Skip to main content

Downpayments on the Rise in Q2

NationalMortgageProfessional.com
Sep 12, 2014

According to a report released by LendingTree, down payment percentages for conventional 30-year fixed rate purchase mortgages increased in the second quarter to an average of 17.28 percent, up from 15.78 percent in Q1 2014. Additionally, the average down payment amount also increased, from $34,733 in Q1 2014to $37,576 in Q2. “We’ve seen an overall downward trend in down payments over the past 18 months, but appreciating home prices and pent-up demand has brought borrowers back into the housing market with more funds available for a down payment,” said Doug Lebda, founder and CEO of LendingTree. “Additionally, in certain markets, a competitive real estate environment may be forcing some homebuyers to put more money down in order to strengthen their offers. However, the slight uptick in down payments is a positive sign for the housing market as homeowners will realize lower monthly payments, quickly build equity, and reduce risk for lenders.”   An infographic released by LendingTree ranks each state according to the average downpayment percentages offered to LendingTree customers.
Published
Sep 12, 2014
Williston Financial Group, Doma Strike Deal

WFG is set to acquire Doma’s title operations, including operation centers in the Northern and Central California.

May 24, 2023
Mat Ishbia Takes A Charge At NBA Playoff Game

UWM CEO and majority owner of the Phoenix Suns involved in scuffle with Denver center Nikola Jokic

May 08, 2023
The Pitfalls Of Cash-Out Refinancing In A Rising Interest Rate Environment

Second-lien home equity loans are a far better way to take out cash

May 02, 2023
NEW YORK: How To Conquer - Not Fear - The Empire State

Roadblocks are many but payoff is worth it

May 01, 2023
RCN Capital Opens LA Office

Expansion marks lender's continued success.

Apr 26, 2023
Trigger Lead Legislation Renews Debate Over Consumer Choice

Borrowers can protect themselves from unsolicited lenders, but they could be doing themselves a disfavor

Apr 20, 2023