Finance
A Missouri homebuyer using a first-time buyer program through MHDC must typically:
AHave never owned any property anywhere
BNot have owned a principal residence for the past 3 years (or be buying in a targeted area)✓ Correct
CHave a credit score over 750
DPurchase a new construction home only
Explanation
MHDC's first-time buyer definition generally follows IRS guidelines — the buyer (and spouse) must not have owned a principal residence for the past 3 years. Buyers in federally targeted areas or veterans may be exempt from the first-time buyer requirement.
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