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Residential Finance Survey - Detailed Regional Tables: 2001

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Residential Finance Survey: 2001 - South
Table 4-3d. Mortgage Insurance Status, 1-Housing-Unit Rental and Vacant Mortgaged Properties
^Number of mortgaged properties in thousands. For information on confidentiality protection, sampling error, non-
sampling error, and definitions, see text. For minimum base of derived figures (percent, median, etc.) and meaning
of symbols, see text. @4Includes first mortgages that are insured by state and local governments with or without FHA
insurance, VA, or Rural Housing Service/Rural Development guarantees. Monthly Rental Receipts, Rental Receipts as
Percent of Value, Rental Vacancy Losses as Percent of Potential Receipts, Interest and Principal Payments on First
Mortgage as Percent of Rental Receipts and Real Estate Tax as Percent of Rental Receipts acquired before 2000 exclude
properties with less than half of units in rental market during all of year preceding survey and cooperatively owned
apartments^^
Properties with government-insured
or guaranteed first mortgage
Total
mortgaged
properties		 FHA
first mortgage		 VA
first mortgage		 Rural Housing Service-
Rural Development
first mortgage		 Other
insured or guaranteed
properties@4		 Properties with
privately-insured
first mortgage		 Not insured

1-housing-unit properties with
traditional first mortgage		 1527 108 50 66 91 115 1098

PROPERTY CHARACTERISTICS


Property Location by Geographic Area

Inside MAs		 1201 94 43 31 61 90 882
In central cities 454 58 13 12 19 7 346
Not in central cities 747 36 30 19 42 83 536
Outside MAs 326 15 7 35 30 25 216

Manner of Acquisition

By purchase		 1390 97 50 60 81 108 995
Placed one new mortgage 1257 91 22 60 81 90 914
Placed two or more new mortgages 24 6 0 0 0 7 11
Assumed mortgage(s) already on property 96 0 28 0 0 11 57
Assumed mortgage(s) already on property
and placed new mortgage		 0 0 0 0 0 0 0
Borrowed using assets other than this
property as collateral		 0 0 0 0 0 0 0
Paid all cash-no borrowing 7 0 0 0 0 0 7
Other manner 5 0 0 0 0 0 5
By inheritance or gift 41 0 0 6 0 0 35
By divorce 6 0 0 0 0 0 6
By tax free exchange of
other property		 0 0 0 0 0 0 0
By foreclosure or assignment 7 0 0 0 0 0 7
By some other manner 20 0 0 0 0 0 20
Not reported 63 11 0 0 10 7 36

Source of Downpayment@1

Properties purchased
1995 to 2001 (part)		 747 49 12 39 31 70 546
Sale of stock or other partnership
shares for this project		 2 0 0 0 0 0 2
Sale of previously owned stocks,
shares, or other securities		 7 0 0 0 0 0 7
Sale of land or other real estate 64 0 0 0 0 0 64
Owner's cash, bank deposits,
share accounts, or bonds		 404 29 7 19 15 33 301
Borrowing from a retirement plan 18 0 0 0 0 0 18
Borrowing using assets other than this
property as collateral		 30 0 6 0 0 0 24
Proceeds from an insurance policy 0 0 0 0 0 0 0
From a state or local government source 0 0 0 0 0 0 0
From a non-profit organization 0 0 0 0 0 0 0
Proceeds from sale of tax credits 0 0 0 0 0 0 0
From parents or relatives 47 14 0 0 0 5 27
Other cash source 30 0 0 0 0 0 30
Non-cash source 18 7 0 0 0 0 11
No downpayment required 107 0 0 6 9 11 81
Not reported 68 5 0 13 8 20 22
Other properties 737 49 37 27 50 45 529
Not reported 44 11 0 0 10 0 24

Year Property Acquired

1999 to 2001 (part)		 408 15 6 26 29 37 294
1997 and 1998 217 20 7 6 7 12 165
1995 and 1996 195 24 0 6 4 21 140
1990 to 1994 286 16 12 14 20 20 204
1985 to 1989 217 4 6 0 22 7 178
1980 to 1984 102 29 9 0 8 18 38
1975 to 1979 55 0 5 8 0 0 42
1970 to 1974 30 0 6 0 0 0 24
1969 or earlier 18 0 0 6 0 0 13

Building and Land Acquisition

Acquired at same time		 1355 95 50 53 91 108 959
Not acquired at same time 96 0 0 0 0 0 96
Land not owned by building owner 13 0 0 0 0 0 13
Not reported 63 13 0 13 0 7 30

Property New or Previously Owned When
Acquired

Acquired by purchase		 1390 97 50 60 81 108 995
New 260 0 0 0 13 20 228
Previously owned 1083 93 50 60 56 83 742
As residential property 1083 93 50 60 56 83 742
Converted from nonresidential use 0 0 0 0 0 0 0
Other 8 0 0 0 0 5 2
Not reported 40 5 0 0 13 0 23
Other properties 74 0 0 6 0 0 68
Not reported 63 11 0 0 10 7 36

Year Structure Built

1999 to March 2000		 43 0 0 0 0 12 30
1997 and 1998 70 11 0 7 0 6 46
1995 and 1996 56 5 0 0 4 0 47
1990 to 1994 138 0 0 0 0 7 131
1980 to 1989 254 8 12 8 16 35 176
1970 to 1979 302 23 32 19 33 11 183
1960 to 1969 211 15 5 32 20 20 119
1950 to 1959 256 26 0 0 18 6 206
1940 to 1949 88 8 0 0 0 10 70
1939 or earlier 110 12 0 0 0 6 91

Purchase Price

Properties acquired by
purchase 1997 to 2001 (part)		 566 29 12 32 31 49 413
Less than $20,000 39 0 0 0 0 4 35
$20,000 to $39,999 137 7 7 13 6 6 99
$40,000 to $59,999 84 8 6 7 0 0 63
$60,000 to $79,999 85 0 0 0 8 6 71
$80,000 to $99,999 58 0 0 0 7 14 37
$100,000 to $124,999 45 0 0 0 3 7 35
$125,000 to $149,999 58 9 0 13 7 5 23
$150,000 to $174,999 0 0 0 0 0 0 0
$175,000 to $199,999 15 0 0 0 0 0 15
$200,000 to $249,999 23 5 0 0 0 5 12
$250,000 to $299,999 12 0 0 0 0 0 12
$300,000 to $499,999 11 0 0 0 0 0 11
$500,000 or more 0 0 0 0 0 0 0
Median 65370 58809 39023 50418 86179 90701 62578
Mean 82670 96835 42435 79719 84081 90041 82151
Other properties 961 80 37 33 60 66 685

