For all of New Jersey’s fiscal issues, the state’s residents once again rank first when it comes to financial acuity. New Jerseyans put an average 18.8 percent downpayment on mortgages, according to a study by Lendingtree.com, an online mortgage marketplace.
On average, according to the study, mortgage downpayments are lower while home prices are up. Nationally, the average downpayment is 15.73 percent on a mortgage of $218,343. In New Jersey, the average mortgage is $246,158.
California, New York, Washington, D.C., and Massachusetts ranked second through fifth when it comes to the percentage of downpayments. Nebraska, South Dakota, Arizona, Alabama, and Missouri had the lowest — 12.5 percent through 13.12 percent.