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
The author of this article is: realtormag.realtor.org
See the original post at: http://realtormag.realtor.org/daily-news/2012/01/03/what-does-average-home-owner-pay-mortgage
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