home buyers tax credit end?

You must have bought --- or entered into a binding contract to buy --- a principal residence on or before April 30, 2010 . . If you entered into a binding contract by April 30, 2010, you must close (go to settlement) on the home on or before Sept. 30, 2010 . Go to the IRS gov website and use th (MORE)

Do I qualify for the first time home buyer tax credit?

Sorry for the one-liner question, did not know how to add all the details in the question itself. Here they are: We purchased out first home on October 15th; we file under married filing jointly status, and our combined income is above the 150,000$ limit (that was in effect before Nov 6 2009) but be (MORE)

Do i still qualify for first time home buyers taxes?

You are the only one that has all of the information that would be needed for you to determine if you meet the FTHBC rules. Go to the IRS gov web site and use the search box for First-Time Homebuyer Credit Taxpayers who have a binding contract to purchase a home before May 1, 2010, are eligible for (MORE)

When did the first time home buyer credit expire?

You must have bought - or entered into a binding contract to buy - a principal residence on or before April 30, 2010 . If you entered into a binding contract by April 30, 2010, you must close (go to settlement) on the home on or before June 30, 2010 .

Can a mobile home be a first time buyers home?

It makes an excellent first home, - but if you are asking about taxation or benefits as a 'first home' you'd have to ask your provincial or state department that deals with that. - - You don't say where you are - it's always helpful to do so.

Where should a first time home buyer go for advice?

Talk to friends and co-workers about realtors in your area and then talk to a few. Check your local library for books and articles on finding a Realtor. After your initial research, you should find a mortgage company that has a solid reputation in your area. Try to find a company that is part of t (MORE)

What are some recommended tips on being a first time home buyer?

What seems to help most people on there decision on buying a home is getting the home checked example: getting the pipes checked look for leaks, holes, damages, also look at the history of the home the condition look for a home that is up to date on appliances example: a Stove, refrigerator, etc.

What are some advantages of loans to first time home buyers?

1. The loan priving company does a valuation of the property before providing the loan. This helps the buyer know whether he is paying the fair price of the property. 2. The buyer doesn't have to pay rent for accomodation, so a portion of the mortgage payments help save rental costs. 3. Some c (MORE)

What happens with first time home buyers?

The question is pretty vague, but I will try to provide you adetailed answer. The most important thing about buying a home for the first time ischoosing the right mortgage program. Most of the times when a home buyer starts his house hunt, he goeslike "well, I have saved money for years and i can (MORE)

What are some tips for first time home buyers?

There are a number of tips for first-time home buyers. This includes talking to people who have purchased homes and learning about the process, making a large down-payment, and looking at the budget and what is affordable.

How do the first time home buyer plan work?

The Home Buyers' Plan (HBP) is a program thatallows you to withdraw up to $25,000 in a calendar year from yourregistered retirement savings plans (RRSPs) to buy or build aqualifying home for yourself or for a related person with adisability.

What are some of the factors to consider when negotiating a first time buyer home loan?

One key factor to consider when negotiating a first time buyer home load is affordability. Clearly, one has to be able to meet the current monthly repayments. However, it is quite possible that interest rates may rise in the not too distant future and one needs to understand the impact any rise in r (MORE)

What are some tips for securing a first time home buyer loan from a bank?

Several aspects are important when securing a loan. One has to look at how much one can afford when paying for a deposit and fees. Also it is advisable to put money aside for costs which occur after the house is purchased such as repairs. Before securing a loan, the best thing is to look at the many (MORE)

What are some tips for a first time home buyer?

There are many tips for first time home buyers. First, make sure you have a down payment and are approved for a mortgage. Then find a real estate agent to help you locate your dream house. Remember, do not look at cosmetic things, walls can be painted, rugs can be removed, it is more important to (MORE)

What is first time new buyer home loan?

A first time new home buyer loan is a loan that is specifically targeted to first time home buyers. Some advantages of a first time home buyer loan include lower down payments, lower interest and lower fees, depending on the company offering the product.