Value

Less than $20,000		 59 6 0 8 0 4 41
$20,000 to $39,999 163 14 0 13 11 20 105
$40,000 to $59,999 236 14 21 12 9 0 179
$60,000 to $79,999 339 32 12 7 20 6 262
$80,000 to $99,999 192 6 12 13 7 33 121
$100,000 to $124,999 195 14 0 0 22 28 132
$125,000 to $149,999 73 0 0 13 13 7 40
$150,000 to $174,999 79 17 5 0 0 11 46
$175,000 to $199,999 28 0 0 0 0 0 28
$200,000 to $249,999 77 5 0 0 8 5 59
$250,000 to $299,999 33 0 0 0 0 0 33
$300,000 to $499,999 50 0 0 0 0 0 50
$500,000 or more 4 0 0 0 0 0 4
Median 78024 72472 65869 60593 93250 96447 77111
Mean 99676 85778 72461 67889 99046 93839 104846

Purchase Price as Percent of Value@8

Acquired by purchase		 1390 97 50 60 81 108 995
Purchased 1997 to 2001 (part) 566 29 12 32 31 49 413
Less than 60 percent 70 0 7 0 6 0 58
60 to 69 percent 66 0 0 7 0 6 53
70 to 79 percent 91 8 0 6 0 0 76
80 to 99 percent 172 14 0 0 15 18 126
100 percent or more 167 7 6 19 10 25 100
Median 87 89 57 1560 93 315 83
Purchased 1990 to 1996 (part) 442 36 12 14 20 34 327
Less than 40 percent 39 0 0 0 6 0 33
40 to 59 percent 74 6 0 8 14 12 34
60 to 79 percent 142 8 0 0 0 7 126
80 to 99 percent 123 21 12 0 0 7 83
100 percent or more 65 0 0 6 0 8 51
Median 75 83 90 58 46 73 75
Purchased 1989 or earlier 381 33 26 13 30 25 255
Less than 20 percent 15 0 0 6 0 0 9
20 to 39 percent 28 4 0 0 0 0 24
40 to 59 percent 109 7 11 0 0 12 78
60 to 79 percent 115 16 0 8 25 7 61
80 to 99 percent 83 0 14 0 5 0 64
100 percent or more 31 6 0 0 0 6 19
Median 67 66 82 63 72 61 65
Not acquired by purchase 137 11 0 6 10 7 104

Value of Capital Improvements

Properties with capital
improvements between 1998
and 2000		 577 46 24 20 38 32 417
Less than $500 14 0 0 0 0 7 7
$500 to $999 25 0 6 0 0 0 19
$1,000 to $2,499 122 32 0 6 13 6 64
$2,500 to $4,999 136 6 12 8 0 7 103
$5,000 to $7,499 113 0 7 6 12 0 88
$7,500 to $9,999 29 0 0 0 7 0 21
$10,000 to $14,999 40 7 0 0 0 0 33
$15,000 to $19,999 28 0 0 0 0 6 22
$20,000 to $29,999 45 0 0 0 6 0 40
$30,000 or more 25 0 0 0 0 5 19
Median 4858 2071 3850 3772 6280 3479 5425
Mean 9069 3150 3675 3361 6815 9175 10502
Properties with no capital
improvements between 1998 and 2000		 646 31 26 27 25 32 505
Capital improvements not
reported		 305 31 0 19 27 51 177

Monthly Rental Receipts

Acquired before 2000		 1288 99 50 46 72 90 932
Less than $100 67 6 0 14 0 0 47
$100 to $199 31 0 0 0 5 0 26
$200 to $299 65 16 7 0 0 0 42
$300 to $399 141 22 5 6 14 8 86
$400 to $499 149 5 21 6 11 5 102
$500 to $599 149 4 0 0 0 13 131
$600 to $799 222 12 13 12 15 12 158
$800 to $999 128 21 0 0 7 14 86
$1000 or more 246 13 5 0 5 25 198
No rental receipts 89 0 0 8 14 12 55
Median 598 523 463 379 488 807 605
Mean 737 649 542 309 462 697 803
Acquired 2000 and 2001 (part) 240 9 0 20 19 25 167

Rental Receipts as Percent of Value@8

Acquired before 2000		 1288 99 50 46 72 90 932
Less than 5 percent 64 0 0 0 22 5 37
5 to 9 percent 348 38 23 0 19 18 249
10 to 14 percent 641 55 20 18 16 46 486
15 to 19 percent 45 0 7 6 0 8 24
20 to 24 percent 5 0 0 0 0 0 5
25 to 29 percent 9 0 0 0 0 0 9
30 to 39 percent 0 0 0 0 0 0 0
40 percent or more 20 0 0 0 0 0 20
Median 11 11 11 13 7 12 11
Acquired 2000 and 2001 (part) 240 9 0 20 19 25 167

Rental Vacancy Losses as Percent of
Potential Receipts

Acquired before 2000		 1288 99 50 46 72 90 932
Less than 1.0 percent 392 25 31 0 27 19 289
1.0 to 2.9 percent 0 0 0 0 0 0 0
3.0 to 4.9 percent 0 0 0 0 0 0 0
5.0 to 6.9 percent 14 0 0 0 0 0 14
7.0 to 8.9 percent 38 0 0 0 0 0 38
9.0 to 10.9 percent 14 0 0 0 0 0 14
11.0 to 12.9 percent 6 0 0 0 0 0 6
13.0 to 14.9 percent 13 0 0 0 0 0 13
15.0 percent or more 136 0 7 12 5 7 105
Not reported or not computed 674 74 12 34 40 64 452
Median 0.8 0.5 0.6 57.5 0.6 0.7 0.8
Acquired 2000 and 2001 (part) 240 9 0 20 19 25 167

