LandInvestors.com Forums **Ask A Question** Escrow & First Time Home/Land Buyer

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  • #25041
    Levi Gagnon
    Participant
    Post count: 10

    Hey there,

    Random question, but it relates to buying through escrow (either land or homes). I haven’t purchased a home for my family yet, so I will qualify for ‘First-Time Home Buyer’ incentives when I buy. If I purchase a piece of land through escrow, prior to actually buying a home through escrow, will that affect my first-time home buyer incentive? I’m just wondering if utilizing escrow for a piece of land will affect buying a home for the first time in any way.
    I’m thinking the mortgage side of purchasing a home is what affects the first time home buyers discounts, not the escrow process.
    Any feedback helps! Thanks.

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  • Kevin Farrell
    Moderator
    Post count: 1576
    ProAdvanced

    Levi – No, I don’t think buying or selling land will affect your status as a first time home buyer. It is really about the mortgage.

    Kevin Farrell - Moderator
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    Levi Gagnon
    Participant
    Post count: 10
    Pro

    Kevin, thanks for the response. I confirmed it with another source as well, so I should have nothing to worry about.

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