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Key Questions:

    1. How at risk is Barry, Michigan to the subprime mortgage crisis?
    2. Loans taken out by home owners in Barry, Michigan are within a +/- 10 percent band of the national average. That is to say, Barry, Michigan will likely be affected by the subprime mortgage crisis just like the average county in the US.
    1. How stretched will home owners in Barry, Michigan be in paying off their mortgage?
    2. Homeowners in Barry, Michigan borrowed an average of 1.67 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 Barry, Michigan homeowners will default on their mortgage payments in the coming years.
    1. Who are the leading lenders in Barry, Michigan?
    2. The leading lenders, by market share, are Countrywide Home Loans, Hfc Company Llc and Fifth Third Mortgage, Mi Llc. Do you have the best rate possible? Get quotes from mortgage lenders.
    1. How likely are the owners of homes in Barry, Michigan to actually live in them?
    2. 93.5% of home owners in Barry, Michigan 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 Barry Michigan US
Total Applications 6,972 1,089,009 33,304,682
Average Loan $114.2k $120.8k $184.9k
Loan to Income Ratio 1.67 1.55 1.83
Subprime Loans 11.52% 12.03% 11.98%
Refinancing Loans 62.23% 59.15% 50.05%
Principal Dwellings 93.50% 90.56% 88.97%
Rejected Applications 13.63% 16.16% 12.36%

Nearby Counties:   Kalamazoo, Ionia, Calhoun, Eaton, Kent

Top Ten Lenders
# Name Share Apps
1 Countrywide Home Loans 7.77% 542
2 Hfc Company Llc 2.97% 207
3 Fifth Third Mortgage, Mi Llc 2.94% 205
4 Countrywide Bank, N.A. 2.75% 192
5 Ameriquest Mortgage Company 2.41% 168
6 Fifth Third Mortgage Company 2.12% 148
7 Hastings City Bank 1.92% 134
8 National City Bank 1.91% 133
9 Argent Mortgage Company 1.88% 131
10 Mainstreet Savings Bank, Fsb 1.82% 127