Home Buying in New Castle>Question Details

Minniemouse, Home Buyer in New Castle, DE

If you were listed on deed only and house belongs to your ex-spouse, and never had a mortgage in your name, can you be considered a FT home buyer?

Asked by Minniemouse, New Castle, DE Wed Apr 20, 2011

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Katina Geralis’ answer
Once your name is on any Deed, or you inherited any interest in residential property, anywhere in the world, NCC says you aren't a first-timer. However, if you are buying property within the City of Wilmington boundaries, you are considered a first-timer if you haven't owned any residential property in the city in the past three years (only one year if you're moving because of divorce or separation). Feel free to call me ifi can assist. 302-383-5412
0 votes Thank Flag Link Wed Apr 20, 2011
The answer is "no" because you have owned a home before but if you were taken off the deed over 3 years ago most programs will let you be considered a first time home buyer after 3 years of not owning a home. We are required to review your tax returns for the last two years so if you filed with your ex-spouse the house would show up and you would be dis-qualified.

Feel free to call me or e-mail me to discuss the details of your particular situation and we can see if there is a program for you because there are numerous different programs in Delaware. 302-703-0727 Office

John R. Thomas
Certified Mortgage Planner
Primary Residential Mortgage
248 E Chestnut Hill Rd
Newark, DE 19713
0 votes Thank Flag Link Wed Apr 20, 2011
If you are on the deed you are not considered a 1st time home buyer. Now, for mortgage purposes, if you have not owned a home in 3 yrs. some mortgage programs will consider you a 1st time buyer again and you would qualify for that special program. HOpe that helps. Anything more I can do, just let me know.
0 votes Thank Flag Link Wed Apr 20, 2011
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