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Key Questions:

    1. How at risk is Porter, Indiana to the subprime mortgage crisis?
    2. Loans taken out by home owners in Porter, Indiana are within a +/- 10 percent band of the national average. That is to say, Porter, Indiana will likely be affected by the subprime mortgage crisis just like the average county in the US.
    1. How stretched will home owners in Porter, Indiana be in paying off their mortgage?
    2. Homeowners in Porter, Indiana borrowed an average of 1.60 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 Porter, Indiana homeowners will default on their mortgage payments in the coming years.
    1. Who are the leading lenders in Porter, Indiana?
    2. The leading lenders, by market share, are Countrywide Home Loans, Jpmorgan Chase Bank and Centier Bank. Do you have the best rate possible? Get quotes from mortgage lenders.
    1. How likely are the owners of homes in Porter, Indiana to actually live in them?
    2. 93.2% of home owners in Porter, 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 Porter Indiana US
Total Applications 16,178 589,820 33,304,682
Average Loan $134.0k $104.7k $184.9k
Loan to Income Ratio 1.60 1.47 1.83
Subprime Loans 11.93% 12.30% 11.98%
Refinancing Loans 49.65% 50.25% 50.05%
Principal Dwellings 93.18% 90.31% 88.97%
Rejected Applications 10.46% 14.20% 12.36%

Nearby Counties:   Lake, Laporte, Jasper, Starke, Pulaski

Top Ten Lenders
# Name Share Apps
1 Countrywide Home Loans 7.32% 1,184
2 Jpmorgan Chase Bank 4.26% 689
3 Centier Bank 3.07% 497
4 Wells Fargo Bank, Na 2.86% 463
5 National City Bank 2.84% 460
6 Ameriquest Mortgage Company 2.74% 443
7 Washington Mutual Bank 2.51% 406
8 First Magnus Financial Corp 2.48% 402
9 Countrywide Bank, N.A. 2.31% 373
10 Citimortgage, Inc 2.31% 373