Alternative Mortgages in Nonmetro America

Carol B. Meeks and John C. Hession

Rural America/ Rural Development Perspectives, 1985, vol. 01, issue 2

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.

Keywords: Agricultural Finance; Financial Economics (search for similar items in EconPapers)
Date: 1985
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Persistent link: https://EconPapers.repec.org/RePEc:ags:uersra:310345

DOI: 10.22004/ag.econ.310345

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