Click To View Links

first time home buyer

by Mag


I have a question, I'm divorced and now I want to buy a house. My question is if I'm still a first time home buyer if my husband bought a house during our marriage using a VA loan.

I was never on the loan and I signed a quit claim deed. Also I was never on the title as well.

I got in my divorce decree that the house is all on him with all debt etc., as well as the first time home credit of $8000 that he took.

He bought the house in 2009 and we our got final divorce in 2011.

When the mortgage loan officer ask me if I ever owned any property I said that I had not, am I correct on that?

Thank you,



Hello Mag,

Thank you for stopping by my site and presenting your questions for me to answer.

If I understand this right, your question is: "am I a first time home buyer if I previously owned a house with my ex-husband?"

Well to make a long story short, the answer is yes and no. Kind of confusing I know, but here is why I say this.

By marriage you were a home owner. Even though you were not on title or the mortgage, legally you owned a home with your husband. However, technically speaking you were not an owner because you did not put yourself at risk by going on the mortgage.

So the fact you signed a quit claim deed, you no longer have any legal claim to the property. The quit claim deed accomplished that.

However, it appears to me your lawyer was wise in that he had your ex-husband take all responsibility for the $8,000 tax credit. This is a good thing since there were certain restrictions that came along with it that a person had to stay in the property for a certain period of time.

So chances are you were on a joint tax return which claimed the $8,000 tax credit. So in the eyes of the IRS you are a homeowner as well. If for some reason your ex-husband were to move out and end up owing the tax credit back to the IRS, then hopefully that document will protect you.

So as far as a truthful answer to the question have you owned a home before, the answer would be yes.

But you can still pursue a first time home buyer mortgage because you have not been on a mortgage in the past 3 years. Some programs have that restriction. However, the FHA loan does not, you just cannot have more than 1 FHA loan at a time.

Often times first time buyers use the FHA loan as the best one to choose.

So do not be afraid to explain to a loan officer your situation. You do not want to hide anything because the penalty for mortgage fraud is very stiff.

Tell him/her what happened and let them decide how to proceed.

I hope you find this helpful.

You may want to check out this webpage on first time home buyer loans. Many of my web visitors have found it helpful.

If you have any other questions feel free to reply to this answer in the comments section below.

Also, if you found my website helpful, do me a HUGE favor and "like" us in your FaceBook account and or give us a shout in your Twitter feed.

I wish you the best,

Jeffrey S. Ragan

Click here to post comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Ask The Expert.

New Jersey Grants

Click on Image to Learn More

South Carolina Grants

Click on Image to Learn More

Recent Articles

  1. FHA Lending Guidelines

    Jun 10, 17 02:58 PM

    According to the FHA lending guidelines, is it possible for escrow to be paid out of packet instead of rolled into the loan? What are the guidelines for a 2nd time home owner? These are answered below…

    Read More

  2. FHA Title 1 Loan Explained

    Jun 08, 17 08:15 PM

    Are you interested in the FHA Title 1 Loan program and wonder where to find a lender who works with this program? Others have wondered the same thing, find the answers on this page.

    Read More

  3. FHA Help

    May 26, 17 03:14 PM

    Would you like some FHA help? Perhaps you are wondering if it is wise to add a significant other to the mortgage? Or why a mortgage company would ask you to go conventional instead of FHA? Find answer…

    Read More

Buyer Programs

fha loans

The FHA Loan Products

Home Buyer Grants

zero down home loans

Zero Down Home Loans

Follow Us On Twitter

follow me on twitter