First-Time Homebuyer Facts
Some Facts About First Time Homebuyers:
- 74% of renters want to buy a home but are afraid they won’t qualify so they don’t even try!
- 85% of non-home owners aspire to own a home in the next two years
- 24% of first-time homebuyers used a gift as part or all of their down payment
- 54% of first-time homebuyers are married, while 47% are unmarried
- 18% of first-time homebuyers are single female, while only 9% are single males
- 20% of Young Millennials buy a home together before getting married
- 31% of buyers in 2021 were first-time homebuyers
- 2020 saw the most first-time homebuyers in history – 2.38 million, to be exact
- The average age of the first-time homebuyer is 34
- 53% of buyers say outdoor living space is a top priority
- At 37%, according to NAR’s 2021 home buyer generational report, Millennials are the largest segment not only of home buyers, but are also mostly first-time buyers
Ready Become a Home Owner?
Inlanta Mortgage offers a number of loan programs for first time home buyers including no down payment USDA and VA loans, low down payment loans (HomePossible® & MyCommunityMortgage®), as well as jumbo and renovation loan options. Consultations and applications are free! Find a licensed Inlanta Mortgage professional near you using our branch locator or simply click here to apply online and we will forward your application to a loan officer near you.