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Am I considered a first time buyer

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oracles
Valued Contributor

Am I considered a first time buyer

i currently own a co-op however I have never own a house.

 

am I considered a first time buyer when purchasing my first house?

 

thank you all for your answers

Message 1 of 2
1 REPLY 1
StartingOver10
Moderator Emerita

Re: Am I considered a first time buyer

No, you are not a first time home buyer because you currently own a co-op.

 

It is not based on the type of property (house/condo/co-op/townhome), but on the fact that you have ownership interest in property. A co-op is ownership interest, even though it is a little bit different because you own shares in a corporation that owns the real property.  It still is considered ownership interest.

Message 2 of 2
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