First-Time Homebuyer Mortgage Profile: 2018

First-time homebuyers account for a growing share of home purchases ó despite obstacles like high prices and limited supply, more than 2 million homes were purchased by FTHBs in 2017. And in 2018, this groupís share of total purchase mortgages rose to 50.2%.

Although markedly different from existing homeowners in underwriting terms, first-time buyers represent a large and fairly secure lending niche. Itís estimated that more than 100 million adults in the U.S. are currently renting and could be first-time homebuyers. And FHFA research has shown that, after underwriting differences are taken into consideration, first-time buyers are no more likely to default than repeat buyers. Plus, they are less likely to prepay.

Dig into data on the first-time homebuyer market in Inside Mortgage Finance's First-Time Homebuyer Mortgage Profile. This report uses agency data to present

First-Time Homebuyer Mortgage Profile

  • An underwriting comparison of first-time homebuyers and repeat buyers.†Presented annually for 2017-2018 and quarterly for 1Q17-4Q18, youíll have volume and average loan size, FICO score and loan-to-value ratio for FTHB and repeat buyers. Youíll also have these statistics by agency (GSE, FHA and VA).
  • A channel analysis for first-time buyers.†By channel (retail, correspondent and broker), see how volume and underwriting characteristics differ by time period and agency.
  • A list of top agency sellers of first-time homebuyer loans.†Provides total first-time homebuyer volume; volume by agency; first-time share of sellerís total purchase volume; and quarterly and annual change in FTHB volume. (Print/PDF formats include data for the 609 sellers who had more than $10 million in first-time homebuyer sales volume during 2018; Spreadsheet format includes data for all 1,697 sellers.)
  • Lender-by-lender channel breakdown. Details for each lender on sales volume ó plus average loan size, FICO score and LTV ratio ó broken down by channel (retail, correspondent, broker). (Print/PDF formats include data for the 609 lenders who had more than $10 million in first-time homebuyer sales volume during 2018; Spreadsheet format includes data for all 1,697 lenders.)

Understand this crucial market niche and how it can benefit your originations pipeline.†

PDF Format - $479.00
Print Edition - $479.00
Print Edition with Shipping Outside of U.S. - $529.00
Spreadsheet Format - $1,279.00

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Poll

Do mortgage lenders really need a new credit-scoring model or is the current FICO system adequate?

It’s fine. Stick with what works.

53%

Time for a change. Borrowers are different today.

35%

Undecided, still assessing the situation.

12%