Question about purchasing points without being a home owner

[NYAna]

Hi all,

My husband and I do not own a home nor have we ever owned a home in the past. I've always heard about the help you can get when you purchase your first home. So, my question is... if I buy into DVC will this be considered my "first home". I sure hope not because it truly isn't.

My husband and I plan on purchasing a home in about 3 years.

Any help will be great. I plan on purchasing points tomorrow.

Thanks everyone!

 

[alldiz]

I dont think so...
the help is usually a lower point mortgage...
good luck
kerri

 

[korbbec]

No. I don't own a home either. Maybe if you were to apply for a mortgage to finance your DVC? But I do not think you could do that because you do not own the DVC unit after you buy in- you only own the RTU on it. It will not affect any first time home buyers incentives.

 

[vandy]

Your purchase is not considered a mortgage and is treated more like a personal credit loan (car, boat, credit card etc.). Yes you will a title deed ownership in a real estate development, but it is not the same as being a home-owner.