DeployedAF asked:
I’m in the military stationed overseas. I want to purchase a home in the states but am being told that because I won’t be physically living in it within the next 3 months I don’t qualify for any first time home buyer incentives. Is this true or am I being fed a line? I don’t plan on renting either and will be making all the motgage payments.
Grace
I’m in the military stationed overseas. I want to purchase a home in the states but am being told that because I won’t be physically living in it within the next 3 months I don’t qualify for any first time home buyer incentives. Is this true or am I being fed a line? I don’t plan on renting either and will be making all the motgage payments.
Grace
Beverly
In order to qualify as a first-time homebuyer, you have to owner-occupy the residence. If you do not owner-occupy the home, you’re considered an investor and can’t qualify for first-time homebuyer programs. To qualify as an owner-occupier, you typically need to live in the house for at least the first 12 months. I haven’t heard of the 3 month move-in qualifier, but I would imagine that’s the deal.
Comment by David M — April 5, 2009 @ 10:11 pm