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.