Gershman Mortgage Bucks First-Time Home Buyer Trends in ’24 and ’25

According to an article recently published in the Wall Street Journal (First-Time Home Buyers Are MIA. Landlords Are the Winners.), experts are seeing a steep decline in the number of renters making the leap to homeownership. Several factors, including high interest rates and rising home prices, are causing many would-be purchasers to pump the brakes.

“There were 1.1 million first-time home buyers last year – 380,000 fewer than in 2023 and almost half the historical norm, data from the National Association of Realtors show.”

While this may be true for large, impersonal mortgage lenders, at Gershman Mortgage, we’re seeing quite the opposite.

In 2022, 50% of our loans were closed for first-time home buyers. In 2023, that number was 48%. But in 2024 it increased to 52%, and so far in 2025 that number is 57%.

What Makes Gershman Mortgage Different?

Gershman Mortgage is a family-owned business that has been around for seven decades, and we’re proud to say our commitment to stellar, personal customer service has never wavered. We put our borrowers’ best interests first, and that’s one big reason why we haven’t seen a decline in first-time home buyer purchases: they trust us.
New buyers feel comfortable with us because we’re members of the same community, oftentimes just a short drive down the road. We’re happy to answer any questions, suggest loan programs, and be a real support system throughout the homebuying process. From pre-approval to the closing table. We’re made up of real humans, whose names our borrowers know, and whose faces they’ve seen.

How Can Gershman Mortgage Help You Become a First-Time Home Buyer?

Are you currently renting an apartment or house and ready to purchase a place to call your own? Don’t let the national statistics and trends from giant mortgage lenders deter you. Reach out to a Gershman Mortgage loan officer, and let them walk you through the journey of becoming a buyer and explain why it’s the best move for you.

Will A First-Time Home Buyer Loan Make it Easier for Me to Buy a House?

First-time home buyer programs offer many benefits for future homeowners:

– Low or no down payment options available
– Flexible credit score requirements
– Down payment assistance
– Military programs available
– State bond loan options

Do I Qualify for a First-Time Home Buyer Loan?

Even if you’ve owned a home in the past, you may still be eligible for special loan assistance programs available for first-time home purchasers. Talk with a loan officer about if you can qualify for one of these loan programs.

What are Down Payment Assistance Programs (DPAs)?

First-time home buyers can take advantage of down payment assistance programs (DPAs) to help with upfront costs, including down payment and closing costs. Some programs may offer low or no down payment options. Each program has its own eligibility requirements, so check with a Gershman loan officer to find the best option for you.

Do I Still Qualify If I Meet the First-Time Home Buyer Qualifications, But My Partner Doesn’t?

You may still be eligible for first-time home buyer loan assistance programs, even if your partner is not a first-time buyer. Our loan officers can help assess your eligibility for these programs.

Reach Out to Gershman Mortgage and Start Your Homeownership Journey on the Right Track

When other lenders hit pause, Gershman hits record highs. It’s not luck, either. It’s local expertise, genuine care, and a team that treats people like people. If you’re ready for a mortgage experience that actually feels good, you know who to call.

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About Gershman: Communities, families, and homes are at the heart of what we do at Gershman Mortgage. Our founding principles are based on the core values of honesty, integrity, the entrepreneurial spirit, and putting our customers first. We are passionate and committed to customer service and strive to ensure that we exceed the expectations of our customers. We are a customer-centric company devoted to creating and maintaining long-lasting relationships.

NMLS #138063 16253 Swingley Ridge Road Suite 200 Chesterfield, MO 63017 (800) 457-2357 Equal Housing Lender. Serving borrowers in: Alabama, Arkansas, Colorado, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Mississippi, Missouri, Nebraska, North Carolina, North Dakota, Ohio, Oklahoma, South Carolina, Tennessee, Texas, Wisconsin

Written by Alli Wideman 07/10/2025 for Gershman Mortgage