Another factor is whether you simply have a first mortgage or the added complications of a second.
Once they have repaid that, today's twentysomethings will have to save up a far larger deposit for their first mortgage to buy a house that costs many times their income.
With house prices dropping year-on-year, of those people buying a home with a mortgage in March some 40% were first-time buyers.
For most of 2009, the average person buying their first home with a mortgage put down a deposit of 25%, figures from the Council of Mortgage Lenders show.
The Residential Mortgage Banking segment directly originates primarily first lien residential mortgage loans on a nationwide basis with a significant presence within the retail banking footprint, and also originates loans through majority and minority owned affiliates.
Because, again, since no one knew which mortgage would default first, it was impossible to assign a specific mortgage to a specific bond.
Liberal Democrat AM Peter Black also called on the government to introduce a mortgage guarantee scheme for first time buyers.
However Mr Black welcomed an announcement on a mortgage guarantee scheme for first-time buyers, agreed with the Lib Dems as part of budget negotiations.
The first is a comparison of America's mortgage system with those of other countries.
That's made it particularly hard for potential first-time buyers to get a mortgage.
And peppered with talk of accelerating private infrastructure projects and making it easier for first-time buyers to get a mortgage.
Meanwhile, a type of mortgage that was popular among first-time buyers during the housing boom has withered further, following announcements made by lenders on Budget Day.
Use a first paycheck to explain taxes and apartment or house-hunting to explain the concept of a mortgage.
Nitesh Patel, housing economist at the Bank of Scotland, said first-time buyers failing to get a mortgage were affecting the statistics.
My oldest son was swept up in this as his first job out of college was as a mortgage consultant for Countrywide Funding.
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According to the Nationwide Building Society, mortgage payments in the first year of a loan are currently around 25% of take-home pay, half the average burden in the 1980s.
The main theme slowing sales - especially first time buyers - seemed to be difficulty getting a mortgage.
Iceland is getting closer to becoming the first nation to go bankrupt as a result of the subprime mortgage crisis and resulting squeeze on lending.
Over the last two years, the government has raised downpayment and mortgage requirements, imposed a property tax for the first time in Shanghai and Chongqing, increased construction of low-cost housing and enacted home-purchase restrictions in about 40 cities.
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He said before the credit crunch first time buyers had to find a deposit at 11% of their mortgage, but now that figure was 25%.
But, if you do think that you should have gotten the mortgage from that first lender and can afford to purchase a house, Cargile suggests going elsewhere.
Mortgage interest rates are still low, a great relief to first-time home buyers, real estate investors, and households considering refinancing their higher-rate loans initiated over the past few years.
Smart Money reports that the average rate on a 30-year fixed-rate mortgage dropped below 4% for the first time, to 3.94%.
The bulls will counter that, at the first sign of serious weakness, the Federal Reserve would engineer a collapse in mortgage-borrowing costs.
First, for people looking to get a traditional 30-year fixed rate mortgage, those rates aren't likely to move much in response to the Fed.
Bankinter, a retail bank, has responded to fury over home repossessions by introducing the first Spanish mortgage that can be walked away from, American-style, simply by handing over the keys.
They are finding property less and less affordable: 45% of first-time buyers today, according to Professor Miles, take out a mortgage that is more than three times their annual income, up from 10% in 1993.
Non-mortgage borrowing by individuals shrank for a third month in a row - the first time since records began in 1993.
But if inflation is low, at 2.5% a year, they pay less at first but lose out in the later years of the mortgage.
Recently, the Council of Mortgage Lenders (CML) said that mortgage lending had picked up last year, led by a big rise in first-time buyers.
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