Tag Archives: First-Time Homebuyers

First-time homebuyers, including millennials, are slowly but surely making their way into the housing market and lenders need to be prepared to grab their attention and keep it.

First-time homebuyers have more problems to face than just dwindling supply and higher demand: Income requirements for mortgage lending are also on the rise.

First-time homebuyers in need of financing methods are losing out on homes that are being swiped from them by cash investors.

Currently, Fannie Mae and Freddie Mac consider only the FICO scoring model when making mortgage purchase decisions. How much of a difference would it make to the industry if they considered an alternative credit scoring model?

First-time buyer mortgages with a government guarantee were at a much higher risk of default than those taken out by repeat buyers. What factors are behind the disparity?

The federal government's policies have been largely focused on traditional homeownership. But has it been effective?

The Federal Open Market Committee (FOMC) will convene next week for the last time this year and is expected to sweep the industry with a change to the federal funds rate, something that has not been done since June 2006. ...

Most renters are putting about 30 percent of their monthly income toward their rental payment, which makes saving for a 10 or 20 percent down payment difficult. This conflict forces first-time buyers and millennials to pursue other options when looking to purchase a home, such as help from family or friends.

Also according to AEI's July report, 71 percent of Agency purchase loans had down payments of 5 percent or less, and 25 percent of them had DTI ratios greater than the QM limit of 43 percent. The median FICO score for first-time buyers was 709, a bit below the median for all individuals in the United States.

Total existing-home sales rose 2.0 percent to a seasonally adjusted annual rate of 5.59 million in July from a downwardly-revised 5.48 million in June.