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Axios
6 days ago
- Business
- Axios
How investors affect Columbus' housing market
Over 7% of Columbus-area homes sold in Q1 2025 went to institutional investors, straining our already strapped housing market. Why it matters: Investors like hedge funds, private equity firms or real estate investment trusts often buy homes in cash and in bulk — outcompeting average families, especially first-time homebuyers. The big picture: Columbus' share is about 1 percentage point higher than the national rate (6.3%), per a report from real estate firm ATTOM. The data measures entities that purchased at least 10 residential properties in a calendar year. Sales have been trending downward nationally since a pandemic peak, but they're holding steady locally. Between the lines: Markets attractive to investors have strong population and job growth, solid rental yields, landlord-friendly regulations, affordability and long-term appreciation potential, ATTOM CEO Rob Barber told Axios. Columbus is one of the top U.S. markets for "mega investors," per a 2023 Urban Institute study. Zoom in: A recent Dispatch investigation found that six national companies control more than 6,000 Columbus-area homes. The corporate landlords: American Homes 4 Rent, Amherst, FirstKey Homes, Progress Residential, Starwood Capital and Vinebrook Homes. American and Vinebrook have been active here for over a decade and were initially focused on the inner city, while the others entered our market during the pandemic and are targeting suburban neighborhoods. Friction point: Carlie Boos, executive director of the Affordable Housing Alliance of Central Ohio, told the Dispatch she's concerned investors are inflating prices and limiting inventory. Company representatives noted they own just a fraction of all homes and said they're expanding rental opportunities for families that can't afford to buy in nicer areas. What we're watching: State lawmakers have introduced bills aiming to curb institutional investor activity in recent years but haven't made progress.
Yahoo
19-07-2025
- Business
- Yahoo
How much equity can I borrow from my home? (And why isn't it more?)
Key takeaways There's often a big difference between the home equity you have and the home equity you can literally use, or tap, for ready cash. Homeowners can never borrow the full amount of their equity — they must leave around 20% of it in the home. The size of homeowner's outstanding mortgage, the home's current value, and the homeowner's creditworthiness can also diminish how much equity can be tapped. Shop Top Mortgage Rates Personalized rates in minutes A quicker path to financial freedom Your Path to Homeownership So, you've been faithfully paying down your mortgage and property values in your area have steadily increased. You dream of tapping your home equity for a big upcoming expense — a major renovation or to pay the kids' college tuition. Alas, you may be disappointed. Your home's value doesn't translate dollar-for-dollar into ready cash. There's often a big difference between the home equity you have and the home equity you can literally use. The actual amount you can get, and what you may pay to access it, can come as a shock. Let's look at why you may not be able to tap as much equity as you think — and how to figure out how much of your home equity you can really borrow. 46% Percent of U.S. mortgaged homes that are 'equity-rich,' meaning that their outstanding loan balance is less than half their estimated market value. Source: ATTOM first quarter 2025 U.S. Home Equity & Underwater Report Why can't I tap more equity? Your total home equity is your home's market value minus what you owe on your home loan. But, this sum isn't how much you can actually borrow with a home equity loan, home equity line of credit (HELOC) or cash-out refinance. The former is in a sense theoretical equity — the worth of your ownership stake on paper. The latter is what the financial pros call tappable equity and – unless you own your home outright — it's invariably less. $302,000 vs. $194,000 The average mortgage-holding homeowner has, on paper, an equity stake worth about $302,000. However, the amount of tappable equity — able to be withdrawn, while leaving 20% of the stake untouched — comes to $194,000. Here are 4 ways your tappable equity can come up short. 1. You can't borrow it all To begin with, lenders never let you borrow the full amount of your ownership stake. 