LendingTree Ranks States According to Average Down Payment Percentages

    LendingTree Ranks States According to Average Down Payment Percentages

Down Payment Amounts Decrease, Rates Rise as Housing Market Recovers

PR Newswire

CHARLOTTE, N.C., June 3, 2013

CHARLOTTE, N.C., June 3, 2013 /PRNewswire/ --According to a recent report
released today by LendingTree, down payment percentages for 30-year fixed rate
purchase mortgages are declining, just as home prices and mortgage rates
begin to increase. The study reveals that average down payments have dropped
9.4% since May 2011.

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"As the housing market begins to improve, lenders are beginning to loosen
their guidelines to more normalized standards and approve loans with lower
down payments," said Doug Lebda, LendingTree founder and CEO. "Although a good
credit score is still important to have, borrowers may have an easier time
qualifying for loans after years of tight guidelines, especially as home
prices rise and we see fewer homeowners underwater." 

An infographic released by LendingTree ranks each state according to the
average down payment percentages offered to LendingTree customers. The top
ten states with the lowest average down payment percentage for a 30-year fixed
rate conventional loan are:

1.  Mississippi      11.9%
2.  West Virginia      12.0%
3.  Alabama     12.4%
4.  Kansas    12.7%
5.  Missouri   13.2%
6.  South Dakota       13.4%
7.  Indiana  13.6%
8.  Tennessee      13.6%
9.  Idaho 13.6%
10. Wisconsin    13.7%

New Jersey, California, New York, Massachusetts, and Hawaii have the highest
average down payment percentages.

Infographic link:
http://marketing.lendingtree.com/pr/average_down_payment.pdf

Data Chart:
http://marketing.lendingtree.com/pr/Average%20Down%20Payment%20May%20Data%202013.pdf

About LendingTree, LLC
LendingTree, LLC is the nation's leading online source for competitive home
loan offers, empowering consumers during the mortgage, refinance or auto loan
process. LendingTree provides an online marketplace which connects consumers
with multiple lenders that compete for their business, as well as an array of
online tools and information to help consumers find the best loan. Since
inception, LendingTree has facilitated more than 30 million loan requests and
$214 billion in closed loan transactions. LendingTree provides access to
lenders offering mortgages and refinance loans, home equity loans/lines of
credit, and more. LendingTree, LLC is a subsidiary of Tree.com, Inc. (NASDAQ:
TREE). For more information go to www.lendingtree.com, dial 800-555-TREE, join
our Facebook page and/or follow us on Twitter @LendingTree.

MEDIA CONTACT:
Megan Greuling
(704) 943-8208
Megan.Greuling@tree.com

SOURCE LendingTree

Website: http://www.lendingtree.com
 
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