First-Time Home Buyer
In general, a first-time homebuyer is typically defined as someone who has not owned a principal residence within the past three years. However, eligibility criteria can vary depending on the specific programs or incentives you are considering.
For instance, some government programs or financial institutions may have their own definitions and criteria for first-time homebuyers. It's essential to check the specific requirements of the program or institution you're interested in to determine if you qualify as a first-time homebuyer despite having owned a home previously.
In some cases, individuals who have previously owned a home may still qualify for certain benefits or assistance programs designed for first-time homebuyers, especially if they meet the eligibility criteria set by the program. It's always best to consult with a financial advisor or housing counselor to understand your options and eligibility for various programs.
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