I have a client who lives in California but is buying an investment in AZ. She put this question to me:

"By purchasing this property in Arizona, would I be consider a first time home buyer if I want to buy a property in California at later time? I know that for California, as a first time home buyer, the buyer don't have to put a down payment."

Does anyone know the answer? Is there a special program in California that lets first time buyers buy a home with zero down?

Thanks

My guess would be maybe. :p

There are all sorts of "0" down payment programs available most everywhere.

I also believe most states have some sort of bond money financing for people that have not owned a house ever or within a specified time frame.

In Tennessee ours is called "Tennessee Housing Development Authority" or THDA.

If you have not owned a house in the past 3 years that was your principal resident you qualify for their special, lower than market rate interest rates. If you have owned a house you lived in anywhere, not just in Tennessee, you would not qualify for this financing.

Most buyers refer to this as the "first time buyers program".

I'm sure there are different guidelines in California and/or Arizona but I would be the principles are the same.