Zillow Advice: Home Ownership - I bought my hous from dad. I am a first time home-buyer and never owned a home. Can i get credit? http://www.zillow.com/advice-thread/I-bought-my-hous-from-dad-I-am-a-first-time-home-buyer-and-never-owned-a-home-Can-i-get-credit/338533/ Zillow Advice | Zillow Real Estate No, you do not qualify.Per ... http://www.zillow.com/advice-thread/I-bought-my-hous-from-dad-I-am-a-first-time-home-buyer-and-never-owned-a-home-Can-i-get-credit/338533/ No, you do not qualify.<br/><br/>Per the official website:<br/><em>It is important to note that you cannot purchase a home from, among other family members, your ancestors (parents, grandparents, etc.), your lineal descendants (children, grandchildren, etc.) or your spouse or your spouse's family members.</em> Thu, 01 Apr 2010 02:49:00 GMT http://www.zillow.com/advice-thread/I-bought-my-hous-from-dad-I-am-a-first-time-home-buyer-and-never-owned-a-home-Can-i-get-credit/338533/ 2010-04-01T02:49:00Z I like the first answer the ... http://www.zillow.com/advice-thread/I-bought-my-hous-from-dad-I-am-a-first-time-home-buyer-and-never-owned-a-home-Can-i-get-credit/338533/ I like the first answer the best (albeit wrong)<br/><br/>And no, there are no other factors involved in answering your question.<br/><br/>Sunnyview is correct. The answer is no. Tue, 30 Mar 2010 17:08:00 GMT http://www.zillow.com/advice-thread/I-bought-my-hous-from-dad-I-am-a-first-time-home-buyer-and-never-owned-a-home-Can-i-get-credit/338533/ 2010-03-30T17:08:00Z No. You do not qualify for ... http://www.zillow.com/advice-thread/I-bought-my-hous-from-dad-I-am-a-first-time-home-buyer-and-never-owned-a-home-Can-i-get-credit/338533/ No. You do not qualify for the credit because you bought from your dad. You can read all the rules on their site&nbsp;<a rel="nofollow" href="http://www.irs.gov/newsroom/article/0,,id=206291,00.html">here</a>&nbsp;The IRS says "<strong>Q. Who cannot take the credit?</strong><p>A. If any of the following describe you, you cannot take the credit, even if you buy a new home:</p><ul><li>You buy your home from a close relative. This includes your spouse, parent, grandparent, child or grandchild."&nbsp;</li></ul> Tue, 30 Mar 2010 16:41:00 GMT http://www.zillow.com/advice-thread/I-bought-my-hous-from-dad-I-am-a-first-time-home-buyer-and-never-owned-a-home-Can-i-get-credit/338533/ 2010-03-30T16:41:00Z I believe that you cannot ... http://www.zillow.com/advice-thread/I-bought-my-hous-from-dad-I-am-a-first-time-home-buyer-and-never-owned-a-home-Can-i-get-credit/338533/ I believe that you cannot buy a home from a relative and still qualify, but here is the <a href="http://www.federalhousingtaxcredit.com/faq1.php" rel="nofollow">Government Link For Tax Credit</a> so you can read the questions and answers as well as the rules. Also be sure and talk to a qualified CPA.<br/><br/>Good Luck! Mon, 29 Mar 2010 18:50:00 GMT http://www.zillow.com/advice-thread/I-bought-my-hous-from-dad-I-am-a-first-time-home-buyer-and-never-owned-a-home-Can-i-get-credit/338533/ 2010-03-29T18:50:00Z There are quite a few other ... http://www.zillow.com/advice-thread/I-bought-my-hous-from-dad-I-am-a-first-time-home-buyer-and-never-owned-a-home-Can-i-get-credit/338533/ There are quite a few other factors involved in answering your question: When did you buy? How much was the home?&nbsp; There are also income restrictions.&nbsp; Please provide more information about your situation.&nbsp; <br/> Mon, 29 Mar 2010 16:19:00 GMT http://www.zillow.com/advice-thread/I-bought-my-hous-from-dad-I-am-a-first-time-home-buyer-and-never-owned-a-home-Can-i-get-credit/338533/ 2010-03-29T16:19:00Z