What's a First-Time Buyer?

Expert, localized Los Angeles answers provided by Heather Roy

What's a First-Time Buyer?
	Is there such a thing as becoming a First Time buyer after owning Realestate in the past? Would someone qualify after a certain amount of time has passed? and If your name is listed on a deed but not on a mortgage does that count as owning Realestate?

	If your name is on a current deed, you presently own real estate and probably wouldn't count as a first-time buyer. Mortgage liability wouldn't have anything to do with it. Different first-time-buyer programs have their own requirements, and with some, you might qualify if you hadn't owned a house in a certain number of years--sort of like regaining your virginity.
	Edith Originally published on April 10, 2008

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