'It depends on the lender, but generally the maximum is going to be 80 percent of the [home's] current appraised value,' says Ron Haynie, senior vice president of mortgage finance policy for the Independent Community Bankers of America, the primary trade group for small banks in America. He adds that some lenders may go higher, but the standard is 80 percent. Put another way: You have to leave a certain amount of equity untouched, still in the home, so to speak — generally 20 percent. Let's say your home has appreciated to a value of $500,000, and you own it free and clear. Even with an equity stake worth $500,000, a lender might insist you keep $100,000 in the house, capping your borrowing power to $400,000. Why do lenders limit the amount of equity you can tap? To mitigate risk, both theirs and yours, in case your home's value drops. If you leveraged all of your equity and your home depreciated — due to an economic recession or a decline in local property values, say — you could end up owing more than it's worth. Colloquially known as being underwater on your mortgage, it's a precarious situation, as you won't be able to sell your house at its current value without owing the difference to your lender. Calculating your home equity Home's appraised value – mortgage balance = total home equity(Home's appraised value x 0.8) – mortgage balance = typical tappable home equity 2. You've got a big mortgage balance Your outstanding mortgage will also impact the amount of equity you can tap. In deciding how big of a home-backed loan to give you, lenders look at something called a loan-to-value (LTV) ratio — the size of your loan as a percentage of your property's worth. The higher the LTV, the more risk for the lender, so generally, lenders want your LTV to be no more than 80-85 percent — effectively, the flip side of keeping 15-20 percent of equity untapped. Here's the catch: When you go to apply for a home equity loan or HELOC, lenders don't just look at what the LTV of that would be. They consider your mortgage too. It's this combined LTV (CLTV), the sum total of all your home-based debt, that can't exceed 80 percent. For example, say your home is worth $500,000 and you owe $250,000. That translates to a 50 percent LTV. 250,000 [mortgage balance] / 500,000 [home value] = 0.5 or 50% Now, say you want to take out a $150,000 home equity loan. Your $250,000 primary mortgage and the $150,000 combine to make $400,000 — which is 80 percent of $500,000. So, you have a CLTV of 80 percent. $250,000 [mortgage balance] + $150,000 [home equity loan]) / $500,000 [home value] = 0.8 or 80% Obviously, the higher your home loan balance is, the higher your CLTV ratio and the less available equity you have to borrow against — and vice versa. Say you want to borrow $50,000 with a home equity loan. Since your home is valued at $350,000, and you have a mortgage balance of $250,000, that means you have $100,000 in equity — plenty for the loan, right? Unfortunately, no. The $250,000 mortgage balance plus the $50,000 home equity loan would put you at $300,000, or a CLTV of around 86 percent — too high for most lenders. This is why home equity loans often work best for homeowners who are well into their mortgage terms, and have a substantial equity stake built up. Many lenders insist that HE loan and HELOC applicants own at least 20 percent of their homes outright. If you have more than one home — or are planning to buy a second one, using the equity of your first home — some lenders may consider the CLTV of all of your properties combined, explains Satyan Merchant, Senior Vice President of Automotive and Mortgages at TransUnion. 'In an extreme case, I may have a 50 percent loan-to-value on one of my properties but I might be overleveraged with 120 percent on another one,' he says. 'So, it's really important for the lender to know the combined-loan-to-value across all my properties.' 3. Your home is worth less than you thought Many rosy home equity projections fall short for another reason — an over-valuation of the home. All home equity calculations — and home equity calculators — begin with your home's worth. While there are many online home value estimators, their accuracy is often questionable — and they're just estimates, anyway. In determining your loan, your lender is going to order up a home appraisal and use the value determined by the appraiser. 'It gets down to, if your house appraises for less than what you think it is, the amount that's going to be available to you is going to be less,' says Haynie. 'You may have wanted $100,000 — you may only get $70,000.' Appraisals can be more apt to fall short as you and your property get older. According to a study by the Federal Reserve Bank of Philadelphia, there's a direct correlation between an applicant's age and the likelihood that they'll be denied due to 'insufficient collateral' — the property appraising below the applied loan amount, and so unable to back a refi or home equity loan. 4. Your financials are lacking Here's another wrinkle: You can't tap your home equity because you don't qualify. Like your initial mortgage application, lenders have financial requirements for borrowing against your home equity. 