Lending information for Iowa - Market Share of Lenders

1. The leading lenders, by market share, are Wells Fargo Bank, Na, Countrywide Home Loans and Countrywide Bank, Fsb. Do you have the best rate possible? Find out your credit score or browse
1. Homeowners in Iowa borrowed an average of 1.45 times their annual income for their mortgage. This compares to 1.89 for all of the US. Based on the national average, there will be a normal risk that Iowa homeowners will default on their mortgage payments in the coming years.
1. 93.1% of home owners in Iowa that applied for a mortgage in 2007 live in their homes versus owning them as an investment property. This compares to the national average of 89.7%.
1. Subprime loans taken out by home owners in Iowa were meaningful more than the national average in 2007. That is to say, Iowa will likely be more affected by the subprime mortgage crisis in years to come as a greater percentage of all mortgages in Iowa - 8.5% versus 7.2% - will reset to higher rates in 2009. This will likely trigger a higher amount of foreclosures caused by the reseting of subprime mortgages in Iowa than other areas of the US.

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