AgentIndustry News

Down payments aren’t holding back buyers, says LendingTree

As the market continues to recover, average down payments are on the rise, according to quarterly report
  • A new report released by online lender LendingTree shows that average down payments are rising as the market becomes more competitive.
  • During the third quarter, the average down payment for all purchase mortgages, including FHA, VA, non-prime and jumbo mortgages, was $49,127, or 15.41 percent.

Although many housing market watchdogs continue to show concern about the ability of potential homebuyers to save up enough money for a down payment, a new report released by online lender LendingTree shows that average down payments are rising as the market becomes more competitive. According to LendingTree’s quarterly down payment report, the average down payment percentages for conventional 30-year fixed-rate mortgages in the third quarter was 17.63 percent, or about $48,924, a slight increase over the second quarter’s average down payment of 17.34 percent, or about $44,204. The third-quarter average down payment also increased 16.29 percent compared to the same quarter of last year. During the third quarter, the average down payment for all purchase mortgages, including FHA, VA, non-prime and jumbo mortgages, was $49,127, or 15.41 percent. Specifically on FHA mortgages, the average down payment during Q3 was 7.99 percent, or $15,391, representing a slight increase fro...