What Does the Average Home Owner Pay on a Mortgage
Daily Real Estate News | Tuesday, January 03, 2012
Hawaii home owners tend to take on the most debt in their home purchases with an average home loan amount of $677,299, according to a recent study by LendingTree.com, which revealed the average loan amounts on residential real estate purchases in 2011. That means the average home owner in Hawaii would have a monthly payment of about $3,234 for a 30-year mortgage, before taxes and insurance, according to LendingTree data.
Meanwhile, in Mississippi, home owners take on the lowest loan amounts at $137,182or $655 monthly mortgage payments, on average.
The national average for a home loan is $222,261 with a $1,061 average monthly payment for a 30-year mortgage at 4 percent, according to LendingTree.
The following are the top states with the highest loan amounts, including the average closed home loan for 2011, according to LendingTree:
Source: LendingTree LLC
Doug Spiers / Principal Broker
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