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    First Timer Benefits

    Are you a first time home buyer? You may be surprised at how the U.S Department of Housing
    and Urban Development (HUD) describes this title. Keep reading – meeting any of one of the
    following criteria allows you to take advantage of some significant benefits as a “First Time
    Home Buyer”.

    • An individual who has not owned a principal residence during the three-year period
    ending on the date of purchase of the property (and the spouse of such an individual)
    • A single parent who has only owned a home with a former spouse while married
    • A displaced homemaker who has only owned with a spouse
    • An individual who has only owned a principal residence not permanently affixed to a
    permanent foundation in accordance with applicable regulations
    • An individual who has only owned a property that was not in compliance with state,
    local, or model building codes—and which cannot be brought into compliance for less
    than the cost of constructing a permanent structure

    What are the benefits of being a first time home buyer, you ask? There are plenty, and you will
    need to do a little research to find out about all of them. For starters, there are HUD-issued grants
    and state programs you can take advantage of. In addition, if you meet one of the criteria listed
    above you can withdraw IRA funds penalty-free for housing related costs.

    If owning a home is part of your American Dream, it may benefit you to take a deeper look into
    first time home buyer benefits. It sure won’t hurt.

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