 |
|
American Housing Survey (AHS)
|
|
|
|
Detailed Tables for Black Occupied Housing Units
WHAT ARE THE MORTGAGE TERMS? Table 5-15
Owner-
Occupied
housing units
Mortgages Currently on Property1
2,113,000 None, owned free and clear
2,000 Reverse mortgage
4,013,000 Regular and/or home-equity mortgage2
3,785,000 Regular mortgage
343,000 Home-equity lump-sum mortgage
310,000 Home-equity line of credit
190,000 Line of credit not reported, no regular or lump sum
Number of Regular Mortgages and Home Equity Mortgages
3,165,000 1 mortgage
487,000 2 mortgages
86,000 3 mortgages or more
466,000 Number not reported
Types of Mortgages
194,000 Regular and home-equity lump sum
43,000 With home-equity line of credit
148,000 No home-equity line of credit
4,000 Home-equity line of credit not reported
3,591,000 Regular, no home-equity lump sum
180,000 With home-equity line of credit
3,142,000 No home-equity line of credit
268,000 Home-equity line of credit not reported
149,000 Home-equity lump sum, no regular
7,000 With home-equity line of credit
141,000 No home-equity line of credit
- Home-equity line of credit not reported
2,385,000 No regular or home-equity lump sum
80,000 With home-equity line of credit
2,115,000 No home-equity line of credit
190,000 Home-equity line of credit not reported
Owners With One or More Regular or Lump-Sum Home-Equity Mortgages
3,934,000 Total
Land Contract
2,949,000 Units with one regular mortgage only
484,000 Mortgage is a land contract
2,372,000 Not a land contract
94,000 Not reported
Type of Primary Mortgage
1,023,000 FHA
271,000 VA
48,000 RHS/RD
2,225,000 Other types
38,000 Don't know
329,000 Not reported
Lower Cost State and Local Mortgages
612,000 State or local program used
2,975,000 Not used
347,000 Not reported
Mortgage Origination
3,852,000 Placed new mortgage(s)
2,979,000 Primary obtained when property acquired
872,000 Obtained later
62,000 Assumed
2,000 Wrap-around
18,000 Combination of the above
Payment Plan of Primary Mortgage
3,127,000 Fixed payment, self amortizing
163,000 Adjustable rate mortgage
41,000 Adjustable term mortgage
46,000 Graduated payment mortgage
18,000 Balloon
- Other
29,000 Combination of the above
510,000 Not reported
Payment Plan of Secondary Mortgage
397,000 Units with two or more mortgages
343,000 Fixed payment, self amortizing
12,000 Adjustable rate mortgage
19,000 Adjustable term mortgage
- Graduated payment mortgage
5,000 Balloon
- Other
3,000 Combination of the above
16,000 Not reported
Lenders of Primary and Secondary Mortgages
3,451,000 Only borrowed from firm(s)
20,000 Only borrowed from seller
23,000 Only borrowed from other individual(s)
5,000 Borrowed from a firm and seller
2,000 Borrowed from a firm and other individual
- Borrowed from seller and other individual
432,000 One or both sources not reported
Items Included in Primary Mortgage Payment2
1,001,000 Principal and interest only
2,237,000 Property taxes
2,182,000 Property insurance
848,000 Private mortgage insurance
82,000 Other
517,000 Not reported
Year Primary Mortgage Originated
709,000 2000 to 2004
1,785,000 1995 to 1999
527,000 1990 to 1994
359,000 1985 to 1989
138,000 1980 to 1984
188,000 1975 to 1979
123,000 1970 to 1974
105,000 1960 to 1969
- 1950 to 1959
- 1949 or earlier
1996 Median
Term of Primary Mortgage at Origination or
Assumption
90,000 Less than 8 years
127,000 8 to 12 years
444,000 13 to 17 years
274,000 18 to 22 years
113,000 23 to 27 years
2,640,000 28 to 32 years
155,000 33 years or more
90,000 Variable
30 Median
Remaining Years Mortgaged
678,000 Less than 8 years
419,000 8 to 12 years
482,000 13 to 17 years
367,000 18 to 22 years
934,000 23 to 27 years
935,000 28 to 32 years
2,000 33 years or more
116,000 Variable
23 Median
Current Interest Rate
114,000 Less than 6 percent
2,133,000 6 to 7.9 percent
1,250,000 8 to 9.9 percent
257,000 10 to 11.9 percent
110,000 12 to 13.9 percent
41,000 14 to 15.9 percent
8,000 16 to 17.9 percent
21,000 18 to 19.9 percent
- 20 percent or more
... Not reported
7.7 Median
Total Outstanding Principal Amount
590,000 Less than $10,000
306,000 $10,000 to $19,999
380,000 $20,000 to $29,999
362,000 $30,000 to $39,999
374,000 $40,000 to $49,999
291,000 $50,000 to $59,999
