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Residential Finance Survey: 2001 - United States
Table 2-17. Home Equity Lines of Credit, 1-Unit Homeowner Mortgaged Properties
^Number of properties in thousands.
For information on confidentiality protection, sampling error, nonsampling error, and definitions, see text.
For minimum base for derived figures (percent, median, etc.) and meaning of symbols, see text^^

Properties with-
All properties
with home
equity lines of
credit
outstanding
Home equity
line of credit
as only
mortgage
Home equity
line of credit
as junior
mortgage

1-housing-unit properties with
a home equity line of credit
1958 527 1431

PROPERTY CHARACTERISTICS


Year Property Acquired

1999 to 2001 (part)
220 25 195
1997 and 1998 207 15 192
1995 and 1996 192 35 157
1990 to 1994 345 38 308
1985 to 1989 330 74 255
1980 to 1984 182 40 142
1975 to 1979 213 93 120
1970 to 1974 129 83 46
1969 or earlier 140 124 16

Year Structure Built

1999 to March 2000
47 0 47
1997 and 1998 67 3 63
1995 and 1996 82 8 74
1990 to 1994 193 7 186
1980 to 1989 374 63 311
1970 to 1979 406 121 286
1960 to 1969 210 72 139
1950 to 1959 253 116 137
1940 to 1949 123 36 87
1939 or earlier 204 103 101

Value

Less than $20,000
31 16 15
$20,000 to $39,999 35 12 24
$40,000 to $59,999 56 42 14
$60,000 to $79,999 163 62 101
$80,000 to $99,999 171 63 108
$100,000 to $124,999 242 80 162
$125,000 to $149,999 229 51 178
$150,000 to $174,999 189 46 143
$175,000 to $199,999 145 40 105
$200,000 to $249,999 199 47 153
$250,000 to $299,999 158 23 135
$300,000 to $499,999 240 38 202
$500,000 or more 102 9 93
Median 157002 121772 169996
Mean 211105 146326 234985

Property New or Previously Occupied When
Acquired

Acquired by purchase
1891 484 1406
New 594 138 456
Previously occupied by someone else 1286 343 943
Converted from non-residential use 0 0 0
Other 0 0 0
Not reported 11 4 7
Other properties 59 43 16
Not reported 9 0 9

OWNER CHARACTERISTICS


Age of Owner

Under 25
0 0 0
25 to 34 118 4 114
35 to 44 433 44 390
45 to 54 664 137 527
55 to 64 434 171 263
65 to 74 199 120 79
75 and over 58 39 19
Not reported 52 12 40
Median 51 59 49

Race of Owner

White alone
1792 491 1301
Black or African American alone 72 13 59
American Indian or Alaska Native alone 5 0 5
Asian alone 67 10 57
Native Hawaiian or Other Pacific
Islander alone
0 0 0
Two or more races 22 13 9

Sex of Owner

Male/Male and female co-owners
1671 405 1267
Female 287 123 164

Hispanic/Latino Origin

Hispanic/Latino owner(s) only
79 20 59
No Hispanic/Latino owner(s) 1880 508 1372

Veteran Status@1

Veteran
547 180 366
Active member of Reserves or National
Guard for at least 6 years
74 11 64
Persian Gulf War or after
(August 1990 to present)
17 7 11
Vietnam or after
(August 1964 to July 1990)
322 70 252
Korean conflict or after
(July 1950 to July 1964)
158 92 66
World War II or after
(September 1940 to June 1950)
38 26 12
Nonveteran 1333 329 1004
Not reported 79 18 61

Income

Less than $5,000
66 20 46
$5,000 to $9,999 17 13 4
$10,000 to $14,999 13 5 8
$15,000 to $19,999 22 11 11
$20,000 to $24,999 35 14 21
$25,000 to $29,999 90 58 32
$30,000 to $34,999 72 42 31
$35,000 to $39,999 78 32 46
$40,000 to $49,999 137 59 78
$50,000 to $59,999 195 56 140
$60,000 to $79,999 372 73 299
$80,000 to $99,999 343 63 279
$100,000 to $119,999 184 34 151
$120,000 or more 334 48 286
Median 73633 51819 80008
Mean 91330 71732 98555

Owned Home Previously

Previously owned home
1344 287 1057
Never owned home before 564 223 341
Not reported 51 18 33

