The definition of a first-time homebuyer may be broader than you expect. For most federal programs including FHA and many down payment assistance programs, a first-time homebuyer is defined as someone who has not owned a principal residence in the past three years. This means even if you owned a home previously, you may qualify as a first-time buyer if at least three years have passed since you last had ownership. Additionally, certain individuals always qualify as first-time buyers regardless of past ownership, including displaced homemakers, single parents who only owned a home with a former spouse, and individuals who only owned a property that was not permanently affixed to a foundation. Some state and local programs have their own definitions which may be more or less restrictive. The three-year rule opens up first-time buyer benefits to many people who assumed they would not qualify. At National Mortgage Home Loans, we evaluate your specific situation against all available programs to ensure you receive every benefit you are entitled to as a first-time or returning buyer.