LendingTree Reports US Average Down Payment Percentage Falls to 15.73% in Q3 2013

 LendingTree Reports US Average Down Payment Percentage Falls to 15.73% in Q3

PR Newswire

CHARLOTTE, N.C., Nov. 13, 2013

CHARLOTTE, N.C., Nov. 13, 2013 /PRNewswire/ --According to a report released
today by LendingTree, down payment percentages for 30-year fixed rate purchase
mortgages continue to decline while home prices continue to rise. The study
reveals that average down payments have dropped 2.74% since Q2 2013.

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"Lenders are putting more focus on purchase mortgages and are adjusting
minimum requirements to attract borrowers," said Doug Lebda, LendingTree
founder and CEO. "With home values improving, the risk of borrowers defaulting
on loans has decreased, giving lenders more confidence to lend with less cash
down from qualified borrowers."

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.  Nebraska      12.5%
2.  South Dakota  12.8%
3.  Arkansas      12.9%
4.  Alabama       12.9%
5.  Missouri      13.1%
6.  North Dakota  13.2%
7.  Ohio          13.4%
8.  Indiana       13.5%
9.  Tennessee     13.5%
10. West Virginia 13.7%

New Jersey (18.8%), California (18.6%), New York (18.0%), DC (17.9%) , and
Massachusetts (17.5%) top the list with the highest average down payment

Infographic link:

Data Chart:

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.

Megan Greuling
(704) 943-8208

SOURCE LendingTree

Website: http://www.lendingtree.com
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