'Even if somebody has a lot of equity in their house, generally the lender's not going to make that loan just based on equity,' Haynie says. It's also going to look at factors like your credit score and debt-to-income (DTI) ratio. These variables, plus your income and CLTV, all impact how a lender decides how much to lend you, and how much interest to charge you as well, Merchant explains. It can be tough to get a home equity loan or HELOC, especially — tougher than a primary mortgage. In fact, over 47 percent of HELOC applications were denied in Q4 of 2024, according to the Home Mortgage Disclosure Act data. It's common for lenders to require a minimum credit score of 680, with the best interest rates reserved for those with credit scores of 740 and up. On its face, a cash-out refinance may appear easier to qualify for, with a lower minimum credit score of 620. However, since cash-out refinances typically involve larger amounts and have a more lengthy and strenuous underwriting process, they can be more difficult to get, explains Greg McBride, Bankrate's chief financial analyst. In fact, 21 percent of cash-out refinance loan applications were denied in 2024, according to the Home Mortgage Disclosure Act data. Over 28 percent were withdrawn or left incomplete. What are the requirements for borrowing against home equity? The specific requirements to borrow against your equity vary, depending on the vehicle (cash-out refinance, HELOC or home equity loan) and the lender. However, in general, you'll need:Credit score: Minimum of 620 for a cash-out refinance and 640 to 680 for a home equity loan or HELOCDebt-to-income (DTI) ratio: 43% or lessCombined loan-to-value (CLTV): No more than 80%, including both your primary mortgage and the home equity financing option you choose How tappable home equity dwindles Say you own a home you believe to be valued at $400,000, and your primary mortgage balance is $250,000. This means you have $150,000 in equity, equal to 37.5 percent of your home's value. But don't think this means you have $150,000 to play with. Or even $120,000 (assuming you leave 20 percent equity untouched). Remember the loan-to-value ratio, the CLTV? Let's assume your lender demands your debts not exceed 80 percent of your home's worth — that comes to $320,000. You already owe $250,000 on your mortgage. So, subtracting your current mortgage from your maximum CLTV of $320,000: 400,000 x.8 = 320,000 – 250,000 = 70,000 That leaves you with $70,000 as the maximum amount of home equity you can tap. When you apply for a HE Loan or HELOC , the lender orders a home appraisal. If the appraisal comes back at $400,000 or above, and you have a good financial profile, you're likely to get approved for the $70,000. However, let's say the appraisal comes back low — $370,000. With a mortgage balance of $250,000, you're now left with $120,000 in equity. Since you have to keep 20 percent equity ($74,000) in the home, that leaves you with only $46,000 you can tap. Finally, don't forget closing costs (yes, these out-of-pocket, upfront expenses, which you doubtless remember from your first mortgage, come with home equity financing too). A cash-out refinance, which replaces your primary mortgage with a new bigger one, basing the difference on your home equity's worth, carries closing costs that can account for 2 to 5 percent of the loan principal. For a loan of $320,000 (your $250,000 balance plus the $70,000 in cash you're taking out), that can cost you in the range of $6,400 to $16,000. Alternatively, home equity loans and HELOCs come with lower upfront fees. But they do have higher interest rates than cash-out refis: A monthly payment on a 20-year home equity loan of $70,000 at 9.1 percent is currently $634.32. If you don't have the income to qualify for this payment, you'll be lent less or denied the loan. How to tap more home equity How to boost how much equity you can borrow? It can be tough, but there are ways. Get another appraisal: If you've been denied the loan amount you want because your home appraised low, you may be able to appeal it and get the lender to re-appraise. Carefully review the appraisal report, looking for any errors or missing information: Did they misstate the square footage? Overlook a bedroom? Use outdated comps? 'Appraisals that are incorrectly too low should be appealed — mistakes and oversights do occur from time to time,' says McBride. You can also request and pay for a second appraisal. But there's no guarantee it'll come up with a better result. Try a different lender: While lenders may have similar guidelines, they prioritize different loan types depending on their business strategy. 'Banks tend to constantly evaluate where they want to grow or pull back,' says Merchant. Smaller banks and lenders may be more amenable because they want to offer more of a certain home equity product, he explains. Other lenders have higher borrowing thresholds. For instance, Connexus Credit Union's HELOCs and home equity loans allow you to borrow up to 90 percent of your equity, while offers a HELOC with up to 95 percent. Of course, such products may be more difficult to qualify for or carry higher interest rates. Increasing your home equity borrowing power If you can't get a big enough home loan now, you may have to wait — and think longer term. First, you can try remodeling to boost your home's value. Focus on small, more affordable improvements, like upgrading your garage door, boosting your curb appeal, and making small-but-significant repairs. It's amazing what a new coat of paint can do — literally. All of these efforts can add up. Just remember to document them and submit a list of your improvements to the appraiser, when it comes time to apply. Still, home value appreciation is more affected by the real estate market trends than by consumer decisions, Merchant explains. 'Where a consumer does have a little more control is their own credit,' he says. 