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

Here are the best lenders that offer loan options for first-time homebuyers in May 2025. Benefit from low down payments, grants, and flexible credit requirements.

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.