I was recently referred to a prospective client with a sizable IRA and 401k. She lives in town but her husband lives about 8 hours away. They currently own a double wide where her husband works but she is wanting to purchase a home in town. Can you clarifiy whether or not she qualifies for the first time homebuyer exception for a downpayment on her new home since she currently owns a double wide? This sounds like a joke, but it’s a real question.

Thanks,
Chris