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Key Questions:

    1. How at risk is Anderson, Tennessee to the subprime mortgage crisis?
    2. Loans taken out by home owners in Anderson, Tennessee are within a +/- 10 percent band of the national average. That is to say, Anderson, Tennessee will likely be affected by the subprime mortgage crisis just like the average county in the US.
    1. How stretched will home owners in Anderson, Tennessee be in paying off their mortgage?
    2. Homeowners in Anderson, Tennessee borrowed an average of 1.53 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 Anderson, Tennessee homeowners will default on their mortgage payments in the coming years.
    1. Who are the leading lenders in Anderson, Tennessee?
    2. The leading lenders, by market share, are Washington Mutual Bank, Countrywide Home Loans and Mortgage Investors Group. Do you have the best rate possible? Get quotes from mortgage lenders.
    1. How likely are the owners of homes in Anderson, Tennessee to actually live in them?
    2. 89.5% of home owners in Anderson, Tennessee 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 Anderson Tennessee US
Total Applications 6,467 605,362 33,304,682
Average Loan $100.4k $117.4k $184.9k
Loan to Income Ratio 1.53 1.55 1.83
Subprime Loans 11.41% 11.74% 11.98%
Refinancing Loans 44.55% 45.92% 50.05%
Principal Dwellings 89.53% 88.23% 88.97%
Rejected Applications 11.15% 11.86% 12.36%

Nearby Counties:   Campbell, Knox, Union, Loudon, Roane

Top Ten Lenders
# Name Share Apps
1 Washington Mutual Bank 4.90% 317
2 Countrywide Home Loans 4.55% 294
3 Mortgage Investors Group 4.55% 294
4 Hfc Company Llc 3.74% 242
5 Vanderbilt Mortgage 3.48% 225
6 Ornl Federal Credit Union 2.88% 186
7 National City Bank 2.86% 185
8 Wells Fargo Bank, Na 2.85% 184
9 Ameriquest Mortgage Company 2.32% 150
10 Jpmorgan Chase Bank 2.29% 148