Key Questions:

1. Who are the leading lenders in Shelby, Iowa?
   1. The leading lenders, by market share, are Midstate Bank Na, Iowa Bankers Mortgage Corporat and Wells Fargo Bank, Na. Do you have the best rate possible? Find out your credit score or browse
2. How stretched will home owners in Shelby, Iowa be in paying off their mortgage?
   1. Homeowners in Shelby, Iowa borrowed an average of 1.40 times their annual income for their mortgage. This compares to 1.97 for all of the US. Based on the national average, a significantly lower risk that Shelby, Iowa homeowners will default on their mortgage payments in the coming years.
3. How likely are the owners of homes in Shelby, Iowa to actually live in them?
   1. 92.2% of home owners in Shelby, Iowa that applied for a mortgage in 2008 live in their homes versus owning them as an investment property. This compares to the national average of 90.0%.
4. How at risk is Shelby, Iowa to the subprime mortgage crisis?
   1. There were significantly more subprime loans taken out by home owners in Shelby, Iowa than the national average in 2008. That is to say, Shelby, Iowa will be more affected by the subprime mortgage crisis in years to come as a greater percentage of all mortgages in Shelby, Iowa - 7.4% versus 4.8% - will reset to higher rates in 2009. This will mean that there will be more foreclosures caused by the reseting of subprime mortgages in Shelby, Iowa than other areas of the US.