Reporter- Kansas City Business Journal

Home buyers are being required to put less skin the game, with Missouri and Kansas among states with the lowest average down payments, according to a new study.

LendingTree LLC, an online mortgage loan exchange, reports that the average U.S. down payment dropped in the third quarter to 15.74 percent from 16.1 percent in the second quarter.

Kansas had the fourth-lowest average down payment nationwide: 12.6 percent. Missouri rang in one rung higher with an average down payment of 13.2 percent. Nationwide, LendingTree reported, average home loan down payments have dropped 9.4 percent in two years.

Because of improving home values and subsiding risk of borrowers defaulting, “lenders are putting more focus on purchase mortgages and are adjusting minimum requirements to attract borrowers,” LendingTree CEO Doug Lebda said.