If married, and only one spouse is a qualified first-time homebuyer, can the mortgage be in that person's name only to allow the 10% early IRA penalty to be waved?

[kakegley]

Regarding the recent reply: What I can't understand is that there is one spouse whoa qualified first time home buyer and who is buying the house in their name only, who qualifies for the mortgage which is based on that one person's income and responsibility and seems like only one person is the only buyer who needs to be qualfied.  And  why would the IRS talk about a spouse giving money out of that person's IRA to another spouse if they are both considered the buyers?  (No need to give to another when it's for both their purchase as apposed to just the qualified buyer spouse?)

[SweetieJean]

The mortgage is irrelevant.

[dmertz · Accepted solution]

The tax code explicitly states that for either spouse to qualify as first-time homebuyer, both spouses must be able to qualify as first-time homebuyers.  See section 72(t)(8)(D)(i)(I):  https://www.law.cornell.edu/uscode/text/26/72

[SweetieJean]

http://www.nolo.com/legal-encyclopedia/using-ira-make-house-down-payment.html