'A tangible thing a consumer can do is to ensure they're taking the right steps to manage their credit to get their credit score as high as they can.' So, strengthen your financial profile — paying down debts as much as possible. And increase your assets — starting with your home. The simple truth is, if you want to tap more equity, create more equity to tap by paying your mortgage. Due to mortgages' amortization schedules, the further along you are in your term, the more equity you'll accrue with each payment. If you can pay more each month, or make an additional payment, your ownership stake will appreciate faster. Bottom line on how much home equity you can borrow Thanks to the unprecedented rise in housing prices of the last few years, Americans have amassed record levels of home equity, an ownership stake they can supposedly borrow against. But there's a big disparity between your theoretical equity and your tappable equity. A variety of factors ensures that your ownership stake translates into a lot less cash than you think. Definitely shop around, comparing home equity lenders and their terms. And if you can't borrow the amount of home equity you want now, you may be able to do it later — especially if you can improve your credit, pay down debts (especially your mortgage), and upgrade the home in the meantime. FAQ about tapping home equity How do you borrow against your home equity? You can borrow against your equity in several ways: by using a home equity loan, HELOC or cash-out refinance. Home equity loans: Also known as a 'second mortgage,' home equity loans take out your home equity and create a second lien on your home. After the loan closes, you're given the loan in a lump sum, with five to 30 years at a fixed interest rate to pay it off, depending on the terms of loan. Home equity lines of credit (HELOCs): HELOCs are second liens like home equity loans, but they function more like a credit card. You're given a limit you can borrow and you can draw up to that amount. They're split into two periods: a 10-year draw period where you can access the funds, followed by 20 years of repaying the debt. HELOCs also usually have variable interest rates. Cash-out refinance: Unlike home equity loans and HELOCs, cash-out refinances replace your primary mortgage with a new one at a higher amount; you get the difference between the two — based on the amount of your equity — in cash. They have lower interest rates than other home equity products, but higher closing costs. Learn more about the differences between the three. Home equity loan vs. HELOC: What's the difference? Home equity loans and HELOCs both let you tap into your home equity, but there are some key differences between them, like: Term length: Typically HELOCs are spread out over a 30-year period, with a 10-year draw period to access funds, followed by a 20-year repayment period. Home equity loan term lengths can range from five to 30 years. Access to cash: Home equity loans convert your equity into a lump sum of cash that you'll be given after the loan closes. HELOCs act more like credit cards; you'll have a total draw limit that you can borrow up to, and you'll only pay back what you borrow (plus interest). Repayment: Home equity loans are fully amortized, meaning your monthly payment will stay the same from the first month to the last month of the loan term. HELOCs are a more of a pay-as-you-go approach, with many HELOCs requiring only payments on interest during the draw period. Interest rate: Most home equity loans come with a fixed interest rate, whereas HELOCs usually have adjustable rates. However, some HELOCs allow you to convert your rate to a fixed rate, often for a fee. Are there fees for tapping home equity? Yes, there are fees associated with accessing your home equity. You will be required to pay closing costs (yes, these out-of-pocket, upfront expenses you doubtless remember from your primary mortgage come with home equity financing too). A cash-out refinance, which replaces your primary mortgage with a new bigger one, basing the difference on your home equity's worth, carries closing costs that can account for 2 to 5 percent of the loan principal. For a loan of $320,000 (your $250,000 balance plus the $70,000 in cash you're taking out), that can cost you in the range of $6,400 to $16,000. Alternatively, home equity loans and HELOCs come with lower upfront fees. But they do have higher interest rates than cash-out refis: A monthly payment on a 20-year home equity loan of $70,000 at 8.4 percent is currently $603. If you don't have the income to qualify for this payment, you'll be lent less or denied the loan. How do you apply for a home equity loan or HELOC? Applying for home equity financing is actually pretty similar to – though somewhat simpler than – applying for a mortgage. Be prepared to provide: Proof of employment and income, which may include pay stubs, tax returns, W-2s or 1099s Bank/financial statements Homeowners insurance policy Proof you own the home (title or deed) List of assets and debts, including your mortgage The reason for requesting the loan (though this isn't binding) The lender will also pull your credit score and a copy of your credit report. Expect the underwriting process to take up to a month, though some online lenders promise decisions in as little as five days. Additional reporting by Larissa Runkle
