Robert McLister·Mortgage Industry Reports·February 20, 2008First Time Home Buyer Survey Genworth released their First-Time Homebuyer's Monitor today. It had plenty of little info-nuggets. For example, according to the survey: The most common concern among first-time buyers is "high payments." The most common down payment for first-time buyers is 5.0%-9.9%. 68% of Canadians agree a home is the most important investment of their lives. Most Canadian first-time home buyers plan to spend between $100,000-$199,000. In Alberta and the Greater Toronto Area, the number is $200,000-$299,000. In British Columbia: $300,000-$399,000. About 60% of first-time buyers plan to use the Internet to get mortgage information, including the use of online mortgage calculators to see what monthly payment they can afford. 68% of first-timers prefer new homes to resale units. 52% of respondents prefer 5-year terms. 23% want terms of 7 or more years. 63% of first-time buyers prefer living in the suburbs instead of the city. The most popular mortgage-related reason for using the Internet is to "check interest rates." That's probably why rate questions are many broker's #1 type of email. Like news like this?Join our CMT Updates list and get the latest news as it happens. Unsubscribe anytime. SUBSCRIBE! Thank you for subscribing. One more step: Please confirm your subscription via the email sent to you.