In 2025, the median down payment for first-time homebuyers was 10% — the highest median since 1989, according to the National ...

First-time homebuyers are typically defined as those entering the market who’ve never owned a home. However, anyone who has not owned a home for the last three years also qualifies as a first-timer.

Many first-time homebuyers might presume they're better off going used rather than new—in other words, purchasing a pre-existing property rather than pricey new construction. While it's true that ...