Axios
10-07-2025
- Business
- Axios
Arizona sees drop in institutional homebuyers
Institutional investors bought 6.9% of homes sold in Arizona in the first quarter of 2025, an 11% decrease from one year earlier, according to real estate data firm ATTOM. Why it matters: Investors, who often compete with first-time buyers, have pulled back from the U.S. housing market in recent years. By the numbers: In the Phoenix metro area, institutional investors bought 7.5% of houses in the first quarter of 2025, compared with 8.2% in the same stretch last year. The Arizona city with the largest share of houses bought by individual investors in the first quarter was Yuma, at 10%. That's a 22% jump from the same period last year. Tucson's rate dropped by 23%, to 5.7% of houses sold. The big picture: Nationally, the total number of home sales to institutional investors in Q1 fell to its lowest rate since 2020 — mirroring a broader slowdown in the residential real estate market — even as their share of total sales ticked up to 6.3% from 6.1% in the previous quarter, per ATTOM. Alabama's share was highest at 10.9%, while Maine's was lowest at 2.7%, among states with enough data. Catch up quick: Corporate homebuyers have been a contentious issue in Arizona as the state grapples with a housing shortage that's driven up prices. The League of Arizona Cities and Towns responded to this year's failed starter homes legislation with a counterproposal that would put limits on sales to investors. Gov. Katie Hobbs proposed starter homes legislation to limit the percentage of the new homes that could be sold to investors. In an op-ed in the Arizona Republic last year, Democratic state lawmakers Juan Mendez and Oscar De Los Santos argued that "price-gouging middlemen" keep houses out of would-be owners' hands, charge exorbitant rents and convert homes into short-term rentals. Between the lines: Investors want to see strong population and job growth, solid rental yields, landlord-friendly regulations, affordability, and long-term appreciation potential, ATTOM CEO Rob Barber previously told Axios.
Yahoo
12-06-2025
- Business
- Yahoo
CALIFORNIA AND NEW JERSEY LOCALES TOP COUNTIES FACING GREATEST HOUSING MARKET HEADWINDS
Southern counties, led by regions of Tennessee and Virginia, show greatest signs of strength; Home affordability is a challenge almost everywhere, while foreclosures, mortgage health, and unemployment rates vary widely IRVINE, Calif., June 12, 2025 /PRNewswire/ -- ATTOM, a leading curator of land, property data, and real estate analytics, today released its latest Special Housing Risk Report spotlighting county-level housing markets around the United States that are more or less vulnerable to declines, based on home affordability, equity and other measures in the first quarter of 2025. The report shows that California and New Jersey had high concentrations of counties considered most at-risk. The data shows that 23 of the 50 most at-risk markets were in California (14) and New Jersey (9). Risk was determined by affordability, proportion of seriously underwater mortgages, foreclosures, and unemployment rates. In a sign of the robust post-pandemic housing market, the number of foreclosures and proportion of homes with seriously underwater mortgages—meaning the combined estimated balance of loans secured by the property was at least 25 percent more than the property's estimated market value—remained low throughout much of the country during the first quarter of the year. But that stability, combined with several years of aggressive buying, has contributed to escalating prices that make it increasingly hard to purchase a new home in some markets. In 109 of the counties ATTOM analyzed, a typical resident would have to spend more than half of their annual income to cover the down payment, mortgage, and other initial expenses for a median-priced home. "This report highlights a number of market forces that anyone with an interest in their local housing market should keep an eye on," said Rob Barber, CEO at ATTOM. "Affordability is an obvious concern, but as the data shows, there's a complex interplay between price, wages, mortgage health, and foreclosure rates that can give even greater insight into where property values are likely to go in the future." "There's no unequivocal metric that can tell you where it's safe to buy and where it's risky," he added. "But taken together these data points show how different parts of the country are performing." Counties were considered more or less at risk based on the percentage of homes facing possible foreclosure, the portion with seriously underwater mortgages, the percentage of average local wages required to pay for major home ownership expenses on median-priced single-family homes, and local unemployment rates. The conclusions were drawn from an analysis of the most recent home affordability, equity and foreclosure reports prepared by ATTOM. Unemployment rates came from federal government data. Rankings were based on a combination of those four categories in 572 counties around the United States with sufficient data to