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.