I have a income of 47000, and I am not a first time homebuyer due to my parent age and living situation. Are there any programs available?

Asked by sgee1975, Bloomfield, CT Wed Apr 2, 2014

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Lisa Orme, Agent, Windsor, CT
Thu Apr 3, 2014
There ARE programs available, and I'm not quite sure what you mean by you are "not a first time homebuyer due to my parent age and living situation". There is a specific definition for a first-time home buyer which is that you have not owned a home in your name for the last three years. They will usually look at your tax returns to see if you have taken a home mortgage interest deduction. If you have rented or lived in with a relative for three years and a day, you are once again a "first-time home buyer".

Beyond that, whatever programs are available will still consider not just your income, but your credit history and credit score, employment history, and the amount of down payment you are bringing to the transaction.

I would be glad to discuss this with you in detail...I have sold homes in the Windsor-Bloomfield area for many years now...please call me at 860-688-1400.
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Hello Lisa,
What I meant by I am not a first time homebuyer is that the title is mine and there is no mortgage. But my parent lives in the property. I am looking for programs that can help me with downpayment and closing cost. if the sellers are not willing to pay it. Most of the programs that I have encountered are more so for first time homebuyer.
Flag Thu Apr 3, 2014
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