analyze in the first quarter of 2025. Counties were ranked in each category, from lowest to highest, with the overall conclusion based on a combination of the four ranks. See below for the full methodology. As the summer buying season kicks into full gear amid uncertainty about how tariffs and federal legislation will affect the broader economy, ATTOM's analysis provides a touchstone for potential homebuyers and real estate investors seeking to understand the health of their local market. California had 14 of top 50 riskiest countiesThe three most at-risk counties in ATTOM's analysis—Butte, Humboldt, and Shasta counties—cover regions of Northern California that, in addition to contending with challenging market forces, have been ravaged by wildfires in recent years. Rounding out the top five most at-risk counties were New Jersey's Atlantic and Cumberland counties along the state's southern coast. In previous years, counties surrounding New York City, NY have scored among the riskiest in the nation. But that wasn't the case in the first quarter of 2025. No New York counties landed among the 50 riskiest markets, and although nine New Jersey counties did, they were largely in the central and southern part of the state. Poor affordability and mortgage health characterize riskiest marketsNationwide, the typical purchaser had to spend just under a third of their annual wage (32.5 percent) to afford down payment, mortgage, and other expenses for a median-priced home in the first quarter of 2025. But that affordability measure varied widely by region. Housing expenses as a share of income exceeded the national rate in 59.3 percent (339) of the 572 counties in ATTOM's analysis. In Kings County, NY, initial expenses for a median-priced home consumed 109.5 percent of a typical resident's annual salary. That was followed by Maui County, HI (101.5 percent or the region's typical annual salary); San Luis Obispo County, CA (100.1 percent of a typical salary); Orange County, CA (97.8 percent of a typical salary); and Marin County, CA (97.5 percent of a typical salary). Across the country, 2.8 percent of properties had mortgages considered seriously underwater but 37.8 percent (216) of the 572 counties we examined exceeded that rate and a handful of Louisiana parishes posted double-digit rates of seriously underwater homes. Calcasieu Parish, LA had the highest rate of seriously underwater properties (14 percent), followed by East Baton Rouge Parish, LA (13.7 percent); Caddo Parish (13.4 percent); Rapides Parish, LA (13.1 percent); and Ouachita Parish, LA (12.8 percent). More than one of every 1,000 properties faced a foreclosure action in the first quarter of 2025 in 19.2 percent (110) of the 572 counties. Nationwide, one in every 1,515 homes faced foreclosure. The counties with the worst foreclosure rates were Dorchester County, SC (one in every 434 homes); Johnson County, TX (one in every 463 homes); Highlands County, FL (one in every 472 homes); Cumberland County, NJ (one in every 473 homes); and Kaufman County, TX (one in every 517 homes). The national unemployment rate in March 2025 was 4.3 percent, but once again there was significant regional variation. About a third of the 572 counties had higher unemployment rates, led by Imperial County, CA (16.6 percent unemployment); Tulare County, CA (11.4 percent); Merced County, CA (11.3 percent); Yuma County, AZ (11.1 percent); and Kings County, CA (10 percent). South leads the way with least risky countiesMore than half (27) of the 50 least at-risk counties in the analysis were located in Southern states, followed by 12 from Midwestern states and seven from states in the Northeast. Tennessee led the way with nine counties: Sullivan, Hamilton, Washington, Blount, Sumner, Davidson, Wilson, Knox, and Rutherford. Virginia posted seven counties among the 50 most favorable: Henrico, Prince William, Alexandria City, Arlington, Virginia Beach City, Loudoun, and Fairfax. And Wisconsin had four: Outagamie, Winnebago, Brown, and La Crosse. In addition to Fairfax County, VA, which is in the Washington, D.C. suburbs, several other major metro areas also scored in the top 50. They included Honolulu County, HI; Hennepin County, MN (which encapsulates Minneapolis and St. Paul); and Wake County, NC (which covers Raleigh). Foreclosure and unemployment rates strong indicators of county housing market strengthThe counties that scored in the top 50 least risky tended to be more affordable for prospective buyers than those at the other end of the spectrum, but not by a large margin. A typical resident had to spend less than a third of their annual income to purchase and pay for a new home in 38 percent (19) of the top 50 counties compared to 30 percent (15) of the 50 most risky counties. Among the 50 most favorable counties, the ones with the lowest portion of wages required for home ownership were Madison County, AL (21.4 percent); Sullivan County, TN (21.6 percent); Morgan County, AL (23.3 percent); Midland County, TX (25.6 percent); and Durham County, NC (26.4 percent). Of those top 50 least at risk counties, 44 counties were beating the national rate of 2.8 percent of homes with seriously underwater mortgages. The top counties with the