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Residential Finance Survey: 2001 - South
Table 2-2d. Type of First Mortgage, 1-Unit Homeowner 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^^

Fixed rate mortgage
Total mortgaged
properties
Amortized Short term with
balloon payment
Adjustable rate
mortgage (ARM)
Other mortgage

1-housing-unit properties with
traditional first mortgage
12735 10536 576 1497 127

PROPERTY CHARACTERISTICS


Manner of Acquisition

By purchase
12320 10208 532 1454 125
Placed one new mortgage 11259 9325 487 1328 118
Placed two or more new mortgages 376 310 9 53 4
Assumed mortgage(s) already on property 381 337 12 32 0
Assumed mortgage(s) already on property
and placed new mortgage
72 66 6 0 0
Borrowed using assets other than this
property as collateral
45 32 6 4 3
Paid all cash-no borrowing 155 113 5 37 0
Other manner 32 25 7 0 0
By inheritance or gift 255 202 27 25 2
By divorce 21 15 6 0 0
By some other manner 22 22 0 0 0
Not reported 117 88 11 18 0

Source of Downpayment@1

Properties purchased
1995 to 2001 (part)
6694 5540 296 802 57
Sale of previous home 1993 1621 96 253 23
Sale of other real property or other
investments
315 265 7 43 0
Savings 3374 2824 142 385 23
Borrowing from a retirement plan 289 232 28 29 0
Borrowing using assets other than this
property as collateral
174 108 13 45 7
Proceeds from an insurance policy 28 28 0 0 0
Payments in a lease-purchase agreement 52 40 0 13 0
From a state or local government source 110 98 9 3 0
From a non-profit organization 19 11 0 7 0
From parents or relatives 665 549 16 96 4
Other 47 34 0 13 0
No downpayment required 617 507 33 72 4
Not reported 131 105 4 21 0
Other properties 5975 4944 275 686 70
Not reported 66 51 6 9 0

Year Property Acquired

1999 to 2001 (part)
3207 2660 163 365 20
1997 and 1998 2228 1872 85 257 14
1995 and 1996 1473 1181 68 200 24
1990 to 1994 2579 2180 110 257 32
1985 to 1989 1430 1206 26 176 22
1980 to 1984 740 551 61 118 11
1975 to 1979 569 465 33 67 5
1970 to 1974 318 268 19 31 0
1969 or earlier 191 153 11 27 0

Property New or Previously Occupied When
Acquired

Acquired by purchase
12320 10208 532 1454 125
New 3761 3085 149 470 57
Previously occupied by someone else 8490 7069 375 978 68
Converted from non-residential use 8 5 3 0 0
Other 11 11 0 0 0
Not reported 50 38 5 6 0
Other properties 299 240 33 25 2
Not reported 117 88 11 18 0

Year Structure Built

1999 to March 2000
769 639 39 83 8
1997 and 1998 1003 817 38 140 7
1995 and 1996 828 652 43 105 29
1990 to 1994 1492 1269 44 159 20
1980 to 1989 2858 2364 111 351 33
1970 to 1979 2370 1961 128 268 14
1960 to 1969 1309 1099 54 153 4
1950 to 1959 1044 879 29 131 5
1940 to 1949 396 368 15 10 3
1939 or earlier 665 488 76 96 5

Purchase Price

Properties acquired by
purchase 1997 to 2001 (part)
5284 4405 244 601 33
Less than $20,000 127 88 6 30 3
$20,000 to $39,999 292 206 19 67 0
$40,000 to $59,999 492 424 20 48 0
$60,000 to $79,999 760 669 37 54 0
$80,000 to $99,999 808 701 23 84 0
$100,000 to $124,999 692 574 36 82 0
$125,000 to $149,999 670 569 33 57 11
$150,000 to $174,999 451 392 19 31 9
$175,000 to $199,999 224 172 11 38 4
$200,000 to $249,999 301 247 16 35 4
$250,000 to $299,999 210 164 18 29 0
$300,000 to $499,999 202 160 0 43 0
$500,000 or more 53 38 8 5 3
Median 105880 104932 112744 105407 157253
Mean 128398 127024 135330 131444 204358
Other properties 7452 6131 331 895 94

Value

Less than $20,000
130 110 10 10 0
$20,000 to $39,999 430 333 28 69 0
$40,000 to $59,999 1190 949 51 185 5
$60,000 to $79,999 1730 1426 102 188 14
$80,000 to $99,999 1892 1626 54 195 17
$100,000 to $124,999 1587 1281 120 163 23
$125,000 to $149,999 1626 1398 44 176 8
$150,000 to $174,999 1161 975 45 125 16
$175,000 to $199,999 707 636 11 50 9
$200,000 to $249,999 769 619 44 93 13
$250,000 to $299,999 560 427 33 86 13
$300,000 to $499,999 698 578 18 102 0
$500,000 or more 257 177 15 56 10
Median 115692 116076 108873 115709 139212
Mean 142977 141054 138580 153669 196381