Age Restrictions

Property restricted to people
age 55 or older		 130 10 0 0 18 0 102
Property not restricted to people
age 55 or older		 1282 82 50 47 66 101 936
Not reported 116 16 0 18 8 14 60

Type of Property Benefits@1

Government-sponsored below-market
interest rate mortgage loan		 9 0 9 0 0 0 0
Government rental subsidy 19 0 0 6 0 0 13
Government grant 13 6 0 0 0 0 7
Property tax relief 4 0 0 0 0 0 4
Federal income tax credit for
low-income, old or historic properties		 0 0 0 0 0 0 0
Accelerated federal income tax
depreciation for low- and
moderate-income properties		 0 0 0 0 0 0 0
Subsidy from a non-profit corporation 0 0 0 0 0 0 0
None of the above benefits 1277 73 35 53 83 88 945
Not reported 207 30 6 6 8 27 130

Source of Property Benefits@1

With property benefits		 44 6 9 6 0 0 23
Federal government 27 6 9 6 0 0 7
State government 10 0 0 6 0 0 4
Local government 23 0 0 6 0 0 16
Non-profit corporation 0 0 0 0 0 0 0
Not reported 0 0 0 0 0 0 0
With no property benefits 1277 73 35 53 83 88 945
Not reported 207 30 6 6 8 27 130

Reason for Benefits@1

With property benefits		 44 6 9 6 0 0 23
Occupied by low- or moderate-income
individuals		 24 6 0 6 0 0 13
Occupied by elderly or disabled
individuals		 0 0 0 0 0 0 0
A historic structure 0 0 0 0 0 0 0
Located in a community development or
economic development area		 0 0 0 0 0 0 0
Covered by a Homestead Exemption 0 0 0 0 0 0 0
Covered by a Community Land Trust 0 0 0 0 0 0 0
Covered by disaster relief 0 0 0 0 0 0 0
Other reason 19 0 9 0 0 0 11
Not reported 0 0 0 0 0 0 0
With no property benefits 1277 73 35 53 83 88 945
Not reported 207 30 6 6 8 27 130

OWNER CHARACTERISTICS


Type of Owner

Individual investor(s)		 1257 80 44 60 54 115 903
Limited partnership 91 6 6 6 12 0 61
Joint venture 12 0 0 0 6 0 6
General partnership 16 0 0 0 0 0 16
Life insurance company 11 11 0 0 0 0 0
Depository institution 0 0 0 0 0 0 0
Public real estate investment trust 7 0 0 0 0 0 7
Private real estate investment trust 0 0 0 0 0 0 0
Corporation - other than real estate
investment trust		 95 0 0 0 15 0 80
Housing cooperative organization 5 5 0 0 0 0 0
Non-profit or church-related institution 28 0 0 0 3 0 25
Pension fund 0 0 0 0 0 0 0
Fraternal organization 0 0 0 0 0 0 0
Other 7 7 0 0 0 0 0

MORTGAGE CHARACTERISTICS


Number of Mortgages

1 mortgage		 1399 108 50 60 76 102 1002
2 mortgages 119 0 0 6 14 12 87
3 or more mortgages 10 0 0 0 0 0 10

Form of Debt of First Mortgage

Mortgage or deed of trust		 1527 108 50 66 91 115 1098
Contract to purchase 0 0 0 0 0 0 0
Some other loan secured by this property 0 0 0 0 0 0 0

Method of Loan Application

By computer over the Internet or
by e-mail		 7 0 0 0 0 0 7
By telephone or FAX 195 6 6 13 25 12 134
By regular mail 49 8 7 0 0 6 29
By personal visit 850 62 10 28 45 44 661
Through third party (such as real
estate agent or builder)		 162 10 6 0 13 15 118
Some other way 31 7 0 0 0 14 10
Not reported 150 16 6 19 8 18 84
Not available 83 0 16 6 0 6 56

Origin of First Mortgage

Mortgage made at time property acquired		 1166 88 17 60 84 90 827
Mortgage assumed at the time property
acquired		 119 0 28 6 0 11 74
Mortgage placed later than acquisition of
property		 242 20 5 0 7 13 198
Refinanced mortgage 229 20 5 0 7 13 185
Same lender 48 0 0 0 0 7 42
Different lender 181 20 5 0 7 6 143
Mortgage placed on property
owned free and clear of debt		 13 0 0 0 0 0 13
Not available 0 0 0 0 0 0 0

Purpose of First Mortgage Placed
Later Than Acquisition of Property

Properties on which
mortgages placed later
than acquisition of property		 242 20 5 0 7 13 198
Obtain lower interest rate 163 7 5 0 7 13 131
Increase payment period for mortgage 0 0 0 0 0 0 0
Reduce payment period for mortgage 0 0 0 0 0 0 0
Renew or extend loan that had fallen
due, without increasing outstanding
balance		 0 0 0 0 0 0 0
Receive cash or increase outstanding
balance of loan		 53 13 0 0 0 0 40
Other reason 27 0 0 0 0 0 27
Not reported 0 0 0 0 0 0 0
Other properties 1285 88 45 66 84 102 901
Not available 0 0 0 0 0 0 0

Cash Received From Refinancing or
Placing Mortgage on Property Owned
Free and Clear

Properties on which cash
received		 95 13 5 0 7 6 64
Less than $20,000 57 13 5 0 0 0 40
$20,000 to $39,999 19 0 0 0 7 0 12
$40,000 to $59,999 7 0 0 0 0 0 7
$60,000 to $79,999 12 0 0 0 0 6 6
$80,000 to $99,999 0 0 0 0 0 0 0
$100,000 to $124,999 0 0 0 0 0 0 0
$125,000 to $149,999 0 0 0 0 0 0 0
$150,000 to $174,999 0 0 0 0 0 0 0
$175,000 to $199,999 0 0 0 0 0 0 0
$200,000 to $249,999 0 0 0 0 0 0 0
$250,000 to $299,999 0 0 0 0 0 0 0
$300,000 or more 0 0 0 0 0 0 0
Median 16554 10000 10000 0 30000 70000 16241
Mean 22608 15987 2000 0 30000 70000 20271
Properties that refinanced
and did not receive cash back		 117 7 0 0 0 7 103
Properties that refinanced
and did not report if received
cash back		 31 0 0 0 0 0 31
Properties that did not
refinance		 1285 88 45 66 84 102 901
Not available 0 0 0 0 0 0 0

