Steven Dupre, Home Buyer in New York

I am interested in buying an investment property in my hometown of New Orleans. Would I still be elegible for 1st time buyer incentives?

Asked by Steven Dupre, New York Wed Mar 27, 2013

Help the community by answering this question:


If you have 6 months and alot of time you might get a dollar...maybe.

Focus on the biggest incentive of all...the current interest rates.

One needs to consider:
1) Will this be your primary residence?
2) Are you buying a single family home or a multifamily?
3) How much money are you putting down?
4) How much do you plan on borrowing?

Saying "investment property" suggests it is not your primary residence...this translates to paying 20 - 30% down on any investment property not owner occupied.

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0 votes Thank Flag Link Wed Apr 3, 2013
Do you plan on living in one of the units?
Are you trying to get 1st time home buyer grants?
Web Reference:
0 votes Thank Flag Link Fri Mar 29, 2013
Hi Steven,

Tony's response is accurate. You will need to owner/occupy a property, with that being said, rates are at an all time low. Investment rates are approximately 4%.
Kim Kerner
Keller Williams Realty New Orleans
0 votes Thank Flag Link Wed Mar 27, 2013
Hi Steven
You'd have to read the fine print on any 1st time homebuyer incentives in a county or city, but almost all of these grants/incentives only apply towards owner-occupied homes.
Best of luck!
0 votes Thank Flag Link Wed Mar 27, 2013
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