2nd time Home Buyer Credit

**rfjf** · 03-24-2010, 03:53 PM

Hello,I am in contract to purchase my 2nd home which will be my primary residence. I will be keeping my first home as a rental. Do I qualify for the 2nd time Home buyers credit or do i need to sell my first home?
Heard somewhere that I do?

**Sabir** · 03-25-2010, 04:54 AM

Hi rfjf!

this depends upon your bank statement if you have enough money in your account or you was able to satisfy bank that you will give them money back then they will issue you money in no time.. Good Luck :-)

**rfjf** · 03-25-2010, 05:05 PM

Originally Posted by Sabir

Hi rfjf!

this depends upon your bank statement if you have enough money in your account or you was able to satisfy bank that you will give them money back then they will issue you money in no time.. Good Luck :-)

Satisfy bank so I will give them money back? Not Sure what you mean? Haven't heard I had to give money back on a Home Buyers Credit?
Thx rfjf

**marykaichini** · 03-26-2010, 08:38 AM

You needn't sell your first house if you have enough income to satisfy the bank. If your income is big enough and you can manage two loans, then no problem at all.But in case if you don't earn enough, you won't be given the loan.