Home Buying in Turlock>Question Details

Mary Ann, Home Buyer in Turlock, CA

If I haven't owned a home in 3 years, can I be approved as a first time home-buyer again? I live in CA...

Asked by Mary Ann, Turlock, CA Wed Jun 1, 2011

First-Time Homebuyer

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Answers

5
Mary Ann may be looking to be eligible for down payment assistance, etc.

Most loan programs define you as a first time homebuyer if you have not owned a home in the past 3 years. So the answer to your question of can you be approved as a first time homebuyer again, will depend on what you are applying for and how it defines a first time homebuyer.
1 vote Thank Flag Link Wed Jun 1, 2011
Typically if you haven't owned a house for 3 or more years you could be considered a first time buyer. However most programs don't really consider that as much as they consider your credit worthiness and employment.
0 votes Thank Flag Link Tue May 21, 2013
Approval for a loan depends on your credit and your FICA score plus even with an FHA loan, you will still need a downpayment.

David Cooper Las Vegas Buyer's Agent in Bank Owned REOs. 35 years experince. Freee List
email: davidcooper@lasvegaswinner.org or call +1-7024997037
0 votes Thank Flag Link Wed Jun 1, 2011
Mary Ann
Generally speaking yes.
But you could be asking for a reason I or others may not be aware of.

Harold Sharpe - Broker
So Cal Homes Realty
(951) 821-8211
harold@socalhomesrealestate.com
http://www.socalhomesrealestate.com
California Department of Real Estate Broker License # 01312992
0 votes Thank Flag Link Wed Jun 1, 2011
Shane's answer is absolutely correct.
0 votes Thank Flag Link Wed Jun 1, 2011
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