Value of Capital Improvements

Properties with capital
improvements between 1998
and 2000
6576 5492 280 745 58
Less than $500 116 100 0 16 0
$500 to $999 225 197 8 20 0
$1,000 to $2,499 1257 1077 31 145 4
$2,500 to $4,999 1162 961 67 130 4
$5,000 to $7,499 1349 1130 40 153 25
$7,500 to $9,999 336 285 18 33 0
$10,000 to $14,999 773 622 46 96 9
$15,000 to $19,999 373 309 4 57 4
$20,000 to $29,999 521 432 44 39 6
$30,000 or more 465 380 21 56 7
Median 5980 5910 7110 6011 7083
Mean 10784 10235 22260 9986 17554
Properties with no capital
improvements between 1998 and 2000
4868 3977 254 590 47
Capital improvements not
reported
1292 1067 42 161 22

Age Restrictions

Property located in subdivision
restricted to people age 55 or older
1052 893 41 101 17
Property located in subdivision not
restricted to people age 55 or older
11182 9216 531 1338 97
Not reported 501 426 4 58 14

Neighborhood Composition

Property located in subdivision or
neighborhood occupied predominantly by
people age 55 or older
1087 898 59 123 6
Property located in subdivision or
neighborhood not occupied predominantly
by people age 55 or older
8005 6567 400 966 72
Don't know or not reported 3644 3070 117 408 49

Type of Property Benefits@1

Government-sponsored below-market
interest rate mortgage loan
199 178 12 9 0
Other government grant or subsidy 47 42 6 0 0
Property tax relief 768 645 46 73 4
Subsidy from a non-profit corporation 32 32 0 0 0
None of the above benefits 9212 7615 425 1101 71
Not reported 2506 2052 88 314 52

Source of Property Benefits@1

With property benefits
1017 869 63 82 4
Federal government 192 165 17 9 0
State government 366 294 29 39 4
Local government 385 333 23 29 0
Non-profit corporation 32 32 0 0 0
Not reported 90 85 0 5 0
With no property benefits 9212 7615 425 1101 71
Not reported 2506 2052 88 314 52

Reason for Benefits@1

With property benefits
1017 869 63 82 4
Occupied by low- or moderate-income
individuals
162 152 10 0 0
Occupied by elderly or disabled
individuals
109 90 8 8 4
A historic structure 12 12 0 0 0
Located in a community development or
economic development area
38 32 0 5 0
Covered by a Homestead Exemption 681 587 38 56 0
Covered by a Community Land Trust 0 0 0 0 0
Covered by disaster relief 11 11 0 0 0
Other reason 58 53 6 0 0
Not reported 44 27 5 12 0
With no property benefits 9212 7615 425 1101 71
Not reported 2506 2052 88 314 52

OWNER CHARACTERISTICS


Owner Status

1 owner
4258 3566 182 477 33
2 owners 8350 6855 389 1012 94
3 or more owners 127 115 5 7 0

Age of Owner

Under 25
150 118 0 32 0
25 to 34 1859 1601 84 165 9
35 to 44 3499 2846 143 469 41
45 to 54 3505 2975 156 346 28
55 to 64 2005 1619 107 265 14
65 to 74 849 702 41 97 9
75 and over 266 199 30 34 4
Not reported 602 475 15 89 23
Median 47 47 48 46 46

Race of Owner

White alone
10535 8644 513 1275 103
Black or African American alone 1776 1545 56 156 19
American Indian or Alaska Native alone 52 52 0 0 0
Asian alone 270 210 0 54 5
Native Hawaiian or Other Pacific
Islander alone
8 8 0 0 0
Two or more races 94 76 7 11 0

Sex of Owner

Male/Male and female co-owners
10311 8509 457 1244 101
Female 2424 2027 119 253 26

Hispanic/Latino Origin

Hispanic/Latino owner(s) only
980 826 68 73 12
No Hispanic/Latino owner(s) 11756 9709 508 1423 115

Veteran Status@1

Veteran
2882 2426 170 264 22
Active member of Reserves or National
Guard for at least 6 years
547 443 41 62 0
Persian Gulf War or after
(August 1990 to present)
458 412 7 38 0
Vietnam or after
(August 1964 to July 1990)
1575 1371 94 93 18
Korean conflict or after
(July 1950 to July 1964)
597 461 45 88 4
World War II or after
(September 1940 to June 1950)
228 174 16 34 4
Nonveteran 9070 7446 396 1145 83
Not reported 783 663 10 88 22

Income

Less than $5,000
1238 965 60 190 23
$5,000 to $9,999 165 128 4 32 0
$10,000 to $14,999 283 235 24 25 0
$15,000 to $19,999 334 286 12 33 3
$20,000 to $24,999 364 309 21 34 0
$25,000 to $29,999 683 539 51 93 0
$30,000 to $34,999 677 577 13 73 14
$35,000 to $39,999 549 434 44 72 0
$40,000 to $49,999 1327 1085 65 161 17
$50,000 to $59,999 1327 1115 74 128 10
$60,000 to $79,999 2128 1803 61 244 20
$80,000 to $99,999 1428 1202 55 158 12
$100,000 to $119,999 784 632 47 94 11
$120,000 or more 1448 1225 47 161 16
Median 55629 56369 49110 52825 56253
Mean 67576 68388 61530 64046 69169

