First Time Homebuyer Considerations
Question: Who is considered a first time homebuyer?
Answer: First Time Homebuyers are people who haven't owned a home in the last 3 years. Many lending underwriters will expect continuous ownership for 3 years as well.
The mortgage loan guidelines have expanded significantly over the last few years. Minority ownership has reached an all-time high, and first time homebuyers now have more options than ever.
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