Key Questions:

1. Who are the leading lenders in Clay, South Dakota?
   1. The leading lenders, by market share, are Wells Fargo Bank, Na, First Dakota National Bank and Cortrust Mortgage. Do you have the best rate possible? Find out your credit score or browse
2. How stretched will home owners in Clay, South Dakota be in paying off their mortgage?
   1. Homeowners in Clay, South Dakota borrowed an average of 1.42 times their annual income for their mortgage. This compares to 1.97 for all of the US. Based on the national average, a significantly lower risk that Clay, South Dakota homeowners will default on their mortgage payments in the coming years.
3. How likely are the owners of homes in Clay, South Dakota to actually live in them?
   1. 81.8% of home owners in Clay, South Dakota 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, South Dakota to the subprime mortgage crisis?
   1. There were significantly more subprime loans taken out by home owners in Clay, South Dakota than the national average in 2008. That is to say, Clay, South Dakota will be more affected by the subprime mortgage crisis in years to come as a greater percentage of all mortgages in Clay, South Dakota - 8.0% 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, South Dakota than other areas of the US.