Can You Be a First-Time Home Buyer Twice? 🏡🔄🤔
🌀 Can You Be a First-Time Home Buyer Twice in Hampton Roads? Yes—And It Could Mean Big Savings
If you’re buying in Virginia Beach, Chesapeake, or Norfolk, here’s good news: you can qualify as a first-time home buyer again—even if you’ve owned a home before.
🏡 Under HUD guidelines, you're considered a first-time buyer if you haven’t owned a principal residence in the past three years. That means you may qualify again if:
You sold your previous home more than three years ago
You currently don’t own a primary residence
You’ve only owned investment property or a manufactured home not attached to land
💸 Why it matters: First-time buyer status can unlock grant programs, down payment assistance, and flexible loan options—especially valuable in Hampton Roads’ competitive 2025 market.Absolutely—you can be a first-time home buyer twice, and in Hampton Roads, that could mean big savings.
🗝️ Key Takeaways:
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You can qualify as a first-time home buyer more than once under certain conditions.
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If you haven’t owned a principal residence in the last 3 years, you may be eligible again.
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Hampton Roads buyers—including those in Virginia Beach, Norfolk, Chesapeake, and Portsmouth—may access local grants, DPA programs, and low-interest loans..
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Each case is unique—consulting a local expert can make all the difference.
What are the Benefits of Being a First Time Buyer?
Being considered a first-time home buyer again opens the door to exclusive financial benefits, especially if you’re purchasing in Virginia Beach, Norfolk, Chesapeake, or Portsmouth.
Here’s what you could gain:
✅ Down Payment Assistance (DPA) --Many programs, like the Virginia Housing DPA Grant, offer up to 2.5% of the home’s purchase price—a significant savings for eligible buyers.
✅ Lower Interest Rates --First-time buyers may be eligible for a 1% interest rate cut through the SPARC program or even a 2% rate cut for qualifying first generation home buyers.
✅ Access to Exclusive Community Programs --Many local grants and programs are reserved specifically for first-time buyers who are purchasing in specific cities—like Chesapeake, Portsmouth or Norfolk. These programs have additional funds that can combined with other programs like, SPARC or Virginia Housing's DPA grant for even greater savings!
What Programs and Grants are Available to to First Time Home Buyers in Hampton Roads?
🔑 Programs You Might Qualify For:
Virginia Housing’s DPA Grant – Up to 2.5% toward your down payment
Virginia Housing Plus Second Mortgage – Covers 100% of down payment and gives you an additional 1.5% for closing costs
Federal Home Loan Bank (FHLB) Grant – Up to $15,000 for qualifying first time home buyers for down payment or closing costs
Community Partners Programs – Up to $20,000 for active duty and retired military, educators, police officers, and first responders that can be used for down payment or closing costs.
Check out the table below for more local resources:
Hampton Roads Buyer Spotlight: From “Not Sure” to “New Keys”
Let me tell you about Maris, a buyer client I recently helped to buy a new construction home. Though she had owned homes in the past she currently did not own one and it had been over 3 years so she was able to qualify as a first time buyer.
After a quick consultation, we talked about what was important to her in buying a home and the best way to get there. To make a long story short, she found a great new condo and was able to use Virginia Housing’s FHA Plus Program giving her 101.5% financing--meaning her down payment was covered plus an additiona 1.5% for closing costs assistance!
She found her perfect home and you can too—you just need to know what resources as available and a have a solid plan to make your real estate dreams come true.
👉Real Estate Success Stories and Client Reviews
🏡 First-Time Buyer FAQ: Can You Qualify Again?
1. I bought a home years ago—can I really be a first-time buyer again?
Yes! If you haven’t owned a principal residence in the last 3 years, HUD considers you a first-time buyer again. That means you could qualify for grants, down payment assistance, and lower interest rates—even if you’ve owned before.
2. What if I owned a home with my ex—can I qualify solo now?
You can as long as you haven’t been on the deed of a primary residence in the past 3 years, you’re typically eligible. Divorce, separation, or selling your share doesn’t disqualify you from starting fresh.
3. Are these programs only for low-income buyers?
Not necessarily. While most programs are for low to moderate income, there are other options—like Virginia Housing’s expanded non-bond program—which allows income up to $175K. That opens the door for many middle-income buyers to benefit too.
4. What kind of help can I get as a repeat first-time buyer?
- Up to 2.5% toward your down payment via Virginia Housing’s DPA Grant
- 101.5% financing through FHA Plus (yes, that covers closing costs too!)
- Up to $15,000 from FHLB or $20,000 for community partners like military and police
Some of these programs can be combined together for serious savings.
5. How can I learn more about my options as a home buyer?
Talk with a local expert who is experienced in helping buyers purchase homes with these types of buyer incentives. Liz Schuyler with RE/MAX Allegiance is very familiar with Hampton Roads housing programs and offers free home buyer consultations to discuss options and create a custom strategy.
🎯 Thinking About Buying?—Book a Free Consultation Today
Let's talk about your real estate plans and the best way to make them happen. I’ll walk you through it with trusted advice, proven strategies, and personalized guidance based on your unique circumstances.
🌀 First-Time Buyer… Again?
Life happens—divorce, relocation, or time away from ownership. You might qualify for first-time perks all over again. I’ll help you explore grant programs, low-down-payment options, and smart strategies to re-enter the market with confidence. 🏡
📅 Book Your Free Home Buying Strategy CallThanks for Reading,
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