What Is A First Time Home Buyer

Dated: 03/05/2018

Views: 106

Last week I learned something NEW that I may be a misconception with many people.  I have always assumed (yes, I know that is my first mistake) that a FIRST TIME HOME BUYER was someone who has never owned their own home.  But I was educated by a lender and want to reach out to everyone I know currently RENTING to make sure they know buying could be an option for them even without a large sum for downpayment and perhaps even an exemption from the monthly PMI.  Check out the definition of what qualifies as a first time home buyer and see if you could in fact be qualified to buy and put your days of renting behind you!  


A. Is an individual who has not had an ownership interest in a principal Florida home during the last 3 years. This includes a spouse they are considered Florida first-time Florida homebuyers.

B. Single parents are first time homebuyers if they have only owned a Florida home with a former spouse while married or a single parent who has only owned with a former spouse while married is also considered a first time Florida homebuyer.

C. A first time Florida homebuyer is one who is one who has been a displaced homemaker and has only owned a Florida home with a former spouse.

D. A first time Florida homebuyer is an individual who has only owned a principal Florida home not permanently affixed to a permanent foundation in accordance with applicable regulations.

E. A Florida first time homebuyer is an individual who has NOT owned a Florida home that was in compliance with Florida State, local or model building codes and which cannot be brought into compliance for less than the cost of constructing a permanent Florida home.

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David and Leslie Miller

South Walton became my home over 12 years ago when David and I married and chose to settle and raise our children in Point Washington. His family has deep root in the community and I feel lucky to li....

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