May 28, 2020

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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

Joe Wallace - Staff Writer

By Joe Wallace

March 25, 2011

Joe Wallace has been specializing in military and personal finance topics since 1995. His work has appeared on Air Force Television News, The Pentagon Channel, ABC and a variety of print and online publications. He is a 13-year Air Force veteran and a member of the Air Force Public Affairs Alumni Association. He was Managing editor for for (8) years and is currently the Associate Editor for

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About was launched in 2010 by seasoned mortgage professionals wanting to educate homebuyers about the guidelines for FHA insured mortgage loans. Popular FHA topics include credit requirements, FHA loan limits, mortgage insurance premiums, closing costs and many more. The authors have written thousands of blogs specific to FHA mortgages and the site has substantially increased readership over the years and has become known for its “FHA News and Views”.

5850 San Felipe Suite #500, Houston, TX 77057 281-398-6111. is privately funded and is not a government agency.

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