The definition of a "first-time homebuyer" can vary depending on the context, but generally, it refers to someone who has not owned a principal residence within the past three years. This definition is often used by government programs and lenders offering special incentives or assistance to first-time buyers.

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As for mortgage eligibility, several factors come into play, regardless of whether you're a first-time buyer or not. Here are some key considerations:

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• Credit Score: Lenders typically look at your credit score to assess your creditworthiness. While specific requirements vary, a higher credit score generally increases your chances of qualifying for a mortgage and securing favorable terms.

• Income and Employment History: Lenders evaluate your income and employment history to ensure you have the financial stability to repay the loan. You'll need to provide documentation such as pay stubs, tax returns, and employment verification.

• Debt-to-Income Ratio (DTI): Lenders calculate your debt-to-income ratio by dividing your monthly debt payments by your gross monthly income. A lower DTI ratio indicates less financial strain and may improve your mortgage eligibility.

• Down Payment: The amount of money you can put down upfront affects your mortgage eligibility. While some loans, like VA and USDA loans, offer options with no down payment or low down payment requirements, conventional loans often require a down payment of at least 3% to 20% of the home's purchase price.

• Residency and Citizenship: You must be a legal resident of the United States or have a valid visa to qualify for a mortgage. Non-U.S. citizens may also be eligible for certain loan programs with appropriate documentation.

• Property Requirements: The property you're purchasing must meet certain standards set by the lender and any applicable government programs. These standards ensure the property's value and condition meet the lender's risk tolerance.

• Mortgage Insurance: Depending on the type of loan and down payment amount, you may be required to pay for mortgage insurance to protect the lender in case you default on the loan.

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• It's important to note that mortgage eligibility criteria can vary depending on the lender, loan program, and individual circumstances. Working with a mortgage lender or broker can help you understand your options and determine the best course of action based on your financial situation and homeownership goals.