Asked in MortgagesHome Equity and Refinancing
Can you have already owned a house and still receive the first time home buyer credit?
September 18, 2012 7:35PM
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 the First Time Home Buyer Program funded by the New Jersey Housing and Mortgage Finance Agency (NJHMFA). This loan offers a below-market, fixed interest rate and can even help with down payments.
I would check with a mortgage company in your state to see if there is a similar program available.