How to Find First-Time Home Buyer Financial Support. There are two ways to find these types of financial support programs in your area: Most cities have a mayor’s office of housing, so you can search for housing programs on the mayor’s website.
A: There is a four-year rule that would allow you to be considered a first-time home buyer again in 2017, as long as you haven’t occupied a home that you or your current spouse or common-law.
Again, you must be a first time home buyer. In this case, however, the IRS considers anyone who has not owned a home in the last 2 years as a first time buyer. In most cases, you can borrow up to $10,000 of your IRA for a down payment or for closing costs. However, you will be responsible for the taxes when you file your taxes for the year.
For example, the Nova Scotia First-Time Home buyers rebate helps first-time buyers get back 18.75%, up to a maximum of $3,000, of the provincial portion of the HST on newly-constructed home purchases. Neither of the two buyers who will occupy the home can have owned a home in Canada in the last five years.