Browse:  #  A  B  C  D  E  F  G  H  I  J  K  L  M  N  O  P  Q  R  S  T  U  V  W  X  Y  Z 

First-Time Home Buyer

First-Time Home Buyer Definition

First-Time Home Buyer refers to an individual who had no ownership in a principal residence during the 3-year period before the date of purchase of a property. This includes a spouse, if either meets the above test, and also a single parent who only owned a property with a former spouse while married. An individual who only owned a property that was not in compliance with building codes and which cannot be brought into compliance for less than the cost of constructing a permanent structure is also considered a first-time homebuyer.




Submit a Definition



Ask a Question

Learn the famous formula for money-making, based upon the THIRTEEN PROVEN STEPS TO RICHES! Get your FREE Copy & Instant Access to Think and Grow Rich by Napoleon Hill just by signing up.
 
   
Newsletter cover
Browse:  #  A  B  C  D  E  F  G  H  I  J  K  L  M  N  O  P  Q  R  S  T  U  V  W  X  Y  Z