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Key Questions:

    1. How at risk is Tippecanoe, Indiana to the subprime mortgage crisis?
    2. Subprime loans taken out by home owners in Tippecanoe, Indiana were meaningfully less than the national average in 2006. That is to say, Tippecanoe, Indiana will likely be less affected by the subprime mortgage crisis in years to come as a lesser percentage of all mortgages in Tippecanoe, Indiana - 9.1% versus 12.0% - will reset to higher rates in 2008.
    1. How stretched will home owners in Tippecanoe, Indiana be in paying off their mortgage?
    2. Homeowners in Tippecanoe, Indiana borrowed an average of 1.41 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 Tippecanoe, Indiana homeowners will default on their mortgage payments in the coming years.
    1. Who are the leading lenders in Tippecanoe, Indiana?
    2. The leading lenders, by market share, are Purdue Employees Fcu, Gmac Mortgage Llc and Countrywide Home Loans. Do you have the best rate possible? Get quotes from mortgage lenders.
    1. How likely are the owners of homes in Tippecanoe, Indiana to actually live in them?
    2. 87.8% of home owners in Tippecanoe, 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 Tippecanoe Indiana US
Total Applications 11,224 589,820 33,304,682
Average Loan $107.5k $104.7k $184.9k
Loan to Income Ratio 1.41 1.47 1.83
Subprime Loans 9.10% 12.30% 11.98%
Refinancing Loans 46.23% 50.25% 50.05%
Principal Dwellings 87.81% 90.31% 88.97%
Rejected Applications 12.46% 14.20% 12.36%

Nearby Counties:   Montgomery, White, Carroll, Clinton, Fountain

Top Ten Lenders
# Name Share Apps
1 Purdue Employees Fcu 6.07% 681
2 Gmac Mortgage Llc 4.69% 526
3 Countrywide Home Loans 4.22% 474
4 The Huntington National Bank 4.04% 454
5 Jpmorgan Chase Bank 3.85% 432
6 Beneficial Company Llc 3.04% 341
7 Lafayette Savings Bank 2.84% 319
8 Lafayette Bank & Trust Na 2.66% 298
9 Ameriquest Mortgage Company 2.58% 290
10 Wells Fargo Bank, Na 2.49% 279