A Buyer can have owed a home within the last 3 years & STILL QUALIFY for the "First Time Home Owners" tax credit.
They can even own a home right now & STILL QUALIFY for the credit!
How? The small prints states that as long as you have not owned a Primary Residence, you will qualify for the "First Time Home Owners" $8,000 tax credit.
I hope that helps,
Roswell Moore, CMPS
Certified Mortgage Planner
You have 2 separate things here!
1st time Home buyers tax credit. If neither you nor your husband has owned a home within the past 3 years, then you are a 1st time Home Buyer if your income is under $150,000.
The only way to know if you would qualify for a loan would be to sit down with a mortgage broker or your bank. I would STRONGLY recommend that you deal with a LOCAL person. Find someone that you can sit down face-to-face. You will need to have someone that you can depend on to be there & make things happen as they should.
Drop me a note at firstname.lastname@example.org or call me at 440-487-2193 and I would be most happy to offer you some names of qualified, honest lenders.
Keller Williams Realty Greater Cleveland
Chances for a loan are good.....I would still check with a finance manager, and not an online one. I of course encourage you to yours ours. Call 440-971-5600...ask for Doug...and refer to Bob Kienast when asking for info.
Feel free to contact me personally for more info at 440-971-5616