lowest rate of seriously underwater homes were Loudoun County, VA (0.5 percent); Prince William County, VA (0.7 percent); Fairfax County, VA (0.9 percent); Maui County, HI (0.9 percent); and Saratoga County, NY (1 percent). Only one of the 50 least risky counties had a foreclosure filing rate greater than the national average of one in every 1,515 homes (in Shelby County, AL, one in every 1,465 homes faced possible foreclosure in the first quarter of 2025). Among the top 50 counties, the best foreclosure rates were in Arlington County, VA (one in every 17,249 homes); Gallatin County, MT (one in every 11,118 homes); Medina County, OH (one in every 10,815 homes); La Crosse County, WI (one in every 7,605 homes); and Berkeley County, WV (one in every 7,502 homes). Across the board, the 50 least risky counties had unemployment rates below the national rate of 4.3 percent. The best rates were in Minnehaha County, SD (1.9 percent); Gallatin County, MT (2.2 percent); Honolulu County, HI (2.3 percent); Rutherford County, TN (2.6 percent); and Hamilton County, IN (2.6 percent). Report methodologyThe ATTOM Special Market Impact Report is based on ATTOM's first quarter 2025 foreclosure activity, home affordability and underwater property reports, plus March 2025 unemployment figures from the U.S. Bureau of Labor Statistics. (Press releases for affordability, foreclosure and underwater-property reports show the methodology for each.) Counties with sufficient data to analyze were ranked based on the first-quarter percentage of properties with a foreclosure filing, the percentage of average local wages needed to afford the major expenses of owning a median-priced home and the percentage of properties with outstanding mortgage balances that exceeded 125 percent of their estimated market values, along with March 2025 county-level unemployment rates. Ranks then were added up to develop a composite ranking across all four categories. Equal weight was given to each category. Counties with the lowest composite rank were considered most vulnerable to housing market problems. Those with the highest composite rank were considered least vulnerable. About ATTOMATTOM powers innovation across industries with premium property data and analytics covering 158 million U.S. properties—99% of the population. Our multi-sourced real estate data includes property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, neighborhood and geospatial boundary information, all validated through a rigorous 20-step process and linked by a unique ATTOM ID. From flexible delivery solutions—such as Property Data APIs, Bulk File Licenses, ATTOM Cloud, Real Estate Market Trends—to AI-Ready datasets, ATTOM fuels smarter decision-making across industries including real estate, mortgage, insurance, government, and more. Media Contact:Megan Data and Report Licensing:datareports@ View original content to download multimedia: SOURCE ATTOM
Business Wire
11-06-2025
- Business
- Business Wire
Monroe Capital Supports Growth of ATTOM Data Solutions
CHICAGO--(BUSINESS WIRE)--Monroe Capital LLC ('Monroe') announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the growth of ATTOM Data Solutions ('ATTOM'), a portfolio company of Lovell Minnick Partners. Founded in 1996 and headquartered in Irvine, CA, ATTOM is a leading curator of land, property data, and real estate analytics. They provide property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, neighborhood, and geospatial boundary data for more than 158 million U.S. residential and commercial properties covering 99 percent of the nation's population. ATTOM licenses its data to companies in the real estate, mortgage, insurance, marketing, and adjacent industries. About Monroe Capital Monroe Capital LLC ('Monroe') is a premier asset management firm specializing in private credit markets across various strategies, including direct lending, technology finance, venture debt, alternative credit solutions, structured credit, real estate and equity. Since 2004, the firm has been successfully providing capital solutions to clients in the U.S. and Canada. Monroe prides itself on being a value-added and user-friendly partner to business owners, management, and both private equity and independent sponsors. Monroe's platform offers a wide variety of investment products for both institutional and high net worth investors with a focus on generating high quality 'alpha' returns irrespective of business or economic cycles. The firm is headquartered in Chicago and has 11 locations throughout the United States, Asia and Australia. Monroe has been recognized by both its peers and investors with various awards including Private Debt Investor as the 2024 Lower Mid-Market Lender of the Year, Americas and 2023 Lower Mid-Market Lender of the Decade; Inc.'s 2024 Founder-Friendly Investors List; Global M&A Network as the 2023 Lower Mid-Markets Lender of the Year, U.S.A.; DealCatalyst as the 2022 Best CLO Manager of the Year; Korean Economic Daily as the 2022 Best Performance in Private Debt – Mid Cap; Creditflux as the 2021 Best U.S. Direct Lending Fund; and Pension Bridge as the 2020 Private Credit Strategy of the Year. For more information and important disclaimers, please visit
