주택담보대출의 선택 요인 분석: 수(손)익 공유형 모기지 및 내집마련디딤돌대출을 중심으로

This study examines the determinants of borrower’s choice for Shared Appriciation and/or Depreciation Mortgage, which was introduced on August 28, 2013, by logistic regression analysis. Three estimation models are used: 1) Choice between Shared Appreciation or Depreciation Mortgage vs general Mortgage, 2) Choice between Shared Appreciation Mortgage(SAM) vs Shared Appreciation and Depreciation Mortgage(SADM). 3) Choice between SAM vs general Mortgage. The explanatory variables employed are age, number of children, LTV, household annual income, Interest Rate Difference, location, house price increase rate. The results show that the more children, the more they preferred general mortgages and the higher the house price, the higher the LTV, the higher the annual household income, the wider loan interest rate difference, if located in the Seoul metropolitan area, the more the house price increase rate; the higher the probability of choice for Shared Appriciation and/or Depreciation Mortgage. In addition, the higher the LTV, the higher the annual household income, the more profitable Shared Appriciation Mortgage were preferred. The higher the age, the wider loan interest rate difference and the lower the housing price increase rate; the higher the probability of choice for Shared Appriciation and Depreciation Mortgage.