FHA is not just for First Time Home buyers.
Also, the purchase of land would not disqualify you as a First Time Home Buyer anyway.... As a 'Home' has to be a suitable place to live.

FHA is not only for first time homebuyers. We do FHA loans for people who have owned several homes. A first time homebuyer is someone who has not owned a home in the past three years. Land is not a home and has nothing to do with first time homebuyers status.

Sally W. Hamby
Pine State Mortgage
Atlanta, GA

E & E Meyer,

I think you have mistakenly mashed two questions together... don't fret, there are so many terms out there these days it is hard to keep it all straight.

1) FHA Financing doesn't just apply to first-time home buyers. It is financing available to anyone that meets the FHA guidelines and if provided by the Federal Government. It has a low down payment (3.5%) which makes it very attractive right now.

2) $8,000 First Time Home Buyer Credit - If you have never owned a home or have not owned a home as your principal residence in the last 3 years you are available for this credit. I do not think the fact that you purchased land comes into play, but to be positive you can get more details at http://www.federalhousingtaxcredit.com to further explanation.

Good luck and best wishes!