Newrez Data Shows First-Time Buyers Account for Nearly Half of Purchase Mortgages as Homeownership Remains Part of the American Dream

• As America celebrates its 250^th anniversary, 81% of U.S. adults say owning a home is still part of the American Dream.
• First-time homebuyers made up 49% of Newrez new purchase loans in 2025, with the median first-time buyer age holding steady at 33.
• Repeat buyers represented just over half of Newrez purchase originations in 2025 and purchased more expensive homes, with a median purchase price of $482,000.

FORT WASHINGTON, Pa.--(BUSINESS WIRE)--As the United States celebrates its 250^th anniversary, homeownership remains part of the American Dream—even as the path to achieving it evolves—according to new data from Newrez, a leading homeownership company.

Newrez, a top 5 mortgage originator, today released new findings from its mortgage originations data showing that first-time homebuyers accounted for 49% of its new purchase loans in 2025, underscoring the continued presence of first-time buyers in today’s market.

This comes at a time when 81% of U.S. adults say owning a home is still part of the American Dream, reflecting the enduring importance of homeownership to millions of Americans, according to a separate survey commissioned by Newrez last month.

View the full report here.

“As the country marks its 250^th 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. “At Newrez, our mission is to do everything possible to make home happen, and that starts with helping consumers better understand the market they’re navigating—because even in a higher-cost environment, first-time homebuyers are still finding ways to achieve their goal of owning a home.”

2025 First-Time Homebuyers

First-time homebuyers continue to represent a meaningful share of Newrez mortgage borrowers, accounting for nearly half of Newrez purchase loans in 2025, down from 56% in 2022. The median age of first-time buyers remained steady at 33, and these borrowers are more likely to use lower down payment options, with a median down payment of 4.85% of the purchase price.

First-time buyers also purchased lower-priced homes than repeat borrowers, with a median price of $345,741—up 10% from 2022. Median borrower income for this cohort increased from $61,728 to $77,208 over the same period.

“First-time buyers continue to represent a significant portion of our business, which speaks to the resilience of homeownership demand,” added Johnson. “While affordability remains a challenge, these buyers are finding practical ways to enter the market and achieve homeownership, showing that the path is still there for those looking to buy.”

2025 Repeat Homebuyers

Repeat homebuyers who took out mortgages with Newrez purchased more expensive homes in 2025 than in 2022, with the median purchase price rising 11% from $432,620 to $482,000. The median down payment declined slightly from 15% to 14.82% of the purchase price, while median borrower income increased 26% from $87,526 to $110,139. Median borrower age also increased from 42 to 44 years old.

Methodology

Newrez analyzed purchase loans from its originations portfolio funded between 2022 and 2025. First-time homebuyers are defined consistent with Federal Housing Finance Agency (FHFA) guidelines as borrowers purchasing a principal residence who have not held an ownership interest (sole or joint) in a residential property in the three years prior to purchase. Median borrower income reflects the income used in qualification and may not include income from all borrowers or household members.

The “American Dream” statistic is based on an online survey of 2,203 U.S. adults conducted June 12–14, 2026, by Morning Consult on behalf of Newrez. The sample is representative of the U.S. general population and not limited to Newrez customers. Results for the full sample have a margin of error of ±2 percentage points.

For the full methodology and findings, please visit: https://www.newrez.com/blog/industry-insights/homeownership-on-america-250.

About Newrez

Newrez LLC (“Newrez”), a Rithm Capital Corp. (NYSE:RITM) company, is a top five mortgage lender and servicer, according to Inside Mortgage Finance, dedicated to providing a customer-first experience throughout the homeownership journey. Newrez offers industry-leading servicing capabilities, delivering for homeowner customers from the Newrez portfolio and those of its third-party customers, as well as a robust origination model with presence in the retail, wholesale, correspondent, and consumer direct verticals. Newrez's mission is “to do everything possible to make home happen” through a wide array of products and services. Newrez was established in 2008 and is headquartered in Fort Washington, PA. To learn more about Newrez, visit www.newrez.com.