Can You Be a First-Time Home Buyer Twice? 🏡🔄🤔
Can You Be a First-Time Home Buyer Twice?
🗝️ 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.
Think you’ve missed your shot at first-time buyer perks just because you’ve owned a home before? Think again.
Under HUD guidelines, you're considered a first-time home buyer if you have never owned a principal residence before, or if you have it was over three years ago and you currently don't own one now.
(Source: HUD.gov)
This includes:
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Former homeowners who sold 3+ years ago
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Those who have ownership interest in a manufactured home (not attached to the land)
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Those who own investment property as long as they have not lived there in the last 3 years
As a full-time REALTOR® in Hampton Roads since 2001, I’ve personally helped hundreds of clients in Virginia Beach, Norfolk, Chesapeake, and Portsmouth take advantage of these programs—even after previous homeownership.
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!
🔑 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:
As a Hampton Roads REALTOR® with decades of experience helping first-time and repeat buyers, I’ve seen these programs help clients walk into their new home with minimal out-of-pocket costs—and peace of mind.
As a Hampton Roads REALTOR® with decades of experience helping first-time and repeat buyers, I’ve seen these programs help clients walk into their new home with minimal out-of-pocket costs—and peace of mind.
Hampton Roads Buyer Spotlight: From “Not Sure” to “New Keys”
Let me tell you about Maris, a buyer 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.
👉 Schedule a Free Call to Learn More: https://calendly.com/liz-schuyler
FAQ: What Hampton Roads Buyers Need to Know
❓Can I qualify again if I’ve used first-time buyer help before?
Sometimes—some programs are one-time only, but others reset after 3+ years. Always verify with a local expert or loan officer.
❓I owned a home with my ex—can I qualify solo now?
Yes, as long as you haven’t been on a primary residence deed in 3 years, you're typically eligible.
❓Does a past foreclosure disqualify me?
No. In most cases, if it's been 3+ years, you may still qualify for both loans and grants.
❓Do I have to be low-income?
Not necessarily. Many programs target moderate-income buyers, especially in targeted areas of Hampton Roads.
🏡 Why Work With Me?
📍 Liz Schuyler | Local REALTOR® Since 2001
✔️ Over 24 years of trusted real estate experience
✔️ Hundreds of homes sold across Virginia Beach, Norfolk, Chesapeake, and Portsmouth
✔️ Recognized authority on first-time buyer programs and strategy
✔️ Proven results backed by client success stories and strong market knowledge
🎯 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.
📅 Slots fill quickly—schedule your free home buyer consultation now:
Thanks for Reading,
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Need Help with the Down Payment? Check out https://www.1sttimehomebuyergrants.com/
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