Question about tax credit.

[Anonymous]

Right now I live in a single-wide trailer house.  The loan is an installment loan secured by the trailer, just like a car.  It is in a park and not tied to any land.  I am wanting to buy a modular house/doublewide and put on some land we just bought.  Can I qualify for the current first time home buyer tax credit being offered?  The reason I ask is because FHA will not loan on single-wide trailers as they are considered 'temporary" housing?  Any thoughts?

[ShanetheMortgageMan]

First off, I don't know the answer.  However since the first time homebuyer credit is also applicable if someone were to buy a house boat, which is kind of like a mobile home in a park (it's just a mobile home that happens to be on water), I'd think if you owned a mobile home (whether it's a singlewide, doublewide, in a park on leased land or on land you own) as your primary residence in the past 3 years then you would not be eligible for the first time homebuyer tax credit.  I hope I am wrong, but from the information I have I have a feeling you wouldn't be eligible.  You are can call the IRS and ask though, I am sure they would be a little helpful.

[Anonymous]

Thank you again.  I was afraid that might be the case.  However, it never hurts to ask!

[ShanetheMortgageMan]

You are welcome, and I just want to reiterate that I do not know the answer to this, and it is always suggested you contact the IRS or a tax professional when wanting tax advice.  I certainly would not act upon anyone else's.