First-Time Home Buyer Market Share in Agency Originations

This chart clearly segments the 2025 year-to-date Agency purchase market. First-Time Home Buyers (FTHBs) are the market, accounting for 60% of all 30-year fixed-rate purchase originations.

Implications for Decision-Makers

• For Lenders. This 60/40 split is a vital strategic input. It signals that marketing, product development, and underwriting processes should be heavily weighted toward the FTHB experience. This segment requires specialized expertise in down payment assistance (DPA) programs, FHA/VA/HFA products, and a "high-touch" educational approach from origination teams. Lenders whose strategies are overly reliant on repeat buyers are missing the largest component of today's purchase demand.
• For Servicers. A portfolio onboarding a 60% FTHB mix has a different risk and operational profile. FTHBs typically have less equity, lower credit scores, and minimal experience with mortgage payments. Servicers must anticipate higher call volumes and a greater need for customer education on topics like escrow analysis and loss mitigation options. Proactive, educational outreach in the first 12 months can be a key strategy to manage delinquency risk in this cohort.
• For Investors & Policy. The data confirms that the 30-year fixed-rate mortgage, delivered through the Agency channel, remains the primary vehicle for new household formation in America.

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