Posted on: 09th Jun, 2010 03:28 pm
I bought a house with my mother 5 years ago and i still own it to present but Im not on the loan just on the deed.now Im going to buy new house with my own loan as primary residet.Do i consider first time home buyer or seconed time home buyer for the loan purpose.
Welcome redaali,
As your name is mentioned on the property deed of the house which you purchased with your mother, you'll be considered as one of the owners of the property. Thus, when you plan to buy another property, you won't be considered as a first time buyer any more.
As your name is mentioned on the property deed of the house which you purchased with your mother, you'll be considered as one of the owners of the property. Thus, when you plan to buy another property, you won't be considered as a first time buyer any more.