The characteristics of the first-time buyer differ from those of the market as a whole. Based on data from the January to June 2013 REALTORS® Confidence Index surveys, 91percent of first-time buyers purchased their home using a mortgage. The median FICO score for first -time buyers was 720. In comparison, the 60 percent of repeat buyers using a mortgage had FICO scores of 750.
The First-Time Buyer: Characteristics
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