Would I qualify as a 1st time homebuyer for early IRA distribution?

[thefed]

I am considering paying off my mortgage a bit early, and to do so, would need to withdraw money from my traditional IRA...about 20k.

I have owned the home for 8 years....but since I am paying off my 1st home (which is essentially PURCHASING the home...as right now I have a morgage), would I qualify to not pay the 10% penalty on the 1st 10k of that withdrawal?

 

[jimnjana]

No, you don't qualify.

First-Time Homebuyer

 

[thefed]

well that's bologna