Home Buyers' Down Payment Rate Hits 17.28 Percent; Less in West Virginia, More in Hawaii
Tacoma News Tribune (WA) (09/11/14) Roberts, C.R.

Online mortgage firm Lending Tree reports that the lowest down payments in the country last month were in West Virginia, where they averaged 14.42 percent on a 30-year fixed loan. Home buyer contributions also were on the lower end in Arkansas, Nebraska, Mississippi and South Dakota. At the other end of the spectrum, borrowers in Hawaii put down an average 20.79 percent on a home purchase. Other states with high down payments included New Jersey, New York, California and Connecticut. "Borrowers have more substantial funds, likely due to months, or years, of waiting for an appreciating house market to jump in or back into homeownership," Lending Tree noted. "Additionally, certain markets have a competitive real estate environment, which could be forcing home buyers to put more money down for a stronger offer."