Timeline for What's a Mortgage?
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May 13, 2011 at 3:31 | comment | added | Scott Mitchell | If you are interested in the data on the occurrence of mortgages for owner-occupied properties, see census.gov/compendia/statab/2011/tables/11s0993.pdf. Roughly 70% of homes have a mortgage on them. That doesn't necessarily mean 30% of homes are purchased without a mortgage, as this number includes people who've paid off their mortgage over time, but it does highlight that the majority of Americans own their home by virtue of a mortgage. | |
May 12, 2011 at 2:14 | history | answered | Sean W. | CC BY-SA 3.0 |