Ask The Taxgirl: Co-signers & First Time Homebuyer's Credit

Taxpayer asks:

I bought my first house in April. I asked my dad to co-sign on the mortgage for me because my credit was not strong enough for a good interest rate. Can I claim the first time homebuyer’s credit?

Taxgirl says:

Yes, you can, so long as you otherwise qualify. From the facts, I’m assuming that this is your first home and that it will be your primary residence. I’m also assuming that your dad doesn’t intend to try and claim the credit since he doesn’t have any ownership interest in the home. If all of that is true, you’re good to go. Enjoy your new house.