LendingTree Borrower Health Report: US Borrowers are Improving Financial Health PR Newswire CHARLOTTE, N.C., Aug. 21, 2013 CHARLOTTE, N.C., Aug. 21, 2013 /PRNewswire/ -- LendingTree, the nation's leading online source for competitive loan offers, has developed a report to analyze the financial health of prospective borrowers, ranking each state according to borrower health. The borrower health score is based on a 100-point scale and is calculated by using a weighted average of credit score, loan-to-value ratio [LTV] and overall lendability of mortgage-seekers in each state for the second quarter of 2013. (Photo: http://photos.prnewswire.com/prnh/20130821/CL67458-INFO) (Logo: http://photos.prnewswire.com/prnh/20110518/MM04455LOGO) Washington, D.C., New Jersey, Hawaii, Massachusetts and California lead the nation with the healthiest prospective borrowers, all with scores above 90. The average LTV ratios and credit scores for the top five states are below. State LTV Ratio Avg. Credit Score DC 85.30% 689 NJ 83.90% 679 HI 87.70% 677 MA 85.60% 676 CA 85.60% 679 "It is encouraging to see a shift towards more responsible borrowing. Higher credit scores and improved LTVs are a sign that borrowers are working to improve their financial health," said Doug Lebda, LendingTree founder and CEO. "As the housing market bounces back, credit is becoming more accessible, making it easier for consumers to qualify for mortgages. But consumers still need to monitor their credit scores and understand their financial situations when looking to purchase a home in order to qualify for the lowest rates and maintain long-term financial health." Since last year, prospective borrowers have increased average credit scores by more than 10 points and have reduced average loan-to-value ratios by 1.6 percent, improving the likelihood of qualifying for a home loan. Between Q1 2013 to Q2 2013, average credit scores for prospective borrowers increased in 41 states and average loan-to value ratios for prospective borrowers declined in 43 states. For a full ranking and the infograph in PDF versions, please visit the following links: Infographic: http://marketing.lendingtree.com/pr/info_graphic_BorrowerHealth_8_13-1.pdf Data ranking: http://marketing.lendingtree.com/pr/Borrower_Health_Report_Q2_2013_For_Site.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, LLC Website: http://www.lendingtree.com
LendingTree Borrower Health Report: US Borrowers are Improving Financial Health
Press spacebar to pause and continue. Press esc to stop.