부동산담보대출 보유 및 상환부담 결정요인에 관한 연구

This study shows that debt holdings and repayment burden of real estate mortgage loans areaffected by location and household characteristics. The probability of debt holding, debt serviceratio (DSR) and probability of experiencing repayment burden increase, when a household residesin the Seoul metropolitan area. The following factors contribute to lowering borrower’s repaymentburden: better wealth and job security of residents living in the Seoul metropolitan area, andbetter debt quality. Especially the life cycle characteristics of households influence debt retentiondecisions and repayment burden. The higher the number of household members, the higher theprobability of holding debt and repayment burden. The more stable the job, the lower therepayment burden. This result suggests that the absolute income level as well as the income classshould be considered for the application of related policy in the future. Within the economiccharacteristics of households, the total asset and income levels influence debt retention andrepayment burden. In conclusion, qualitative indicators should be considered as well in order tobetter assess repayment burden of the borrower.