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 for first-time buyers 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.