All Forum Posts by: Teng Yang

I'm looking for some clarity on my situation.

Me and a business partner bought a duplex together under our LLC. We are named as guarantors on the loan with the LLC as the owner/buyer. However, I am looking to buy a house for myself as a personal residence. Am I still considered a first time home buyer even though I am a mortgage guarantor on my LLC's mortgage? I do not own a house at the moment and have not for the past 3 years. I am also not guarantor for anything else.

There are a few first time homebuyer programs that I hope to be able to qualify for.

Thanks in advanced!

John Woodrich and Phillip Kuehne at LB Carlson are great CPAs to go with. They have extensive experience in this field. Definitely reach out to them.