If you are looking to buy a home with a lower down payment, you could be interested in a first-time homebuyer program. However, you could be unsure of whether or not you might be able to qualify for one of these programs. If you have owned a home in the past, for example, you might not think that you will qualify. However, this might not be the case.

Are You Buying a Home for the First Time?

Obviously, if you have never owned a home of your own before at all, you should qualify for one of these programs. In fact, that is who the programs were originally established for. Therefore, if you have always lived with family or if you have always rented in the past, you should definitely consider looking into a first-time homebuyer.

Are You Divorced?

If you have owned a home before but owned it with a spouse who you are now divorced from, you may still qualify for this program. This may be the case if you are a single parent or if you were a homemaker when you were married. You may need to provide proof of these things if you do choose to look into a first-time homebuyer program.

Was Your Last Home on a Permanent Foundation?

If your last home was not on a permanent foundation, such as if you owned a mobile home that was never put on a permanent foundation, then you might qualify for the first-time homebuyer program.

Was Your Last Home Found to Be Not Up to Code?

Some people who have owned homes in the past are still able to qualify for a first-time homebuyer program due to the condition of the home that they owned previously. If the home was not up to code, for example, you could qualify for one of these programs.

As you can see, even though many people think that you have to be purchasing a home for the first time in order to qualify for the first-time homebuyer program, this is actually not the case. There are various other situations in which you might qualify for this program as well. If you still aren’t sure whether or not you qualify as a first-time homebuyer, consider sitting down with a mortgage broker. Then, he or she can talk to you about your options and the programs that you might qualify for.