Home Buying in Anthem>Question Details

Nancy KEITH…, Real Estate Pro in 40205

The second time home buyer still plagues me. Why does it say last 5 years out of 8 years. Does it mean any consistent 5 years out of the last 8 in?

Asked by Nancy KEITH Cooper, 40205 Thu Feb 25, 2010

one home. What if a person lived in their home in 2002 till 2007 then bought a home in 2007-2010 does this person qualify?

Help the community by answering this question:

Answers

3
The wording just seemed so strange to me. Here is another example. A person lived in their home from 2002 till 2006. Sold their home and moved to an apartment till 2010. So that person would qualify for either a 1st time home buyer or a move up buyer.
0 votes Thank Flag Link Thu Feb 25, 2010
Nancy - It's not actually a "second time home buyer" so much as it is a "repeat buyer." In your example the answer is no, that buyer would not qualify. It must be five out of the last eight years. In the same home. In your example the most recent home was only lived in for three years.

Hope this clears things up.
Web Reference: http://www.dreamtown.com
0 votes Thank Flag Link Thu Feb 25, 2010
Is the 2nd home the one they want the credit for, or are they moving from it to another for the credit? The 2nd home would have to have been purchased after Nov 6 2009.
0 votes Thank Flag Link Thu Feb 25, 2010
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer