Report: Mississippi has lowest average home loan
by MBJ Staff
Published: January 13,2012
ACROSS MISSISSIPPI — LendingTree.com has released data highlighting the average loan amount on residential real estate purchases for all 50 states and Washington D.C. for the year.
Hawaii, by far, leads the nation with an average home loan amount of $677,299, followed by Washington, D.C., at $393,453, New Jersey at $344,240 and New York at $340,124.
The states with the lowest average home loan amounts are Mississippi at $137,182 and Nebraska at $137,515. The national average for a home loan is $222,261.
Additional findings from the LendingTree data include:
• California, the state with the highest population in the country, has the ninth highest average home loan amount ($310,676).
• The average buyer in Hawaii, based on the average loan of $677,299 and an APR of 4 percent, would have a monthly payment for a 30-year mortgage (1 point) of $3,234 before taxes and insurance. The average payment for Mississippi would be $655 based on the closed loan amount.
• The national average monthly payment for a 30-year mortgage at 4 percent would be $1,061
To sign up for Mississippi Business Daily Updates, click here.
Mississippi Economic Council
Mississippi Chambers of Commerce
Mississippi State Legislature
Mississippi Development Authority
Mississippi Economic Development Council
North Mississippi News
Social Security Disability Lawyer
Auto Accidents Lawyer
Top Posts & Pages
- Comstock quits Tuscaloosa play on falling prices
- Clinton office complex sold for $20.5 million
- Meadville mayor seeks Sojourner's Senate seat
- Entergy plans three solar-power pilot projects
- PHIL HARDWICK: Characteristics of a good year-end fundraising letter
- Shale oil: market correction or longterm direction?
- Record soybean yield is valued at $1.17 billion
- MARTIN WILLOUGHBY: Gary Herring building tomorrow by educating today
- Miss. surgeon sentenced in tax evasion case