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Home Loan Lenders Loosen Down Payment Requirements


Source: Realtor.org

Lenders’ tight underwriting standards have been blamed for sidelining many potential home buyers the last few years. But lenders may be showing signs of loosening up a bit. The average down payment on a 30-year, fixed-rate mortgage fell 2.74 percent from the second quarter to 15.73 percent of the home’s value in the third quarter, according to a new report from LendingTree. According to LendingTree, the states with the highest home values are also where down payments remain the highest percentages of the property price. home loan lender loosen requirements

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