This week’s question comes from Carolyn through Ashley’s direct messages on Instagram. Carolyn is asking: I just bought my first investment property in cash. Am I still considered a first-time homebuyer? What happens if I take out a mortgage on that property?First-time homebuyer loans tend to confuse many real estate rookies. When it comes to first-time homebuyer loans and programs, what options do you have? Some investors think that they can only use loans like the FHA loan for their first home, while others may be enticed by first-time homebuyer programs that boast a lot of benefits, but with a ton of red tape. Which loans work for which investors, and what happens when you want to refinance?Here are some suggestions:Remember that loans like the FHA loan are not reserved for first-time homebuyersSpecial loan programs designed for first-time buyers could help you fund your down payment, but you’ll want to read the fine printLook for state-specific grants when buying your first home (you could come across some free funds!)If you are going to refinance after a cash purchase, be sure to double-check the “seasoning” period with your lenderAnd more in the episode…If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group! Or, call us at the Rookie Request Line (1-888-5-ROOKIE).Links from the ShowReal Estate Rookie PodcastReal Estate Rookie Facebook GroupBiggerPocketsCheck the full show notes here: https://www.biggerpockets.com/blog/rookie-212Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.