Common use of First-time homebuyer Clause in Contracts

First-time homebuyer. Home purchases funded with tax exempt bonds shall be made to Mortgagors meeting the definition of First-Time Homebuyer as set forth in the Program Manual, unless meeting an exception permitted by the Code and communicated by the Authority to the Mortgage Lender. The Mortgage Lender shall verify the First-Time Homebuyer requirement as set forth in Section 4.04 hereof.

First-time homebuyer. Home purchases funded with tax exempt bonds shall be made to Mortgagors meeting the definition of First-Time Homebuyer as set forth in the Program Manual, unless meeting an exception permitted by the Code and communicated by the Authority to the Mortgage Lender. The Mortgage Lender shall verify the First-Time Homebuyer requirement as set forth in Section 4.04 hereof.