First-Time Homebuyer Mortgage Profile: 2019 (Spreadsheet)
For the second year in a row, first-time homebuyers accounted for just about half of the purchase loans sold to Fannie Mae, Freddie Mac and Ginnie Mae in 2019. And it’s estimated that almost 45 million people will turn 34, the median age of first-time buyers, over the next decade.
Not only are they a large group, but first-time buyers also represent a fairly secure lending niche: The average credit score on all first-timer loans sold to the agencies in 2019 was 711.15, 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 2018-2019 and quarterly for 1Q18-4Q19, 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 top 600 sellers; Spreadsheet format includes data for all 1,704 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 top 600 sellers; Spreadsheet format includes data for all 1,704 sellers.)