Use of Cash From Refinancing or
Placing Mortgage on Property Owned Free
and Clear

Properties on which cash
received@1		 95 13 5 0 7 6 64
For additions, improvements or repairs
to this property		 13 0 0 0 0 0 13
To consolidate debts 32 6 5 0 0 0 21
For investment in other real estate 24 6 0 0 0 0 18
For other types of investments 6 0 0 0 0 0 6
For educational or medical expenses 7 0 0 0 0 0 7
To start a business 0 0 0 0 0 0 0
To settle a divorce 0 0 0 0 0 0 0
To pay taxes 0 0 0 0 0 0 0
To purchase an automobile, truck, or
other vehicle		 0 0 0 0 0 0 0
To purchase consumer product other than
automobile, truck, or other vehicle		 0 0 0 0 0 0 0
Other 28 0 0 0 7 6 15
Not reported 0 0 0 0 0 0 0
Properties that refinanced
and did not receive cash back		 117 7 0 0 0 7 103
Properties that refinanced
and did not report if received
cash back		 31 0 0 0 0 0 31
Properties that did not
refinance		 1285 88 45 66 84 102 901
Not available 0 0 0 0 0 0 0

Purpose of Second Mortgage

Properties with second
mortgage		 92 0 0 0 14 12 66
Provide funds for the purchase of this
property		 14 0 0 0 0 7 7
Provide funds for additions,
improvements or repairs to this
property		 40 0 0 0 14 5 20
Provide funds for consolidation of debts 21 0 0 0 0 0 21
Provide funds for investment in other
real estate		 0 0 0 0 0 0 0
Provide funds for other types of
investments		 0 0 0 0 0 0 0
Provide funds for educational or
medical expenses		 0 0 0 0 0 0 0
Provide funds for starting a business 0 0 0 0 0 0 0
Provide funds to settle a divorce 0 0 0 0 0 0 0
Provide funds to pay taxes 0 0 0 0 0 0 0
Provide funds to purchase automobile,
truck, or vehicle		 0 0 0 0 0 0 0
Provide funds to purchase another type
of consumer product		 0 0 0 0 0 0 0
Other reasons 7 0 0 0 0 0 7
Not reported 10 0 0 0 0 0 10
Other properties 1435 108 50 66 76 102 1033

Purpose of Home Equity Line of Credit

Properties with home equity
line of credit		 46 0 0 6 0 0 41
Provide funds for additions,
improvements or repairs to this
property		 11 0 0 6 0 0 5
Provide funds for consolidation of debts 0 0 0 0 0 0 0
Provide funds for investment in other
real estate		 6 0 0 0 0 0 6
Provide funds for other types of
investments		 0 0 0 0 0 0 0
Provide funds for educational or
medical expenses		 0 0 0 0 0 0 0
Provide funds for starting a business 0 0 0 0 0 0 0
Provide funds to settle a divorce 0 0 0 0 0 0 0
Provide funds to pay taxes 0 0 0 0 0 0 0
Provide funds to purchase automobile,
truck, or vehicle		 0 0 0 0 0 0 0
Provide funds to purchase another type
of consumer product		 0 0 0 0 0 0 0
Other reasons 7 0 0 0 0 0 7
Not reported 22 0 0 0 0 0 22
Other properties 1481 108 50 60 91 115 1057

Year First Mortgage Made or
Assumed

1999 to 2001 (part)		 570 29 6 26 29 43 436
1997 and 1998 244 34 7 6 14 12 170
1995 and 1996 191 18 0 6 4 21 141
1990 to 1994 245 8 12 14 20 26 166
1985 to 1989 147 4 6 0 15 7 115
1980 to 1984 50 15 9 0 8 5 14
1979 or earlier 81 0 11 13 0 0 56

Traditional First Mortgage Loan

Less than $20,000		 162 6 6 13 6 18 113
$20,000 to $29,999 186 18 5 19 17 6 120
$30,000 to $39,999 175 24 7 6 10 0 129
$40,000 to $49,999 118 0 16 15 8 5 75
$50,000 to $59,999 193 35 0 0 14 27 117
$60,000 to $79,999 232 0 6 0 12 26 188
$80,000 to $99,999 145 15 0 0 7 21 101
$100,000 to $149,999 146 5 0 13 16 5 106
$150,000 to $199,999 54 0 5 0 0 5 43
$200,000 to $249,999 50 0 0 0 0 0 50
$250,000 to $299,999 5 0 0 0 0 0 5
$300,000 or more 7 0 0 0 0 0 7
Not reported 55 5 6 0 0 0 44
Median 54911 51026 42602 31289 53486 60349 57738
Mean 66669 51080 52953 42226 61947 65767 70803

Total Mortgage Loan

Less than $20,000		 162 6 6 13 6 18 113
$20,000 to $29,999 184 18 5 19 17 6 118
$30,000 to $39,999 175 24 7 6 10 0 129
$40,000 to $49,999 110 0 16 15 8 5 67
$50,000 to $59,999 181 35 0 0 0 27 119
$60,000 to $79,999 237 0 6 0 12 26 193
$80,000 to $99,999 145 15 0 0 7 21 101
$100,000 to $149,999 168 5 0 13 31 5 115
$150,000 to $199,999 48 0 5 0 0 0 43
$200,000 to $249,999 46 0 0 0 0 5 41
$250,000 to $299,999 5 0 0 0 0 0 5
$300,000 or more 16 0 0 0 0 0 16
Not reported 49 5 6 0 0 0 39
Median 55937 51026 42602 31289 68034 60349 58674
Mean 69695 51080 52953 42226 69742 67545 74142

