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US » Kentucky

Key Questions:

    1. Who are the leading lenders in Kentucky?
    1. The leading lenders, by market share, are Countrywide Bank, Fsb, Jpmorgan Chase Bank, Na 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 Kentucky be in paying off their mortgage?
    1. Homeowners in Kentucky borrowed an average of 1.65 times their annual income for their mortgage. This compares to 1.97 for all of the US. Based on the national average, there will be a normal risk that Kentucky homeowners will default on their mortgage payments in the coming years.
    3. How likely are the owners of homes in Kentucky to actually live in them?
    1. 90.8% of home owners in Kentucky 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 Kentucky to the subprime mortgage crisis?
    1. There were significantly more subprime loans taken out by home owners in Kentucky than the national average in 2008. That is to say, Kentucky will be more affected by the subprime mortgage crisis in years to come as a greater percentage of all mortgages in Kentucky - 7.5% 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 Kentucky than other areas of the US.
2008 Mortgage Research Kentucky US
Total Applications 215,096 17,391,570
Average Loan $124.5k $198.2k
Loan to Income Ratio 1.65 1.97
Subprime Loans 7.48% 4.81%
Refinancing Loans 56.96% 52.52%
Principal Dwellings 90.81% 90.00%
Rejected Applications 12.84% 15.15%
KENTUCKY Mortgage Rates
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Top Ten Lenders
# Name Share Apps
1 Countrywide Bank, Fsb 8.69% 17,054
2 Jpmorgan Chase Bank, Na 7.09% 14,156
3 Wells Fargo Bank, Na 4.22% 7,698
4 Fifth Third Mortgage Company 4.06% 7,113
5 Beneficial Company Llc 3.81% 9,022
6 Citimortgage, Inc 2.77% 4,948
7 Branch Banking And Trust Co 2.49% 6,767
8 Wells Fargo Funding, Inc 2.31% 3,476
9 Us Bank, N.A. 2.28% 4,195
10 Advanced Financial Services In 2.24% 4,632