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US » Kentucky

Key Questions:

    1. How at risk is Kentucky to the subprime mortgage crisis?
    1. Loans taken out by home owners in Kentucky are within a +/- 10 percent band of the national average. That is to say, Kentucky will likely be affected by the subprime mortgage crisis just like the average county in the US.
    2. How stretched will home owners in Kentucky be in paying off their mortgage?
    1. Homeowners in Kentucky borrowed an average of 1.47 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 Kentucky homeowners will default on their mortgage payments in the coming years.
    3. Who are the leading lenders in Kentucky?
    1. The leading lenders, by market share, are Countrywide Home Loans, Beneficial Company Llc and National City Bank. Do you have the best rate possible? Get quotes from mortgage lenders.
    4. How likely are the owners of homes in Kentucky to actually live in them?
    1. 89.6% of home owners in Kentucky 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 Kentucky US
Total Applications 312,111 33,304,682
Average Loan $103.8k $184.9k
Loan to Income Ratio 1.47 1.83
Subprime Loans 11.51% 11.98%
Refinancing Loans 50.20% 50.05%
Principal Dwellings 89.57% 88.97%
Rejected Applications 13.30% 12.36%
Top Ten Lenders
# Name Share Apps
1 Countrywide Home Loans 8.03% 25,058
2 Beneficial Company Llc 4.18% 13,034
3 National City Bank 3.26% 10,181
4 Jpmorgan Chase Bank 2.96% 9,252
5 Countrywide Bank, N.A. 2.40% 7,480
6 Wells Fargo Bank, Na 2.39% 7,445
7 Fifth Third Mortgage Company 2.14% 6,664
8 Branch Banking And Trust Co 2.01% 6,273
9 Hfc Company Llc 1.76% 5,499
10 Gmac Mortgage Llc 1.67% 5,218