Newrez originations data shows first-time buyers are still finding a way into the market
First-time homebuyers accounted for 49% of all new purchase loans originated by Newrez in 2025, according to originations data released this week by the lender.
The data lands alongside a separate Morning Consult survey of 2,203 US adults, commissioned by Newrez and conducted June 12–14, which found that 81% of Americans still regard owning a home as part of the American Dream.
"As the country marks its 250th anniversary, homeownership remains a key part of the American Dream, but the journey looks different for today's buyers," said Bob Johnson, head of originations at Newrez.
"Even in a higher-cost environment, first-time homebuyers are still finding ways to achieve their goal of owning a home."
Kimber White, President of the National Association of Mortgage Brokers (NAMB), underscores how recent reforms are expanding affordability and opening new opportunities for mortgage brokers and aspiring homeowners.https://t.co/b1nTOZRyt7
— Mortgage Professional America Magazine (@MPAMagazineUS) June 30, 2026
First-time buyers: younger, leaner, and still in the market
The 49% share represents a decline from 56% in 2022, per Newrez data, but the median age of first-time buyers held steady at 33. That's consistent with Federal Housing Finance Agency (FHFA) definitions and at odds with widely circulated National Association of Realtors figures that placed the median age of first-time buyers at 40.
Down payment data show buyers continuing to stretch. The median down payment for first-timers was 4.85% of the purchase price, with a median purchase price of $345,741, up 10% from 2022.
Median borrower income for the cohort rose from $61,728 to $77,208 over the same period, according to Newrez.
Mortgage professionals working with entry-level buyers say adapting expectations has become essential.
"Buyers, especially first-time homebuyers, have to be a little bit more flexible," Matt Gouge, mortgage broker and founding partner at UMortgage, told Mortgage Professional America earlier this year.
"They have to start thinking about housing, especially their first house, as a stepping stone, not a forever home."
Repeat buyers move up at a price
Repeat homebuyers who financed through Newrez in 2025 purchased significantly more expensive homes, with a median purchase price of $482,000, up 11% from $432,620 in 2022.
Median borrower income for this cohort rose 26%, from $87,526 to $110,139, while the median down payment edged down slightly from 15% to 14.82%.
The median age of repeat buyers increased from 42 to 44.
The widening gap between what first-time and repeat buyers can afford points to a deepening bifurcation in the purchase market.
Brokers who serve both segments are navigating a dual reality: a repeat buyer cohort with growing equity and income and a first-time segment that remains eager but financially constrained.
Michael Brennan, president of Nationwide Mortgage Bankers, has previously argued to MPA that why first-time homebuyers need mortgage brokers more than ever comes down to early engagement: guiding buyers through budget realities before they fall in love with a home they cannot afford.
Newrez analyzed purchase loans from its originations portfolio funded between 2022 and 2025. First-time buyers are defined per FHFA guidelines as borrowers purchasing a principal residence who have not held an ownership interest in residential property during the three prior years.
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