When Are You Considered a First-Time Homebuyer Again?

Dusty Rhodes • October 6, 2025

Buying a home is an exciting time, whether this is your first time purchasing a house or you’re a repeat buyer. But if you’ve owned a home before, you may be wondering if you can be a first-time home buyer again. In some cases, yes, you can. 


In this Redfin article, we’ll go over what qualifications you need to meet and when you can be considered a first-time homebuyer again. Whether you’re buying a home in Atlanta, GA, or a condo in Portland, OR, read on to find out if you’re eligible to be a first-time homebuyer twice.


Key takeaways

  • Usually, you’re a first-time homebuyer again if you haven’t owned a home in 3 years. 
  • Some special situations may also qualify you as a first-time buyer.
  • Benefits include down payment and closing cost assistance and lower interest rates.


When are you considered a first-time homebuyer again?


Typically, you’re considered a first-time homebuyer again if you have not owned a primary residence for at least three years. There are several additional reasons you may qualify as a first-time homebuyer again, which we’ll explore below. Some first-time homebuyer programs have different definitions of “first-time homebuyer,” so check with the specific program before proceeding. 


Qualifications to be considered a first-time homebuyer


There are other reasons you may qualify as a first-time homebuyer twice. Let’s take a look at them:

  • You haven’t owned a primary residence for 3 years: This means if you owned a home, but sold it and rented for 3 (or more) years, you can be considered a first-time home buyer again. If you’re buying with another person, only one of you needs to meet the criteria to use most first-time home buyer programs.
  • You’re a single-parent buying on your own: If you’ve never purchased a home by yourself and are a divorced single-parent, you may qualify again. Even if you purchased a home with your former spouse, you likely still meet the criteria.
  • You’re a displaced homemaker/family caregiver: If you are a displaced homemaker who doesn’t or didn’t earn wages from employment and has only owned a home with a former spouse, you’re likely considered a first-time homebuyer. 
  • You previously owned a mobile home: If you owned a mobile home or property not affixed to a foundation, then you likely qualify.
  • Your previous home was out of compliance: If your home had building code violations or safety issues that could not be repaired or brought into compliance for less than the home’s value, you’re likely eligible. 


Benefits of being a first-time homebuyer again


There are benefits to being a first-time homebuyer twice. Let’s take a look at them:

  • Access to first-time homebuyer programs: One of the biggest benefits is the ability to use first-time homebuyer programs such as down payment and closing cost assistance, grants, credits, or loans. Every program has different qualifications, so make sure to research each program or speak with your agent and lender to explore options.
  • Options for low down payment mortgages: There are several loans available for first-time buyers that offer lower down payment amounts. For example, Freddie Mac’s Home Possible and Fannie Mae’s Home Ready offer down payment amounts as low as 3%. 
  • Potentially lower mortgage rates: Sometimes, lenders will offer slightly lower mortgage rates to first-time borrowers to help them buy their first home. 


FAQs about first-time homebuyers


Can I be a first-time homebuyer again if I previously owned a home?

Yes, as long as you haven’t owned a primary residence in the last 3 years, or you owned a home while previously married. 


Do both homebuyers need to be first-time homebuyers to qualify?

No, in most cases, as long as one homebuyer meets the qualifying criteria, then you’re considered a first-time homebuyer. However, some programs require both homebuyers to be first-timers. 


Can I qualify for a first-time homebuyer loan again? 

Yes, for the most part, if you qualify as a “first-time homebuyer,” you can get another first-time homebuyer loan. Every lender and loan is different, so be sure to read the eligibility criteria thoroughly. 


Are there income limits for programs?

Yes, many first-time homebuyer programs have income limits. This means you won’t qualify if you make more than the specified annual amount. 



Source: Redfin


Dusty Rhodes Properties is the Best Realtor in Myrtle Beach! We do everything in our power to help you find the home of your dreams. With experience, expertise, and passion, we are the perfect partner for you in Myrtle Beach, South Carolina. We love what we do and it shows. With more than 22 years of experience in the field, we know our industry like the back of our hands. There’s no challenge too big or too small, and we dedicate our utmost energy to every project we take on. We search thousands of the active and new listings from Aynor, Carolina Forest, Conway, Garden City Beach, Longs, Loris, Murrells Inlet, Myrtle Beach, North Myrtle Beach, Pawleys Island, and Surfside Beach real estate listings to find the hottest deals just for you!

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By Dusty Rhodes • September 21, 2026
NAR says introducing competition into the credit scoring process has the potential to lower costs, improve efficiency and open the door to more qualified home buyers. The Federal Housing Finance Agency, Fannie Mae and Freddie Mac are moving forward with updated credit scoring models for all forms of mortgage lending. The announcement was made by Federal Housing Finance Agency Director William J. Pulte. The FHA followed suit announcing it would accept Vantagescore and a new FICO score beginning in 2027. The move builds on Pulte’s announcement last year that Fannie Mae and Freddie Mac would begin testing VantageScore 4.0 as part of the mortgage underwriting process. The National Association of REALTORS® welcomed the change, saying a more modern approach to evaluating credit could broaden access to mortgage financing. The updated models may be particularly helpful for consumers with limited traditional credit histories, giving more prospective buyers an opportunity to qualify for a mortgage. “The Federal Housing Finance Agency’s announcement marks an important step forward in modernizing the mortgage marketplace,” says NAR Executive Vice President and Chief Advocacy Officer Shannon McGahn. “For years, the National Association of REALTORS® has advocated for a more competitive and innovative credit scoring system, one that better reflects how consumers manage their financial lives today.” VantageScore 4.0 was created by Equifax, Experian and TransUnion and is designed to evaluate credit behavior over time. The model can also incorporate certain payment information that has historically received less consideration in credit scoring, including rental, utility and telecommunications payments. Consumers who consistently make those payments on time could benefit from having that information reflected in their credit profiles. The Fair Isaac Corporation, commonly known as FICO, is working to implement its own modern score. “Introducing competition into the credit scoring process has the potential to lower costs, improve efficiency and open the door to qualified borrowers who may have been overlooked under older models,” McGahn says. “By allowing multiple credit scoring models that consider rent, utility and other payment histories, this policy can provide a fuller picture of a borrower’s creditworthiness and open the door to homeownership for more Americans.” NAR says the availability of additional credit scoring models could increase competition within the credit reporting industry while potentially improving accuracy and reducing costs. NAR will also continue to monitor the mortgage market and the experiences of lenders and consumers as these models are implemented to help ensure they are working as intended. This includes evaluating how the models affect access to credit, accuracy and consistency in mortgage underwriting and the broader homeownership market.  For more information, visit fhfa.gov/policy/credit-scores.