First-Time Homebuyer Mortgage Profile: 2018 (PDF)
First-time homebuyers account for a growing share of home purchases — despite obstacles like high prices and limited supply, more than 2 million homes were purchased by FTHBs in 2017. And in 2018, this group’s 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. It’s 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
- An underwriting comparison of first-time homebuyers and repeat buyers. Presented annually for 2017-2018 and quarterly for 1Q17-4Q18, you’ll have volume and average loan size, FICO score and loan-to-value ratio for FTHB and repeat buyers. You’ll 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 seller’s 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 — plus average loan size, FICO score and LTV ratio — 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.)