Plain meaning
A person who meets the applicable program definition for first-time homebuyer status, which can vary by tax measure or housing program.
Also called
first time home buyer
first-time homebuyer
Key points
- Different programs use different first-time homebuyer definitions, so the exact rule must be checked for the measure involved.
- Some rules look at whether the individual or spouse owned and occupied a home in a prior period.
- First-time status can affect FHSA eligibility, Home Buyers' Plan access, credits, or mortgage measures.
- Documentation and timing can matter when claiming a tax measure or using a registered-plan withdrawal.
Why it comes up
First-time homebuyer definitions appear in housing affordability measures, FHSA rules, mortgage reforms, and tax-credit announcements.