Women In Housing-2015

TheMReport — News and strategies for the evolving mortgage marketplace.

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Th e M Rep o RT | 59 O r i g i nat i O n s e r v i c i n g a na ly t i c s s e c O n da r y m a r k e t ANALYTICS around the u.s. ANALYTICS Source: LendingTree State Down Payment Percentage (From Lowest to Highest) Kentucky 14.02% Alabama 14.26% West Virginia 14.53% North Dakota 14.68% New Mexico 14.82% Arizona 14.95% Ohio 15.08% Mississippi 15.12% Missouri 15.15% Indiana 15.15% South Dakota 15.23% New Hampshire 15.28% Nebraska 15.39% Oklahoma 15.44% South Carolina 15.47% Iowa 15.48% Vermont 15.68% Tennessee 15.75% Kansas 15.90% Minnesota 15.93% North Carolina 15.94% Georgia 16.02% Michigan 16.04% Nevada 16.04% Wisconsin 16.07% Utah 16.07% Louisiana 16.08% Arizona 16.14% Montana 16.33% Virginia 16.38% Washington 16.44% Maryland 16.47% Colorado 16.54% Alaska 16.56% Wyoming 16.65% Oregon 16.65% Texas 16.66% Pennsylvania 16.74% Delaware 16.80% Idaho 16.83% Florida 17.28% Illinois 17.32% Maine 17.44% Rhode Island 17.47% Massachusetts 18.31% Connecticut 18.63% New Jersey 18.96% District of Columbia 19.03% California 19.58% New York 20.02% Hawaii 20.36% report shows kentucky Has lowest down Payment; Hawaii Has the Highest a ccording to a new LendingTree Report, there could not be a better time to purchase a home, as lenders are loosening mortgage guidelines and the average down payment decreases. LendingTree determined that down payments dropped from 17.59 percent in Q 4 2014 to an average of 16.98 percent for Q1 2015. The report also noted that the average down payment amount also decreased from $47,585 to $44,007 during the same time frame. Kentucky had the lowest down payment percentage at 14.02 percent with an average down payment amount of $33,391.04. Meanwhile, Hawaii's down payment percentage was 20.36, with an average down payment amount of $59,029.82. "As lenders need more mortgage volume, average down payments start to drop," said Doug Lebda, founder and CEO of LendingTree. "More lenders are beginning to loosen their guidelines and are going after a slightly broader pool of potential borrowers. For first time homebuyers, this spring and summer homebuying season is proving itself to be an excellent time to enter the market."

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