Q. Who is considered a first-time home buyer?

A. The definition is broader than you might think. Most programs for first-time buyers allow you to buy a home if you haven't purchased one in the last three years.

The Federal Housing Administration (FHA), a major sponsor of first-time buyer programs, adheres to the three-year rule. But there are state and locally sponsored programs that allow you to take advantage of special offers if you haven't bought a home in the last two years.

In fact, we've never heard of a first-time buyer program that is limited to those who have never purchased a home, though there may be some. Your lender will know which programs will work for you.

Our report on FHA loans has lots more information.

And you'll also want to check out our report on state programs to help you buy a home. At the bottom of that article is a link to state-by-state listings of housing program assistance.

Whether you're buying a home or refinancing an existing mortgage, we have a mortgage calculator that can help you make the right decisions.