Becky,

Thank you for taking the time to post your question. Loveland, Colorado is a great community to call home. Do you currently live in Loveland? Let me know if you don't and I can send you a relocation package.

To answer your questions if you are the only one on the deed on the home in the other state then you should have no problem getting the first time home buyer credit if your husband is the only one on the deed for the next home. I would consult your tax adviser to make sure. Here is where I send my clients if they have questions about the Tax Credit http://www.federalhousingtaxcredit.com/2009/index.html

When talking about VA loans I have the names of a few local lenders here in Northern Colorado that would love to assist you in the process. Please contact us for the names and numbers to get the ball rolling for you.

Do you have a time line in when you want to purchase this home (make sure you do it prior to Dec 1, 2009)? I would be more than willing to discuss with you the Loveland Real Estate market at you convenience.

Have a great day and we look forward to seeing you in Loveland, Colorado

HomeGuideColorado Client Care - Brad Rowe
Office@HomeGuideColorado.com
Toll Free: 888.841.5165

Hi Becky,

You're question really has two parts: Do you or can you qualify as a first time homebuyer? And can you use a 203k loan with your VA loan.

Based on the fact that you are married and therefore likely to purchase your new house jointly, you will not be eligible to use the first time homebuyers tax credit. I've attached a link below that explains the credit eligibility in greater detail.

As to your loan question, you will need a qualified mortgage broker to answer the question. I have a great reference for a mortgage broker who is very well versed in VA loans if you want to contact me for his info.

thank you,
Stuart