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US » Indiana

Key Questions:

    1. How at risk is Indiana to the subprime mortgage crisis?
    1. Loans taken out by home owners in Indiana are within a +/- 10 percent band of the national average. That is to say, Indiana will likely be affected by the subprime mortgage crisis just like the average county in the US.
    2. How stretched will home owners in Indiana be in paying off their mortgage?
    1. Homeowners in Indiana borrowed an average of 1.47 times their annual income for their mortgage. This compares to 1.83 for all of the US. Based on the national average, there will be a normal risk that Indiana homeowners will default on their mortgage payments in the coming years.
    3. Who are the leading lenders in Indiana?
    1. The leading lenders, by market share, are Countrywide Home Loans, Beneficial Company Llc and National City Bank. Do you have the best rate possible? Get quotes from mortgage lenders.
    4. How likely are the owners of homes in Indiana to actually live in them?
    1. 90.3% of home owners in Indiana that applied for a mortgage in 2006 live in their homes versus owning them as an investment property. This compares to the national average of 89.0%.
2006 Mortgage Research Indiana US
Total Applications 589,820 33,304,682
Average Loan $104.7k $184.9k
Loan to Income Ratio 1.47 1.83
Subprime Loans 12.30% 11.98%
Refinancing Loans 50.25% 50.05%
Principal Dwellings 90.31% 88.97%
Rejected Applications 14.20% 12.36%
Top Ten Lenders
# Name Share Apps
1 Countrywide Home Loans 6.38% 37,608
2 Beneficial Company Llc 3.40% 20,038
3 National City Bank 3.37% 19,871
4 Jpmorgan Chase Bank 3.24% 19,110
5 Wells Fargo Bank, Na 3.11% 18,320
6 Ameriquest Mortgage Company 2.57% 15,140
7 Gmac Mortgage Llc 2.34% 13,795
8 Accredited Home Lenders, Inc 1.73% 10,189
9 Countrywide Bank, N.A. 1.68% 9,912
10 Fifth Third Mortgage Company 1.67% 9,843