Key Questions:

1. Who are the leading lenders in Clay, Minnesota?
   1. The leading lenders, by market share, are Wells Fargo Bank, Na, State Bank & Trust and Gate City Bank. Do you have the best rate possible? Find out your credit score or browse
2. How stretched will home owners in Clay, Minnesota be in paying off their mortgage?
   1. Homeowners in Clay, Minnesota borrowed an average of 1.58 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 Clay, Minnesota homeowners will default on their mortgage payments in the coming years.
3. How likely are the owners of homes in Clay, Minnesota to actually live in them?
   1. 93.6% of home owners in Clay, Minnesota 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 Clay, Minnesota to the subprime mortgage crisis?
   1. There were significantly more subprime loans taken out by home owners in Clay, Minnesota than the national average in 2008. That is to say, Clay, Minnesota will be more affected by the subprime mortgage crisis in years to come as a greater percentage of all mortgages in Clay, Minnesota - 8.1% 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 Clay, Minnesota than other areas of the US.