Traditional First Mortgage Outstanding
Debt

Less than $10,000		 114 10 11 13 6 6 67
$10,000 to $19,999 114 0 0 0 4 12 98
$20,000 to $29,999 247 38 15 19 23 6 146
$30,000 to $39,999 160 0 13 6 8 5 128
$40,000 to $49,999 138 8 0 15 14 14 88
$50,000 to $59,999 165 28 0 0 0 19 118
$60,000 to $79,999 204 0 6 0 12 34 152
$80,000 to $99,999 136 15 0 13 7 7 94
$100,000 to $149,999 120 5 5 0 16 5 89
$150,000 to $199,999 41 0 0 0 0 5 36
$200,000 to $249,999 27 0 0 0 0 0 27
$250,000 to $299,999 12 0 0 0 0 0 12
$300,000 or more 0 0 0 0 0 0 0
Not reported 49 5 0 0 0 0 44
Median 47568 44731 28933 31289 43486 57115 50037
Mean 59459 46612 39443 39772 55532 61114 63056

Total Mortgage Outstanding Debt

Less than $10,000		 114 10 11 13 6 6 67
$10,000 to $19,999 114 0 0 0 4 12 98
$20,000 to $29,999 245 38 15 19 23 6 144
$30,000 to $39,999 160 0 13 6 8 5 128
$40,000 to $49,999 125 8 0 15 0 14 89
$50,000 to $59,999 165 28 0 0 0 19 118
$60,000 to $79,999 204 0 6 0 26 27 145
$80,000 to $99,999 148 15 0 13 7 13 99
$100,000 to $149,999 129 5 5 0 16 5 97
$150,000 to $199,999 39 0 0 0 0 5 33
$200,000 to $249,999 20 0 0 0 0 0 20
$250,000 to $299,999 12 0 0 0 0 0 12
$300,000 or more 9 0 0 0 0 0 9
Not reported 43 5 0 0 0 0 39
Median 48693 44731 28933 31289 63733 57115 50289
Mean 60297 44638 39443 39772 59861 62441 63828

Current Interest Rate on First Mortgage

Less than 6.0 percent		 644 15 5 40 50 47 487
6.0 percent 15 0 0 0 0 0 15
6.1 to 6.4 percent 23 9 0 0 0 0 14
6.5 to 6.9 percent 29 0 0 0 0 5 23
7.0 percent 71 22 0 0 14 7 28
7.1 to 7.4 percent 71 0 6 0 0 6 59
7.5 to 7.9 percent 51 7 0 0 0 12 32
8.0 percent 74 8 7 0 4 6 49
8.1 to 8.4 percent 35 0 0 0 0 4 31
8.5 to 8.9 percent 39 4 6 0 0 0 29
9.0 percent 22 0 0 0 0 6 16
9.1 to 9.4 percent 67 16 0 6 0 0 44
9.5 to 9.9 percent 39 6 18 0 0 0 14
10.0 percent 14 0 0 0 0 0 14
10.1 to 10.4 percent 15 15 0 0 0 0 0
10.5 to 10.9 percent 5 0 0 0 0 0 5
11.0 percent 26 0 0 0 6 6 13
11.1 to 12.9 percent 29 0 9 0 6 0 15
13.0 percent 0 0 0 0 0 0 0
13.1 percent or more 259 6 0 19 11 14 209
Not reported 0 0 0 0 0 0 0
Median 7.1 8.0 9.6 4.9 5.4 7.1 7.0

Type of Interest Rate Buydown

Properties with interest rate
buydown		 25 0 7 0 0 5 13
Constant payment 0 0 0 0 0 0 0
3-2-1 buydown 0 0 0 0 0 0 0
Other 5 0 0 0 0 5 0
Not reported 20 0 7 0 0 0 13
Properties without interest
rate buydown		 491 27 32 6 6 42 378
Not reported 1011 82 12 59 85 67 707

Term of First Mortgage

Less than 5 years		 13 0 0 0 0 4 9
5 years 27 0 0 0 0 0 27
6 to 9 years 16 0 0 0 0 0 16
10 years 28 0 0 0 0 0 28
11 to 14 years 6 0 0 0 0 0 6
15 years 95 8 0 0 0 0 87
16 to 19 years 4 0 0 0 0 0 4
20 years 24 0 0 0 0 0 24
21 to 24 years 5 0 0 0 0 0 5
25 years 10 0 0 0 0 0 10
26 to 29 years 9 0 0 0 0 0 9
30 years 388 100 50 0 10 43 185
More than 30 years 18 0 0 6 0 0 12
No stated term 885 0 0 59 81 67 678
Median 30 30 31 65 31 30 26

Unexpired Term of First Mortgage

Less than 5 years		 53 0 6 0 0 4 43
5 to 9 years 82 0 14 0 0 0 68
10 to 14 years 115 23 0 0 0 0 91
15 to 19 years 76 4 25 0 0 0 47
20 to 24 years 67 12 5 0 4 13 33
25 to 29 years 202 54 0 0 6 30 112
30 or more years 47 15 0 6 0 0 26
No stated term or not computed 885 0 0 59 81 67 678
Median 20 26 16 65 26 26 16

Holder of First Mortgage

Commercial bank or trust company		 329 20 0 0 35 19 256
Savings and loan association, federal
savings bank		 152 0 0 15 9 7 121
Mutual savings bank 9 0 9 0 0 0 0
Life insurance company 30 0 0 0 8 0 22
Mortgage banker or mortgage company 74 13 0 0 0 19 42
Federally-sponsored secondary market
agency or pool		 631 58 30 32 23 63 426
Conventional mortgage pool 14 0 0 0 0 0 14
Other federal agency 59 0 6 6 4 0 43
Real estate investment trust 0 0 0 0 0 0 0
Pension or retirement fund 0 0 0 0 0 0 0
Credit union 72 5 6 6 0 0 56
Finance company 23 5 0 6 0 0 12
State or municipal government or
housing finance agency		 71 8 0 0 5 7 52
Individual or individual's estate 37 0 0 0 0 0 37
Other 26 0 0 0 8 0 19

