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How does the law define “first-time homebuyer”?

April 26, 2017define Law

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How does the law define “first-time homebuyer”?

1 Answer

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10 Posted

The law defines “first-time homebuyer” as a buyer who has not owned a principal residence during the three-year period prior to the purchase. This does not necessarily mean they have NEVER owned a home, just not in the 3 year period prior to this purchase.