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.
The average age of a first-time buyer has risen to 31, according to Moneyâs exclusive research. Indeed, the majority only get onto the ladder after receiving help from their families. Many of their parents bought their first homes while in their twenties using 100% mortgages.