First time home buyer privilege, but on inherited property

[Lavern White]

My grandfather and then my mom put my sister and my name on the deed to my grandfather's home.  However, I want to purchase my own home.  Will my name being on the deed of this inheritance cause me to miss out on using a first-time owners mortgage opportunity?  I don't want to lose my inheritance, but I want to buy my own home.  What is out there for people in my situation if I can't use first-time home privileges?