### Question
What is the definition of first-time homebuyer?


### Answer
The definition of **first-time homebuyer** is as follows in *42 U.S.C. § 12704*:

> an individual and his or her spouse who have not owned a home during the 3-year period prior to purchase of a home with assistance under subchapter II, except that—


(A) any individual who is a displaced homemaker may not be excluded from consideration as a first-time homebuyer under this paragraph on the basis that the individual, while a homemaker, owned a home with his or her spouse or resided in a home owned by the spouse

#### Citation:
  - *42 U.S.C. § 12704*
  - Heading: **CHAPTER 130-NATIONAL AFFORDABLE HOUSING > SUBCHAPTER I-GENERAL PROVISIONS AND POLICIES**

