Back to Glossary
First-Time Home Buyer
Updated
January 19, 2023
A first-time homebuyer is an individual who has not owned a primary house during the three years preceding the date of acquisition. If one spouse is a homeowner while the other has never owned a property, both spouses are considered first-time homebuyers.
Related Topics
10 Best Home Builders in Nashville, TN: Find Your Dream Home Today
Wesley Mortgage 2023 Year-In-Review
What Is a Property Tax Lien
What Is an Adjustable Rate Mortgage (ARM)?
Navigating the Process of Mortgage Modification
What Is Non-Recourse Lending?
What Is a Short Sale?
When Is the First Mortgage Payment Due?