MORTGAGE CHARACTERISTICS


Purpose of Home Equity Line of Credit

Provide funds for additions, improvements
or repairs to this property
774 245 529
Provide funds for consolidation of debt 383 103 280
Provide funds for investment in other
real estate
61 19 42
Provide funds for other types of
investments
48 17 31
Provide funds for educational or medical
expenses
110 34 75
Provide funds to start a business 31 8 22
Provide funds to settle a divorce 7 3 4
Provide funds to pay taxes 24 14 11
Provide funds to purchase an automobile,
truck, or other vehicle
171 33 138
Provide funds to purchase another type
of consumer product
20 0 20
Other 54 24 30
Not reported 276 28 248

Outstanding Debt on Home Equity Line
of Credit

Properties with unpaid balance
on home equity line of credit
1958 527 1431
Less than $5,000 190 48 142
$5,000 to $9,999 259 74 185
$10,000 to $14,999 240 58 182
$15,000 to $19,999 261 68 193
$20,000 to $29,999 418 98 319
$30,000 to $39,999 202 70 133
$40,000 to $49,999 113 20 93
$50,000 to $59,999 78 21 58
$60,000 to $79,999 87 44 43
$80,000 to $99,999 63 18 45
$100,000 or more 47 8 39
Not reported 0 0 0
Median 20699 21537 20441
Mean 28492 29594 28086
Properties with no unpaid
balance
0 0 0

Current Interest Rate on Home
Equity Line

Less than 4.0 percent
2 0 2
4.0 percent 0 0 0
4.1 to 4.4 percent 11 4 7
4.5 to 4.9 percent 165 41 125
5.0 percent 82 29 53
5.1 to 5.4 percent 70 17 53
5.5 to 5.9 percent 130 37 93
6.0 percent 108 16 92
6.1 to 6.4 percent 110 17 92
6.5 to 6.9 percent 362 102 260
7.0 percent 88 35 53
7.1 to 7.4 percent 73 15 59
7.5 to 7.9 percent 256 91 165
8.0 percent 109 30 79
8.1 to 9.9 percent 278 83 195
10 percent or more 116 13 103
Median 1958.4 527.5 1430.9

Points Paid as Interest on
Home Equity Line

No points
1663 442 1221
Less than 1 point 7 3 4
1 point 4 4 0
1.1 to 1.9 points 0 0 0
2 points 0 0 0
2.1 to 2.9 points 0 0 0
3 points 0 0 0
3.1 to 3.9 points 0 0 0
4 points 0 0 0
4.1 to 4.9 points 0 0 0
5 points 0 0 0
5.1 to 5.9 points 0 0 0
6 points or more 3 3 0
Not reported or don't know 282 75 207

Caps on Interest Rate Change Per
Adjustment Period for Home Equity Line

Properties with adjustable rate
home equity line
1768 491 1278
Less than 1 percent 65 27 38
1 percent 44 14 29
1.1 to 1.9 percent 8 8 0
2 percent 94 29 65
2.1 to 2.9 percent 0 0 0
3 percent 18 3 15
3.1 to 3.9 percent 0 0 0
4 percent or more 27 3 23
No caps 1408 347 1061
Not reported 105 58 47
Other properties 190 37 153

Caps on Interest Rate Change Over
Life of Home Equity Line

Properties with adjustable rate
home equity line
1768 491 1278
Less than 1 percent 17 6 11
1 percent 0 0 0
1.1 to 1.9 percent 0 0 0
2 percent 30 8 22
2.1 to 2.9 percent 0 0 0
3 percent 0 0 0
3.1 to 3.9 percent 3 0 3
4 percent or more 957 262 695
No caps 675 169 507
Not reported 86 46 40
Other properties 190 37 153

Holder of Home Equity Line of Credit

Commercial bank or trust company
1059 286 774
Savings and loan association, federal
savings bank
261 66 195
Mutual savings bank 57 15 42
Credit union 421 143 278
Finance company 109 11 98
Other 51 8 43

MORTGAGE PAYMENTS AND OTHER EXPENSES


Monthly Interest and Principal Payments on
Home Equity Line of Credit

Regular monthly payments of
interest and/o
1878 524 1355
Less than $100 114 55 59
$100 to $199 240 112 128
$200 to $299 86 36 50
$300 to $399 121 60 61
$400 to $499 86 35 50
$500 to $599 41 24 17
$600 to $699 13 4 9
$700 to $799 12 12 0
$800 to $899 20 17 4
$900 to $999 7 7 0
$1,000 to $1,249 4 4 0
$1,250 to $1,499 11 11 0
$1,500 or more 16 7 9
Not reported 1109 141 967
Median 236 270 212
Mean 424 325 512
No regular monthly payments
required
11 0 11
Not reported 69 4 65

Source: U.S. Census Bureau | Residential Finance Survey |  Last Revised: 2012-08-02T15:15:13.203-04:00