Servicer of First Mortgage

Commercial bank or trust company		 365 20 7 0 35 19 284
Savings and loan association, federal
savings bank		 147 0 0 15 3 7 121
Mutual savings bank 0 0 0 0 0 0 0
Life insurance company 30 0 0 0 8 0 22
Mortgage banker or mortgage company 709 71 38 32 33 76 459
Federally-sponsored secondary market
agency or pool		 0 0 0 0 0 0 0
Conventional mortgage pool 0 0 0 0 0 0 0
Other federal agency 49 0 0 6 0 0 43
Real estate investment trust 0 0 0 0 0 0 0
Pension or retirement fund 0 0 0 0 0 0 0
Credit union 77 5 6 6 0 5 56
Finance company 23 5 0 6 0 0 12
State or municipal government or
housing finance agency		 71 8 0 0 5 7 52
Individual or individual's estate 37 0 0 0 0 0 37
Other 21 0 0 0 8 0 13

Holder's Acquisition of First Mortgage

Originated directly from borrower		 770 52 6 33 26 58 595
Purchased from present servicer 455 36 6 33 60 37 284
Purchased from someone else 302 20 38 0 5 19 220
Not reported 0 0 0 0 0 0 0

First Mortgage Loan as a Percent of
Purchase Price

Properties acquired by
purchase with first mortgage
made or assumed at time of
purchase 		1163 77 45 60 74 95 812
Less than 40 percent 16 0 6 0 0 0 10
40 to 49 percent 14 0 0 0 0 0 14
50 to 59 percent 27 0 0 0 0 7 20
60 to 69 percent 163 36 0 25 14 8 81
70 to 79 percent 102 15 5 0 15 6 60
80 to 89 percent 211 9 9 0 7 18 167
90 to 94 percent 66 0 0 0 0 26 41
95 to 99 percent 99 12 0 6 10 0 70
100 percent or more 433 4 19 28 28 31 323
Not reported 31 0 6 0 0 0 25
Median 92 72 89 99 95 92 95
Other properties 364 31 5 6 17 20 286
Not available 0 0 0 0 0 0 0

First Mortgage Loan as a Percent
of Value

Properties acquired by
purchase with first mortgage
made or assumed at time of
purchase		 1163 77 45 60 74 95 812
Less than 40 percent 0 0 0 0 0 0 0
40 to 49 percent 18 0 0 0 0 4 14
50 to 59 percent 30 0 0 0 0 0 30
60 to 69 percent 277 38 11 25 22 15 167
70 to 79 percent 113 15 15 0 7 6 70
80 to 89 percent 261 18 7 0 7 38 192
90 to 94 percent 39 0 0 0 0 14 25
95 to 99 percent 78 7 0 6 10 0 55
100 percent or more 314 0 7 28 28 18 233
Not reported 31 0 6 0 0 0 25
Median 85 71 76 99 95 86 86
Other properties 364 31 5 6 17 20 286
Not available 0 0 0 0 0 0 0

First Mortgage Risk

Subprime loan		 124 15 0 6 15 8 81
Not subprime loan 1403 93 50 60 76 107 1017
Not reported 0 0 0 0 0 0 0

Total Mortgage Loan as a Percent of
Purchase Price

Properties acquired by purchase
with first mortgage made or
assumed at time of purchase		 1163 77 45 60 74 95 812
Less than 40 percent 16 0 6 0 0 0 10
40 to 49 percent 14 0 0 0 0 0 14
50 to 59 percent 27 0 0 0 0 7 20
60 to 69 percent 156 36 0 25 14 8 74
70 to 79 percent 101 15 5 0 15 0 65
80 to 89 percent 201 9 9 0 7 17 159
90 to 94 percent 54 0 0 0 0 20 34
95 to 99 percent 106 12 0 6 10 7 70
100 percent or more 456 4 19 28 28 36 341
Not reported 31 0 6 0 0 0 25
Median 95 72 89 99 95 94 96
Other properties 364 31 5 6 17 20 286
Not available 0 0 0 0 0 0 0

Total Mortgage Loan as Percent
of Value

Properties acquired by
purchase with first mortgage
made or assumed at time of
purchase		 1163 77 45 60 74 95 812
Less than 40 percent 104 12 11 6 6 0 68
40 to 49 percent 71 0 0 0 6 24 41
50 to 59 percent 170 22 0 8 15 7 118
60 to 69 percent 228 15 7 26 12 14 155
70 to 79 percent 165 21 0 6 5 14 119
80 to 89 percent 118 0 16 0 12 17 74
90 to 94 percent 79 0 0 0 0 7 72
95 to 99 percent 50 7 6 0 0 5 32
100 percent or more 146 0 0 14 17 6 109
Not reported 31 0 6 0 0 0 25
Median 70 63 81 66 68 72 71
Other properties 364 31 5 6 17 20 286
Not available 0 0 0 0 0 0 0

Total Outstanding Debt as a Percent
of Value

Less than 20 percent		 87 4 11 6 6 0 60
20 to 29 percent 79 0 0 0 0 0 79
30 to 39 percent 114 14 0 8 7 18 66
40 to 49 percent 140 25 15 0 17 6 76
50 to 59 percent 309 20 0 20 18 28 223
60 to 69 percent 177 15 6 20 7 12 117
70 to 79 percent 222 12 7 6 19 13 164
80 to 89 percent 152 6 11 0 13 17 105
90 to 99 percent 106 7 0 6 3 20 69
100 percent or more 93 0 0 0 0 0 93
Not reported or not computed 50 5 0 0 0 0 46
Median 61 54 49 60 59 64 62

Index Used to Adjust Interest Rate
on ARM

Properties with adjustable
rate first mortgage		 284 20 11 13 12 21 207
Treasury security 65 0 5 0 0 7 53
Average cost of funds in bank district 14 0 0 0 0 0 14
National average cost of funds 5 0 0 0 0 0 5
OTS contract mortgage rate 0 0 0 0 0 0 0
Other method 37 0 0 0 0 0 37
No index used 0 0 0 0 0 0 0
Not reported 162 20 6 13 12 14 97
Other properties 1243 88 39 53 78 93 892
Not reported 0 0 0 0 0 0 0

Frequency With Which Rate Can Be
Adjusted

Properties with adjustable
rate first mortgage		 284 20 11 13 12 21 207
Monthly 14 0 0 0 0 0 14
Every 3 months 0 0 0 0 0 0 0
Every 6 months 17 0 0 0 0 0 17
Yearly 58 0 5 0 0 7 45
Every 3 years 20 0 0 0 0 0 20
Every 5 years 14 0 0 0 0 0 14
Other 0 0 0 0 0 0 0
Not reported 162 20 6 13 12 14 97
Other properties 1243 88 39 53 78 93 892
Not reported 0 0 0 0 0 0 0

