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    kitty7997's Avatar
    kitty7997 Posts: 3, Reputation: 1
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    #1

    Apr 8, 2009, 10:16 PM
    If husband was cosigner on loan, are we eligible for first-time homebuyer credit
    My husband cosigned on a condo loan with his brother 10 years ago, his name is not on deed just the loan. I was wondering, since we are now buying our first house together do we qualify for the first time homeowner credit on our taxes?
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
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    #2

    Apr 9, 2009, 06:17 AM

    A "first time home buyer" as defined for the housing tax credit is someone who has not owned their principal residence for at least the past three years. Being a co-signer on a loan does not make you an owner. So yes, you qualify.

    Here's some good info on the credit:
    Federal Housing Tax Credit for First-Time Home Buyers: Frequently Asked Questions
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