251,000 $60,000 to $69,999
249,000 $70,000 to $79,999
338,000 $80,000 to $99,999
244,000 $100,000 to $119,999
210,000 $120,000 to $149,999
185,000 $150,000 to $199,999
79,000 $200,000 to $249,999
40,000 $250,000 to $299,999
35,000 $300,000 or more
... Not reported
$48,793 Median
Current Total Loan as Percent of Value
717,000 Less than 20 percent
566,000 20 to 39 percent
789,000 40 to 59 percent
946,000 60 to 79 percent
440,000 80 to 89 percent
309,000 90 to 99 percent
166,000 100 percent or more
... Not reported
57.3 Median
Reason Primary Mortgage Refinanced
645,000 Units with a refinanced primary Mortgage2
439,000 To get lower interest rate
21,000 To increase payment period
78,000 To reduce payment period
10,000 To renew or extend a loan that has fallen due
137,000 To receive cash
127,000 Other reason
Cash Received in Primary Mortgage Refinance
137,000 Received refinance cash
26,000 Less than $10,000
18,000 $10,000 to $19,999
13,000 $20,000 to $29,999
11,000 $30,000 to $39,999
8,000 $40,000 to $49,999
6,000 $50,000 to $59,999
8,000 $60,000 to $69,999
2,000 $70,000 to $79,999
2,000 $80,000 to $99,999
- $100,000 to $119,999
- $120,000 to $149,999
6,000 $150,000 or more
37,000 Not reported
$24,346 Median
Percent of Primary Mortgage Refinanced Cash Used for Home Additions, Improvements, or Repairs
137,000 Received refinanced cash
55,000 Zero percent
5,000 1 to 9 percent
8,000 10 to 19 percent
7,000 20 to 29 percent
2,000 30 to 39 percent
8,000 40 to 49 percent
5,000 50 to 59 percent
2,000 60 to 69 percent
2,000 70 to 79 percent
- 80 to 89 percent
2,000 90 to 99 percent
23,000 100 percent
19,000 Not reported
8.7 Median
Percent of Nonrefinanced Primary Mortgage, Including Home-Equity Lump-Sum,
Used for Home Purchase and Improvement
2,896,000 Units with a nonrefinanced primary mortgage
369,000 Zero percent
15,000 1 to 9 percent
18,000 10 to 19 percent
7,000 20 to 29 percent
- 30 to 39 percent
- 40 to 49 percent
20,000 50 to 59 percent
2,000 60 to 69 percent
7,000 70 to 79 percent
21,000 80 to 89 percent
33,000 90 to 99 percent
2,144,000 100 percent
260,000 Not reported
100.0 Median
Owners With One or More Home-Equity Line-of-Credit Mortgages
310,000 Total
Total Home-Equity Line-of-Credit Limit
36,000 Less than $10,000
54,000 $10,000 to $19,999
33,000 $20,000 to $29,999
18,000 $30,000 to $39,999
16,000 $40,000 to $49,999
33,000 $50,000 to $59,999
13,000 $60,000 to $69,999
8,000 $70,000 to $79,999
2,000 $80,000 to $99,999
- $100,000 to $119,999
3,000 $120,000 to $149,999
2,000 $150,000 or more
92,000 Not reported
$25,936 Median
Total Outstanding Line-of-Credit Loans
121,000 Outstanding loan(s)
21,000 Less than $10,000
39,000 $10,000 to $19,999
7,000 $20,000 to $29,999
21,000 $30,000 to $39,999
17,000 $40,000 to $49,999
3,000 $50,000 to $59,999
- $60,000 to $69,999
- $70,000 to $79,999
- $80,000 to $99,999
- $100,000 to $119,999
- $120,000 to $149,999
- $150,000 or more
13,000 Not reported
$18,430 Median
Current Line-of-Credit Interest Rate
121,000 Outstanding loans
3,000 Less than 6 percent
46,000 6 to 7.9 percent
21,000 8 to 9.9 percent
11,000 10 to 11.9 percent
3,000 12 to 13.9 percent
5,000 14 to 15.9 percent
- 16 to 17.9 percent
2,000 18 to 19.9 percent
2,000 20 percent or more
28,000 Not reported
7.9 Median
Line-of-Credit Monthly Payment
121,000 Outstanding loan(s)
6,000 Less than $100
26,000 $100 to $199
10,000 $200 to $249
11,000 $250 to $299
14,000 $300 to $349
10,000 $350 to $399
5,000 $400 to $449
- $450 to $499
7,000 $500 to $599
6,000 $600 to $699
2,000 $700 to $799
2,000 $800 to $999
6,000 $1,000 or more
16,000 Not reported
$296 Median
Line-of-Credit Amount Used for Home Additions, Improvements, or Repairs
121,000 Outstanding loan(s)
73,000 Yes
48,000 No
- Not reported
1 Regular mortgages include all mortgages not classified as home equity or reverse.
2 Figures may not add to total because more than one category may apply to a unit.
Contact the American Housing Survey Branch by email or by phone at 301-763-3235 or 1-888-518-7365, or visit ask.census.gov for further information on American Housing Survey Data.
Source: U.S. Census Bureau, Housing and Household Economic Statistics Division
Last Revised: February 18, 2005
