First-Time Buyers: Myths, Programs, and Financial Tips

Real Estate Training & Coaching School

The Myth: First-Time Buyers Are Priced Out of the Market

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While affordability challenges exist, many first-time homebuyers are still finding ways to enter the market. 32% of all home purchases in 2023 were made by first-time buyers, up from 26% in 2022. The myth that first-time buyers are priced out is dispelled by the numerous financial programs designed to reduce home purchasing costs.

Programs That Help First-Time Buyers

First-time buyers have access to a range of programs that help make homeownership more affordable:

• FHA Loans (Federal Housing Administration):
• Low down payments (as little as 3.5%).
• Lenient credit requirements for buyers with credit scores of 580 or above.

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