Friday, February 26, 2010

My husband add my name to his house few year ago, if I buy house now,Am I still qualify for first time buyer?

No, both husband and wife can not have owned a home in the last 3 years.My husband add my name to his house few year ago, if I buy house now,Am I still qualify for first time buyer?
I'm assuming you're no longer married or you're separated. Your haven't purchased or you've rented or lived elsewhere for the past 3 years. If you answered yes to not purchased or yes to renting in the past 3 years, you are considered a first time home buyer, by both FHA and Conventional (Fannie %26amp; Freddie) guidelines should approve. So you would possibly also qualify for the $7500 tax credit ( about to be increased to $8500) for first time home buyers.My husband add my name to his house few year ago, if I buy house now,Am I still qualify for first time buyer?
I believe that would depend on whether your name was simply added to the existing documents or if it was added at a time when the loan may have been refinanced and your finacial information.. your income and credit history etc.. were used in the determination of the loan.. I'm actually curious myself if this is the determining factor... Any brokers out there???
no you are not a first time. Did you file joint tax returns? in most cases you guys took the mortgage interest deduction. So where do you think they get the information ---your tax returns duhhhhhhhhhhh
Nope.

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