After five years of owning a Roth IRA, a person can withdraw money to buy their first home without facing:

When it comes to withdrawing money from a Roth IRA for the purpose of purchasing a first home, a key advantage is that individuals can access their contributions and earnings, tax-free and penalty-free, after meeting certain conditions. One of these conditions is that the account must be open for at least five years. Therefore, the correct answer relates to the fact that once these conditions are met, the individual is not subject to a tax and penalty fee on the amount withdrawn for their first home purchase.

The option about a specific income limit is not relevant to the ability to withdraw funds from a Roth IRA. While there are income thresholds that can affect one's ability to contribute to a Roth IRA, they do not impose restrictions on withdrawals. Similarly, there are no age restrictions on Roth IRA withdrawals, unlike traditional IRAs, where penalties can apply for distributions made before the age of 59½. Finally, while there may be general contribution limits for Roth IRAs, there isn't a specific limit on how much you can withdraw for the purpose of buying a first home once the five-year condition has been satisfied.