Caps on Interest Rate Per Adjustment
Period

Properties with adjustable
rate first mortgage		 284 20 11 13 12 21 207
Less than 1 percent 0 0 0 0 0 0 0
1 percent 0 0 0 0 0 0 0
1.1 to 1.9 percent 10 0 0 0 0 0 10
2 percent 60 0 0 0 0 7 53
2.1 to 2.9 percent 3 0 0 0 0 0 3
3 percent 0 0 0 0 0 0 0
3.1 to 3.9 percent 0 0 0 0 0 0 0
4.0 percent or more 12 0 5 0 0 0 7
No caps 37 0 0 0 0 0 37
Not reported 162 20 6 13 12 14 97
Other properties 1243 88 39 53 78 93 892
Not reported 0 0 0 0 0 0 0

Caps on Interest Rate Over Life of ARM

Properties with adjustable
rate first mortgage		 284 20 11 13 12 21 207
Less than 1 percent 0 0 0 0 0 0 0
1 percent 0 0 0 0 0 0 0
1.1 to 1.9 percent 0 0 0 0 0 0 0
2 percent 0 0 0 0 0 0 0
2.1 to 2.9 percent 0 0 0 0 0 0 0
3 percent 0 0 0 0 0 0 0
3.1 to 3.9 percent 0 0 0 0 0 0 0
4.0 percent or more 109 0 5 0 0 7 97
No caps 13 0 0 0 0 0 13
Not reported 162 20 6 13 12 14 97
Other properties 1243 88 39 53 78 93 892
Not reported 0 0 0 0 0 0 0

Interest Rate Changed Since
Mortgage Made

Properties with adjustable
rate first mortgage		 284 20 11 13 12 21 207
Yes, rate has changed 78 0 5 0 0 7 66
No change since mortgage made 44 0 0 0 0 0 44
Not reported 162 20 6 13 12 14 97
Other properties 1243 88 39 53 78 93 892
Not reported 0 0 0 0 0 0 0

Change in Monthly Interest and Principal
Payments Other Than Change in Interest
Rate

Monthly payments can change
(other than change in interest
ra 		0 0 0 0 0 0 0
Payments can change monthly 0 0 0 0 0 0 0
Payments can change every three months 0 0 0 0 0 0 0
Payments can change every six months 0 0 0 0 0 0 0
Payments can change yearly 0 0 0 0 0 0 0
Payments can change every 3 years 0 0 0 0 0 0 0
Payments can change every 5 years 0 0 0 0 0 0 0
Other 0 0 0 0 0 0 0
Not reported 0 0 0 0 0 0 0
Monthly payments cannot
change		 1365 88 44 53 78 101 1001
Not reported 162 20 6 13 12 14 97

First Mortgage Allows for Negative
Amortization

Monthly payments can change
(other than change in interest
rate)		 0 0 0 0 0 0 0
Yes, unrestricted negative amortization 0 0 0 0 0 0 0
Yes, restricted negative amortization 0 0 0 0 0 0 0
No negative amortization allowed 0 0 0 0 0 0 0
Not reported 0 0 0 0 0 0 0
Monthly payments cannot change 1365 88 44 53 78 101 1001
Not reported 162 20 6 13 12 14 97

MORTGAGE PAYMENTS AND OTHER EXPENSES


Method of Payment of First Mortgage

Regular payments of interest
and/or principal		 1354 79 50 47 77 108 993
Interest and principal 1354 79 50 47 77 108 993
Fully amortized 1227 79 44 47 72 94 892
Not fully amortized 127 0 6 0 6 14 101
Interest only 0 0 0 0 0 0 0
No regular payments required 6 0 0 0 0 0 6
Not reported 168 30 0 19 13 7 99

Items Included in First Mortgage
Payment@1

Regular monthly payments of
both interest and principal		 1354 79 50 47 77 108 993
Real estate taxes 297 27 44 6 4 36 180
Property insurance 333 33 44 6 4 43 202
Mortgage insurance 52 11 7 0 0 30 4
Other 121 7 27 0 0 14 74
No items included or not reported 1011 46 6 40 73 65 780
No regular payments of interest
and principal		 174 30 0 19 13 7 105

Monthly Interest and Principal Payments
on First Mortgage

Monthly payments of interest
and/or principal		 1354 79 50 47 77 108 993
Less than $100 48 6 0 0 0 6 37
$100 to $199 67 4 0 0 0 0 63
$200 to $299 202 24 18 14 17 6 122
$300 to $399 215 8 13 14 10 22 148
$400 to $499 127 14 9 0 14 0 91
$500 to $599 167 9 6 6 0 20 125
$600 to $699 82 0 0 0 0 21 61
$700 to $799 112 8 0 0 7 7 90
$800 to $899 61 6 0 0 0 12 43
$900 to $999 50 0 5 0 12 0 33
$1,000 to $1,249 74 0 0 13 3 0 58
$1,250 to $1,499 76 0 0 0 0 5 70
$1,500 or more 73 0 0 0 13 8 52
Median 511 373 355 368 482 596 528
Mean 1157 409 404 533 10057 651 645
No regular payments required 6 0 0 0 0 0 6
Not reported 168 30 0 19 13 7 99

Current First Mortgage Payment Status

Regular monthly payments of
principal and/or interest		 1522 108 50 66 91 115 1093
Up-to-date, ahead of schedule, or
less than 90 days past due		 537 33 38 0 10 47 409
Delinquent by 90 days or more 18 0 6 6 0 0 5
Legal proceedings have begun 12 0 6 6 0 0 0
Legal proceedings have not begun 5 0 0 0 0 0 5
Not reported 0 0 0 0 0 0 0
Not reported 966 76 6 59 81 67 678
Other properties 6 0 0 0 0 0 6

