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Alternative Mortgages in Nonmetro America

Author

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  • Meeks, Carol B.
  • Hession, John C.

Abstract

About 10 percent of nonmetro home buyers have alternative mortgages on their homes. These mortgages can have variable interest rates, variable monthly payments, and variable payback schedules. Borrowers who use such mortgages generally have higher incomes than borrowers with conventional mortgages, buy more expensive houses, and pay a slightly larger percentage of income on mortgage payments.

Suggested Citation

  • Meeks, Carol B. & Hession, John C., 1985. "Alternative Mortgages in Nonmetro America," Rural America/ Rural Development Perspectives, United States Department of Agriculture, Economic Research Service, vol. 1(2), February.
    • Handle: RePEc:ags:uersra:310345
    DOI: 10.22004/ag.econ.310345
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    Keywords

    Agricultural Finance; Financial Economics;

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