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What is the legal definition of a "first time buyer" as pertaining to receiving credit for that stat

The last time I owned a home was 2004.  Is it 3 years of no home ownership and not paying property taxes that defines a first timer? Thanks.
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July 29 2010 - Las Vegas
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Please read the policy for posting mikebra here. Self promotion is discouraged to make the board a friendlier place for people to ask questions and discuss. Answers are great, spam or pushing your website not so great. 
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December 29 2010
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December 28 2010
If you are trying to fit the criteria for a special lender product or for access for special funding, you need to ask your lender whether you can be a 1st time homeowner for each situation.
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August 01 2010
It really depends on what the purpose is for and correct answer. For some sources such as the Buyer credit that was offered and bond money, I think it was 3 years.

Some organizations truly mean you have never owned a home.

Sometimes there is a little flexability with heir properties that you never occupied and such.
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July 29 2010
Profile picture for wetdawgs
Three full years since last owning a home would define a first time home buyer.  There was also an income limit.  The irs.gov website gives the details.  The contract had to be signed by April 30, and the closing must be by the end of September (recently extended from the end of June).     So, if you've not yet made an offer on a house (and aren't military), then you don't qualify.

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July 29 2010
 
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