Monthly Interest and Principal Payments
on Total Mortgages

Regular monthly payments of
interest and/or principal		 1354 79 50 47 77 108 993
Less than $100 43 6 0 0 0 6 31
$100 to $199 60 4 0 0 0 0 56
$200 to $299 192 24 18 14 17 6 113
$300 to $399 222 8 13 14 10 22 155
$400 to $499 123 14 9 0 0 0 100
$500 to $599 167 9 6 6 0 20 125
$600 to $699 83 0 0 0 0 21 62
$700 to $799 100 8 0 0 7 7 77
$800 to $899 55 6 0 0 0 5 43
$900 to $999 64 0 5 0 26 0 33
$1,000 to $1,249 91 0 0 13 3 0 75
$1,250 to $1,499 77 0 0 0 0 7 70
$1,500 or more 78 0 0 0 13 13 52
Median 523 373 355 368 916 596 533
Mean 1186 409 404 533 10142 702 672
No regular monthly payments
required		 174 30 0 19 13 7 105

Interest and Principal Payment on
First Mortgage as Percent of Rental
Receipts

Acquired before 2000 and
regular payments of interest
and/or princi 		1145 70 50 34 64 83 845
Less than 20 percent 54 6 0 0 0 6 42
20 to 29 percent 18 0 0 0 0 0 18
30 to 39 percent 35 4 0 0 0 0 31
40 to 49 percent 58 8 0 0 0 0 50
50 to 59 percent 121 15 13 0 7 13 73
60 to 69 percent 127 7 5 0 4 7 105
70 to 79 percent 94 0 12 0 0 6 76
80 to 89 percent 106 8 5 12 5 0 77
90 to 99 percent 101 6 15 0 7 12 60
100 percent or more 280 16 0 0 27 27 211
Not reported or not computed 150 0 0 22 14 12 102
Median 79 62 76 85 7444 93 77
Other properties 382 39 0 32 26 32 254

Interest and Principal Payment on Total
Mortgages as Percent of Rental Receipts

Acquired before 2000 and regular
payments of interest and/or
principal 		1145 70 50 34 64 83 845
Less than 20 percent 48 6 0 0 0 6 37
20 to 29 percent 18 0 0 0 0 0 18
30 to 39 percent 35 4 0 0 0 0 31
40 to 49 percent 53 8 0 0 0 0 45
50 to 59 percent 132 15 13 0 7 13 84
60 to 69 percent 104 7 5 0 4 7 81
70 to 79 percent 72 0 12 0 0 6 55
80 to 89 percent 106 8 5 12 5 0 77
90 to 99 percent 109 6 15 0 7 12 68
100 percent or more 318 16 0 0 27 27 248
Not reported or not computed 150 0 0 22 14 12 102
Median 83 62 76 85 7444 93 83
Other properties 382 39 0 32 26 32 254

Real Estate Tax

Acquired before 2000		 1288 99 50 46 72 90 932
Less than $100 67 6 0 0 3 0 58
$100 to $199 33 0 0 0 5 0 28
$200 to $299 55 8 0 14 0 0 33
$300 to $399 122 7 0 20 9 14 73
$400 to $499 89 9 0 0 0 0 80
$500 to $599 108 6 9 0 8 7 78
$600 to $699 98 20 0 0 0 0 78
$700 to $799 30 0 7 6 7 7 4
$800 to $899 105 0 0 0 20 0 85
$900 to $999 35 0 5 0 0 7 22
$1,000 to $1,249 144 8 13 6 0 13 103
$1,250 to $1,499 64 4 0 0 0 11 48
$1,500 to $1,999 123 18 11 0 7 7 80
$2,000 to $2,499 91 8 6 0 5 7 66
$2,500 or more 104 0 0 0 8 17 79
Not reported 21 5 0 0 0 0 16
Median 830 656 1085 344 822 1190 831
Mean 1096 929 1196 439 1053 1357 1119
Acquired 2000 and 2001 (part) 240 9 0 20 19 25 167

Real Estate Tax Per $1,000 Value

Acquired before 2000		 1288 99 50 46 72 90 932
Less than $5 138 0 0 8 8 0 122
$5 to $9 525 54 0 24 31 28 388
$10 to $14 253 22 32 0 22 25 153
$15 to $19 141 6 0 0 5 25 105
$20 to $24 80 4 7 14 0 7 48
$25 to $29 56 0 0 0 6 0 49
$30 to $39 74 8 12 0 0 5 50
$40 to $49 0 0 0 0 0 0 0
$50 to $59 0 0 0 0 0 0 0
$60 or more 0 0 0 0 0 0 0
Not reported or not computed 21 5 0 0 0 0 16
Median 10 9 14 8 10 13 9
Acquired 2000 and 2001 (part) 240 9 0 20 19 25 167

Real Estate Tax as Percent of Rental
Receipts

Acquired before 2000		 1288 99 50 46 72 90 932
Less than 5 percent 74 0 0 0 0 0 74
5 to 9 percent 401 33 0 18 12 34 305
10 to 14 percent 236 23 14 6 14 7 172
15 to 19 percent 180 25 7 0 10 19 119
20 to 24 percent 106 8 18 0 14 7 60
25 to 29 percent 62 0 12 0 0 0 50
30 to 34 percent 25 0 0 0 0 5 20
35 to 39 percent 8 0 0 0 8 0 0
40 percent or more 19 0 0 0 0 5 14
Not reported or not computed 177 10 0 22 14 12 118
Median 12 13 21 8 17 13 11
Acquired 2000 and 2001 (part) 240 9 0 20 19 25 167
@1Detail does not add to total because more than one answer accepted.
@8May not add to total because not reported and not calculated are not included.
@8May not add to total because not reported and not calculated are not included.
@1Detail does not add to total because more than one answer accepted.
@1Detail does not add to total because more than one answer accepted.
@1Detail does not add to total because more than one answer accepted.
@1Detail does not add to total because more than one answer accepted.
@1Detail does not add to total because more than one answer accepted.


Go to Residential Finance Survey: 2001 Detailed Regional Tables
Contact the Demographic Call Center Staff at 301-763-2422 or 1-866-758-1060 (toll free) or visit ask.census.gov for further information on Residential Finance Survey.

Source: U.S. Census Bureau, Housing and Household Economic Statistics Division
Last Revised: December 07, 2005