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Key Questions:

    1. How at risk is Anoka, Minnesota to the subprime mortgage crisis?
    2. Loans taken out by home owners in Anoka, Minnesota are within a +/- 10 percent band of the national average. That is to say, Anoka, Minnesota will likely be affected by the subprime mortgage crisis just like the average county in the US.
    1. How stretched will home owners in Anoka, Minnesota be in paying off their mortgage?
    2. Homeowners in Anoka, Minnesota borrowed an average of 1.88 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 Anoka, Minnesota homeowners will default on their mortgage payments in the coming years.
    1. Who are the leading lenders in Anoka, Minnesota?
    2. The leading lenders, by market share, are Wells Fargo Bank, Na, Countrywide Home Loans and Citimortgage, Inc. Do you have the best rate possible? Get quotes from mortgage lenders.
    1. How likely are the owners of homes in Anoka, Minnesota to actually live in them?
    2. 94.0% of home owners in Anoka, Minnesota 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 Anoka Minnesota US
Total Applications 42,836 537,288 33,304,682
Average Loan $161.6k $160.1k $184.9k
Loan to Income Ratio 1.88 1.79 1.83
Subprime Loans 11.78% 11.23% 11.98%
Refinancing Loans 56.69% 53.15% 50.05%
Principal Dwellings 94.05% 91.42% 88.97%
Rejected Applications 11.80% 11.55% 12.36%

Nearby Counties:   Isanti, Ramsey, Hennepin, Chisago, Washington

Top Ten Lenders
# Name Share Apps
1 Wells Fargo Bank, Na 7.72% 3,305
2 Countrywide Home Loans 6.63% 2,842
3 Citimortgage, Inc 2.93% 1,257
4 Countrywide Bank, N.A. 2.79% 1,197
5 Tcf National Bank 2.52% 1,080
6 Redidential Funding Corp. 2.29% 980
7 National City Bank 2.25% 962
8 Us Bank, N.A. 2.20% 943
9 Lehman Brothers Bank 1.96% 841
10 Washington Mutual Bank 1.56% 669