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We are finally homeowners!!
Closed May 5th-30 yr fixed at 5.25%.
From the IRS site...
"For purposes of the credit, you are considered to be a first-time homebuyer if you, and your spouse if you are married, did not own any other main home during the three-year period ending on the date of purchase."
From the crediit form itself ...
" You (and your spouse if married) did not own any other main home during the 3-year period ending on the date of purchase."
It doesn't seem to care if he is on the loan or not, just whether he owned a home. From this I would say no. But ask a tax pro, I don't even play one on TV.
According to the IRS...
PRINCIPAL RESIDENCE.
In the case of a taxpayer using more than one property as a residence, whether property is used by the taxpayer as the taxpayer’s principal residence depends upon all the facts and circumstances.
If a taxpayer alternates between 2 properties, using each as a residence for successive periods of time, the property that the taxpayer uses a majority of the time during the year ordinarily will be considered the taxpayer’s principal residence.
In addition to the taxpayer’s use of the property, relevant factors in determining a taxpayer’s principal residence, include, but are not limited to:
(i) The taxpayer’s place of employment;
(ii) The principal place of abode of the taxpayer’s family members;
(iii) The address listed on the taxpayer’s federal and state tax returns, driver’s license, automobile registration, and voter registration card;
(iv) The taxpayer’s mailing address for bills and correspondence;
(v) The location of the taxpayer’s banks; and
(vi) The location of religious organizations and recreational clubs with which the taxpayer is affiliated.