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2012-01-04 08:12:48
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: 

  • Hawaii: $667,299.33
  • Washington, D.C.: $393,453
  • New Jersey: $344,240.85
  • New York: $340,124.50
  • Maryland: $328,650.89
  • Connecticut: $326,416.85
  • Virginia: $312,930.83
  • California: $310,676.35
  • Utah: $276,211.67

See all 50 states and their ranking.

Source: LendingTree LLC

Provided by,

Doug Spiers / Principal Broker 

Elite Choice Real Estate
1436 South Legend Hills Drive Suite 311
Clearfield, Utah 84015

Direct (801) 726-7173

Email: DougSpiers@aol.com 

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