A First Time Home Buyer is someone who's never owned a home or has not owned a home within the last 3 years.
If you are a 1st time home buyer, potentially certain programs will allow a minimum down payment of 3% .
Also, as a 1st time home buyer, you COULD potentially get qualified for a discounted Interest Rate and Mortgage Insurance Rate.
so if you have owned a home in the past but not the last 3 years, you may still be able to qualify as a first time home buyer again
Reach out to your Mortgage Loan Officer or Real Estate Professional if you have any questions.
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