To be considered a first-time home buyer, you cannot have owned or co-owned a residence in the past three years. You'll also need to qualify for the mortgage like any other borrower. The mortgage lender will have a minimum credit score requirement and a maximum debt-to-income ratio.
How do I know if I qualify as a first time home buyer?
You may qualify as a first-time home buyer if you haven't owned your principal residence in the past three years. Qualifying as a first-time home buyer doesn't mean you've never owned a house.
Does Arizona have a first time home buyer tax credit?
The tax credit will equal 10% of your home's purchase price and cannot exceed $15,000, which means the lower number of the two will be the amount of the tax credit. I just bought in 2021!" Don't fret - The first-time homebuyer tax credit (if passed) is retroactive to .