Do I qualify as a first-time homebuyer if I owned a home in the past, but no longer own one?

Fannie Mae and Freddie Mac have opened up programs such as HomePossible and HomeReady to now include moderate income borrowers who not only have owned a home in the past 3 years, but who still own property. As long as the home you’re looking to buy is to be used as your primary residence and you fit the HomeReady or HomePossible ‘moderate income’ guidelines you have access to the same 3% down payment programs as a traditional ‘First Time Homebuyer’.

Contact BOE Mortgage to learn more about HomeReady or HomePossible options for you.