Abstract

http://ssrn.com/abstract=1007862
 
 

References (25)



 
 

Citations (10)



 


 



The Home Purchase Mortgage Preferences of Low- and Moderate-Income Households


Michael LaCour-Little


California State University at Fullerton


Real Estate Economics, Vol. 35, No. 3, pp. 265-290, Fall 2007

Abstract:     
Housing policy in the United States has long supported homeownership, yet variation persists across income groups. This article employs recent mortgage origination data to focus on the revealed preferences of low- and moderate-income (LMI) households in home purchase mortgage choice. I identify the factors associated with conventional conforming, FHA, nonprime and specially targeted programs. Empirical results show that individual credit characteristics and financial factors, including pricing, generally drive product choice, with some variation evident when loans are originated through brokers. Results also indicate that targeted conventional programs effectively compete with government-insured products in the LMI segment.

Number of Pages in PDF File: 26

Accepted Paper Series


Date posted: August 24, 2007  

Suggested Citation

LaCour-Little, Michael, The Home Purchase Mortgage Preferences of Low- and Moderate-Income Households. Real Estate Economics, Vol. 35, No. 3, pp. 265-290, Fall 2007. Available at SSRN: http://ssrn.com/abstract=1007862 or http://dx.doi.org/10.1111/j.1540-6229.2007.00190.x

Contact Information

Michael LaCour-Little (Contact Author)
California State University at Fullerton ( email )
5133 Mihaylo Hall
Fullerton, CA 92834-6848
United States
657-278-4014 (Phone)
657-278-2161 (Fax)
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Abstract Views: 262
Downloads: 24
References:  25
Citations:  10

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