SEATTLE NEWS ARCHIVES & FEATURES

Debt load: State’s 2011 homebuyers averaged $250,000

Jan 4, 2012, 8:52 AM | Updated: Mar 4, 2016, 5:56 am

The average Washington homeowner took on $249,625 in mortgage debt on a real estate purchase in 201...

The average Washington homeowner took on $249,625 in mortgage debt on a real estate purchase in 2011. (AP Photo)

(AP Photo)

The average Washington homeowner took on $249,625 in mortgage debt on a real estate purchase in 2011 – 12th highest in the nation – according to a recent study by LendingTree.com.

Hawaii homeowners tend to take on the most debt in their home purchases with an average home loan amount of $677,299. That means the average homeowner 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 $137,182 or $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.

The following are the top states (plus D.C.) with the highest loan amounts, including the average closed home loan for 2011, according to the survey:

  • 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

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