March 08, 2024 16:26 Updated Follow A first-time homebuyer is someone who has not held ownership in his/her principal residence in the last three years. Related articles What criteria must I meet to qualify for your (IHCDA) programs? How does IHCDA's down payment assistance program work? What is a targeted area? How do I find a participating lender? Does refinancing anytime during the first nine years get rid of the recapture tax provision?