Utah Down Payment Assistance & Grants: First-Time Homebuyer Definition

Sunday, April 10, 2011

First-Time Homebuyer Definition

HUD defines a first-time homebuyers as:

An individual who has had no ownership in a principal residence during the 3-year period ending on the date of purchase of the property. This includes a spouse (if either meets the above test, they are considered first-time homebuyers.

A single parent who has only owned with a former spouse while married.

An individual who is a displaced homemaker and has only owned with a spouse.

An individual who has only owned a principal residence not permanently affixed to a permanent foundation in accordance with applicable regulations.

An individual who has only owned a property that was not in compliance with State, local or model building codes and which cannot be brought into compliance for less than the cost of constructing a permanent structure.

	An individual who has had no ownership in a principal residence during the 3-year period ending on the date of purchase of the property. This includes a spouse (if either meets the above test, they are considered first-time homebuyers.
	A single parent who has only owned with a former spouse while married.
	An individual who is a displaced homemaker and has only owned with a spouse.
	An individual who has only owned a principal residence not permanently affixed to a permanent foundation in accordance with applicable regulations.
	An individual who has only owned a property that was not in compliance with State, local or model building codes and which cannot be brought into compliance for less than the cost of constructing a permanent structure.