Down Payment Amounts Rise as Housing Market Strengthens
"The fourth quarter marked another period of housing market improvement, where home values continued to rise for most markets," said
The average down payment on an FHA mortgage in the second quarter was 8.12 percent, or
Infographics for complete report rankings may be found on the
Rank |
State |
Quarterly Rank +/- |
Down Payment % |
Offered - Loan |
Offered - Down |
1 |
WV |
2 |
13.57% |
|
|
2 |
MS |
-1 |
14.57% |
|
|
3 |
KY |
2 |
14.74% |
|
|
4 |
AR |
9 |
14.80% |
|
|
5 |
LA |
17 |
15.29% |
|
|
6 |
AL |
-4 |
15.40% |
|
|
7 |
IA |
-3 |
15.43% |
|
|
8 |
TN |
13 |
15.62% |
|
|
9 |
MN |
21 |
15.64% |
|
|
10 |
MO |
4 |
15.76% |
|
|
The ten states with the highest down payment percentage for a 30-year fixed rate conventional loan offers are:
Rank |
State |
Quarterly |
Down |
Offered - Loan |
Offered - Down |
42 |
VT |
3 |
17.98% |
|
|
43 |
MT |
-5 |
18.00% |
|
|
44 |
MA |
-4 |
18.18% |
|
|
45 |
CO |
-6 |
18.57% |
|
|
46 |
HI |
0 |
18.96% |
|
|
47 |
CT |
4 |
19.28% |
|
|
48 |
AK |
-1 |
19.69% |
|
|
49 |
NY |
1 |
19.98% |
|
|
50 |
CA |
-1 |
20.20% |
|
|
51 |
NJ |
-3 |
20.46% |
|
|
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SOURCE
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