Definition of first-time buyer in the Definitions.net dictionary. Meaning of first-time buyer. What does first-time buyer mean? Information and translations of first-time buyer in the most comprehensive dictionary definitions resource on the web.
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You don’t have to be buying for the first time to qualify as a first-time homebuyer. First-time homebuyer is defined a few ways, which means even if you have owned a house before, you may still qualify for the list of first-time benefits you’ve seen advertised (or, if you’re thinking, wait, what first-time benefits !?, keep reading or reach out to a loan officer and they’ll be happy to fill you in).
For mortgage programs, the definition of a first-time home buyer is usually altered to mean someone who hasn’t owned a home in the past three years. Special first-time buyer mortgage programs offer preferred terms to such buyers.
The FHA first-time homebuyer loan program makes life a lot easier if you’re just starting out in the homebuying process. The federal government and most states offer insured home loans tailored to first-time homebuyers. These loans offer attractive benefits that can make the home-buying experience less costly and less restrictive.
First-Time Home Buyer’s Glossary. By Realtor.com Team. and there are also down payment assistance programs for first-time buyers.. That could mean the seller is still open to accepting an.
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One would think the term “First Time Home Buyer” (FTHB) can be simply defined.. The FTHB definition differs according to the program, CCRA HBP or. or any other party and do not constitute financial, legal or other advice.
A first-time buyer (FTB) is a term used in the British and Irish property markets, and in other countries, for a potential house buyer who has not previously owned a property.. A first-time buyer is usually desirable to a seller as they do not have to sell a property, and as such will not involve a housing chain.
The dictionary definition of a first-time buyer is ‘a person buying a house or flat who has not previously owned a home and therefore has no property to sell’. In other words anyone getting a mortgage who isn’t a homemover, homeowner, buy-to-let investor or simply remortgaging is classed as a first-time buyer.