Tag Archives: First-Time Mortgage Buyers

Realtor.com ranked top markets to find which are great for first timers on a wide variety of metrics.

The risk profile for first-time buyers suggests that access to mortgage credit is not as tight as some have suggested, according to AEI. In May, first-time buyers with an agency mortgage averaged a downpayment of about 3 percent, or $7,000, and a median FICO score of 706, which is below the median score of 713 for all mortgage buyers in the United States. The median FICO score for first-time buyers with FHA-backed loans drops to 673.