would I now qualify as a "first time home buyer" if the only other mortgage I've had was issued to my (now ex) husband & I and?

Asked by beth.leahy, York, ME Sat Feb 4, 2012

during which most of that time I had no income (stay-at-home-mom) to contribute?

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Dale Doughty’s answer
Dale Doughty, Mortgage Broker Or Lender, Falmouth, ME
Sat Feb 4, 2012
BEST ANSWER
You are a first-time home buyer if you have not owned a home in the past 3 years. Regardless of your monetary contribution to the payment, you are considered a homeowner if you are on the paperwork. However, there are few advantages to being a first-time home buyer since the repeal of the home buyer tax credit. The most popular purchase programs that I use, and that require little to no money down, have no stipulation that you have to be a first-time home buyer.

If you visit my website you can apply for pre-approval and I can recommend several options.
Web Reference:  http://www.daledoughty.com
1 vote
Laura Daly, Agent, York, ME
Mon Feb 6, 2012
The best thing to do is to talk directly with a mortgage broker as things in the mortgage business change daily . I do have access to names and phone numbers of loan offices who could help you.
0 votes
CJ Dubois-Co…, Agent, Saco, ME
Sat Feb 4, 2012
Beth,

You've received lots of advice below. Let me know when a convenient time would be this week for us to chat about your plans and getting pre-qualified. I have a nice one page sheet which outlines the steps for purchasing a home in today's market. I'm here to assist when you are ready, Beth.

CJ Dubois-Cote, Prudential Prime Properties, 207-615-1663 or cindy@prubay.com
0 votes
Lori Barrett, Agent, York, ME
Sat Feb 4, 2012
Hi Beth,

If you have been on any deed and/or mortgage in the last 3 years, you do not qualify as a 1st time homebuyer, regardless if you contributed financially to the mortgage. Is there something special you need to qualify as a 1st time homebuyer for? There are so many options for buyers now and in the York County area. We are a qualifying Rural Development area which allows for 100% financing. I have several lenders I could refer you to, should you decide you are ready to begin this process. Feel free to give me a call anytime on my cell phone at 207.337.1515 or email me at loribarrett@maine.rr.com. I look forward to hearing back from you! Enjoy your day.. Lori Barrett, Broker
0 votes
Margaret Mit…, Agent, York, ME
Sat Feb 4, 2012
Hi Beth - To qualify as a fisrst time home buyer, generally you must not have onwed a home in the last 3 years. There are some additional exceptions which include a single parent who has only owned a home with a former spouse while married.

I have some gfreat lenders that I work with who offer special programs for first time buyers including low down payment options. Please feel free to email me at margaret@margaretmitchellre.com and I will send you the contact info.

Best regards,
Margaret Mitchell
0 votes
CJ Dubois-Co…, Agent, Saco, ME
Sat Feb 4, 2012
Hi Beth,

As a Realtor, I can put you in touch with a reputable lender to answer your question(s). If you would like me to provide that service to you, please send me an email at cindy@prubay.com.

CJ Dubois-Cote, Prudential Prime Properties, 207-615-1663.
0 votes
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