Articles and news about FHA loans and HUD requirements. FHA loans are great for first-time homebuyers.

Who is Considered a First-Time Homebuyer for FHA Loans?

There are many loan programs designed specifically to help first-time home buyers. Conventional loans may have special rates for first-timers, the VA offers a lower funding fee on its mortgage loans for first time home buyers, and the FHA is specifically dedicated to helping the first time house hunter make the right choices on a new home purchase.

New house hunters might not know, for example, about the Affordable Housing Program or Homeownership Set-Aside Program, created to help low income and middle-income buyers with FHA-approved down payment assistance. There are also state and local programs for first time home buyers and low-income house hunters the FHA can help qualified borrowers apply for.

But what does the FHA consider to be a “first time home buyer”?

According to the rules, a first time home buyer can include someone who has

7 Responses to Who is Considered a First-Time Homebuyer for FHA Loans?

  1. Heidi Tracy says:

    I have questions about buying a house. My husband and I have been living in an apt. for 4 yrs. and are ready to buy. Are credit was shaky a couple of years ago so I’m asking for advise on what we should do before we apply for a loan.

    Thanks Heidi Tracy

  2. Do you know what your current credit score is or how much it has increased?

  3. DB says:

    How can a Displaced Homemaker even get considered for a home loan, without the required 2 years of employment, when she has been out of the workplace for 20 years?

    I have great credit and a down payment but ony recently employed. Will a 10-year work history prior to becoming a stay-at-home mom be sufficient?

  4. heidi long says:

    Trying to get a FHA loan to buy my first house

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