Generally speaking, you’re considered a first-time home buyer if you haven’t had any form of ownership in any home in the last 3 years.

First-time homebuyers have access to the same loan programs as seasoned buyers: Conventional, FHA, USDA, and VA loans as long as they qualify. There are additional programs that make it a little easier to purchase a house for the first time. For example, Fannie Mae and Freddie Mac offer a low down payment program with as little as 3% down to first-time home buyers.