If I am added to my mothers mortgage when she refinances, do I still qualify as a 1st time home buyer?
by Mortgage Rates on Wednesday, September 29th, 2010 | 3 Comments
-
Mortgage Info
-
Updates
-
Useful Links
-
-
Tags
2010 About article Auctions bank banks best Business buyers change Credit Debt Equity Financial First fixed Foreclosure From good Government Help Home house Housing interest Loan Loans Market more Mortgage Mortgages Need News options qualify Rate Rates refi refinance Refinancing should this Time variable would-
Meta
No, every buyer has to be first time and she isn’t. Getting on a mortgage doesn’t get you ownership either just debt.
NOPE.
Precludes you getting that benefit.
You both would have to be first time homebuyers. If your mother has already owned a home, you will both be unable to qualify for first time homebuyers.
A way around it, is that your mother could sell you the house which would qualify you for the first time home buyers.