Compare Mortgage Quotes

ntrombly · Joined: 19 Jul 2010 Posts: 1 1.31 Dollars($)

My husband and I just purchased our first home. We needed my parents to be co-signers on the house to qualify for the loan.

My question is are my husband and I able to apply for the First-time homebuyer credit or no since my parents are on the loan as well and are not first-time homebuyers?

We signed a purchase agreement on April 29 and closed escrow on June 29, so we do fall within the proper time frame.

Thanks for your help!

Niicss · Posted: Tue Jul 20, 2010 2:16 am Post subject:

As your parents are co-signers of the loan, then their name should be mentioned in the property deed. If your parents own a property of their own, then they would not be considered as first time buyers. In that case, you won't be able to qualify for a first time home buyers tax credit.

Company	Loan Type	APR	Est. Pmt.
				Go
				Go
				Go
				Go
				Go
				Go

Compare Mortgage Quotes

First-time Homebuyer Credit Question

Financial Tools

Our Community

Community Rewards

Property State:
Property Type:
Credit Rating:

All times are GMT - 7 Hours

Page 1 of 1