Does a mobile home qualify as a home for first time homebuyers credit?
by Mortgage Rates on Wednesday, October 6th, 2010 | 4 Comments
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Yes. It does disqualify you. You were a home owner about 26 months ago.
a mobile home is a home. You bought it as a first time homebuyer. Therefore your recent pruchase of a ‘real house’ is not a first homebuyer credit.
Ok…lots of people are posting that obviously have no experience with mobile homes.
FIRST…a mobile home is NOT real estate…it is PERSONAL property…like a car…that is why the original title comes through the DMV….it has a serial number…like a car.
Second…if you had a mobile home and you rented a lot…then YES, you qualify for a first-time homebuyer’s credit…b/c all you owned was personal property.
Third, if you had a mobile home and you OWNED the lot…then NO, you would not qualify…b/c land is considered real estate.
Agree with expert above…BUT..Don’t jump on that first time homebuyers bandwagon just yet! Remember that you have to pay it back so it isn’t free money.