If your Missouri driver or nondriver license or instruction permit is expired more than 6 months (184 days), you do not qualify for this exemption. The exemption also does not pertain to those obtaining a new instruction permit, driver license, or nondriver license.
One of the FHAâs primary criteria is whether or not youâve owned a home. If youâve never owned a home, youâre considered a first-time homebuyer. But you are allowed to be a previous homeowner and still qualify as a first-time homebuyer. According to the FHA, you can do so if you have not been an owner in a primary residence for at least three years leading up to your purchase.
Of course, there are a couple of downsides to selling your home first. If you are unable to buy a new place in time for the settlement date; you and your family will need to find temporary accommodation until you are able to purchase a new place.n added risk to buying a home first is that you donât know whether or not you will be able to cover the full cost when you sell your old home. A possible option is to rent out your old property for a certain period of time before selling it, to help make up some of the costs of your new home in rental income.