what is considered first time home buyer
One of the FHAâs primary criteria is whether or not youâve owned a home. If youâve never owned a home, youâre considered a first-time homebuyer. But you are allowed to be a previous homeowner and still qualify as a first-time homebuyer. According to the FHA, you can do so if you have not been an owner in a primary residence for at least three years leading up to your purchase.