The Truth About First Time Homebuyers

Many people don’t realize that the term “first time homebuyer” is not necessarily a literal one. If you are interested in taking part in a state or local program for a first-time homebuyer, you should research the true definition according to the individual program.


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Many people don’t realize that the term “first time homebuyer” is not necessarily a literal one.  If you are interested in taking part in a state or local program for a first-time homebuyer, you should research the true definition according to the individual program.  Some programs define a first-time home buyer as someone who has never owned a home in that specific area or who hasn’t owned a home in that area within the past three years.  Most of the time this means if you owned a home more than three years ago in the same area or even if you currently own a home outside the area covered by the program you can still be considered a first time home buyer.  There can be many other obstacles to qualifying for first-time home buyer assistance, but understanding that you could possibly qualify is the first step.

Thinking of buying or selling a home in Sussex County?  Give us a call at Cooper Realty Associates and put us to work for you – 302-629-6693.

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