Owned Home Previously

Previously owned home
7170 5903 318 871 79
Never owned home before 5041 4201 244 554 42
Not reported 524 432 15 72 6

MORTGAGE CHARACTERISTICS


Method of Loan Application

By computer over the Internet or
by e-mail
84 61 9 13 0
By telephone or FAX 1094 924 39 127 3
By regular mail 270 259 0 4 8
By personal visit 7697 6275 369 985 68
Through third party (such as real
estate agent or builder)
2382 2013 107 221 41
Some other way 22 22 0 0 0
Not reported 994 820 42 126 7
Not available 192 161 10 22 0

Origin of First Mortgage

Mortgage made at time property acquired
9532 7838 425 1162 108
Mortgage assumed at the time property
acquired
332 293 14 25 0
Mortgage placed later than acquisition of
property
2871 2405 137 310 19
Refinanced mortgage 2513 2121 110 263 19
Same lender 703 597 35 66 5
Different lender 1810 1525 75 196 13
Mortgage placed on property
owned free and clear of debt
358 284 27 48 0
Not available 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
2871 2405 137 310 19
Obtain lower interest rate 1737 1497 73 161 5
Increase payment period for mortgage 16 12 4 0 0
Reduce payment period for mortgage 89 82 3 3 0
Renew or extend loan that had fallen
due, without increasing outstanding
balance
73 58 6 10 0
Receive cash or increase outstanding
balance of loan
795 627 39 115 13
Other reason 78 57 6 16 0
Not reported 84 73 6 5 0
Other properties 9864 8130 439 1186 108
Not available 0 0 0 0 0

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

Properties on which cash
received
1149 934 66 129 19
Less than $20,000 495 441 12 42 0
$20,000 to $39,999 345 264 23 44 13
$40,000 to $59,999 146 102 14 30 0
$60,000 to $79,999 52 46 3 3 0
$80,000 to $99,999 53 39 9 0 5
$100,000 to $124,999 24 17 4 4 0
$125,000 to $149,999 12 12 0 0 0
$150,000 to $174,999 7 3 0 3 0
$175,000 to $199,999 4 4 0 0 0
$200,000 to $249,999 7 4 0 3 0
$250,000 to $299,999 4 4 0 0 0
$300,000 or more 0 0 0 0 0
Median 24591 21965 37977 30326 34092
Mean 31981 30599 40965 35725 43162
Properties that refinanced
and did not receive cash back
1485 1283 55 146 0
Properties that refinanced
and did not report if received
cash back
238 188 16 35 0
Properties that did not
refinance
9864 8130 439 1186 108
Not available 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
1149 934 66 129 19
For additions, improvements or repairs
to this property
464 353 47 59 5
To consolidate debts 602 469 42 78 14
For investment in other real estate 70 67 0 3 0
For other types of investments 80 77 0 3 0
For educational or medical expenses 119 110 6 4 0
To start a business 19 11 0 8 0
To settle a divorce 25 23 0 3 0
To pay taxes 19 11 4 3 0
To purchase an automobile, truck, or
other vehicle
92 74 8 9 0
To purchase consumer product other than
automobile, truck, or other vehicle
34 30 0 4 0
Other 35 35 0 0 0
Not reported 10 6 4 0 0
Properties that refinanced
and did not receive cash back
1485 1283 55 146 0
Properties that refinanced
and did not report if received
cash back
238 188 16 35 0
Properties that did not
refinance
9864 8130 439 1186 108
Not available 0 0 0 0 0

Year First Mortgage Made or
Assumed

1999 to 2001 (part)
4784 3996 230 524 34
1997 and 1998 2967 2528 116 305 17
1995 and 1996 1423 1112 79 207 25
1990 to 1994 2255 1880 101 247 27
1985 to 1989 680 539 14 109 17
1980 to 1984 248 187 10 47 5
1979 or earlier 378 293 25 58 2

First Mortgage Insurance Status

FHA-insured first mortgage
1629 1441 42 135 11
VA-guaranteed first mortgage 483 464 6 9 4
Rural Housing Service-Rural Development-
insured or -guaranteed first mortgage
315 297 4 10 4
Other federal, state, or local
government-insured or guaranteed
first mortgage
312 247 5 45 16
Insured conventional first mortgage 1604 1409 44 147 4
Uninsured conventional first mortgage 8392 6677 475 1152 88
Not reported 0 0 0 0 0

Traditional First Mortgage Loan

Less than $20,000
570 453 34 84 0
$20,000 to $29,999 659 520 59 80 0
$30,000 to $39,999 876 685 38 142 11
$40,000 to $49,999 1074 879 81 110 4
$50,000 to $59,999 1207 1041 46 116 3
$60,000 to $79,999 2312 1901 97 279 35
$80,000 to $99,999 1722 1511 54 147 10
$100,000 to $149,999 2579 2140 97 304 39
$150,000 to $199,999 861 740 26 82 12
$200,000 to $249,999 416 323 21 68 3
$250,000 to $299,999 128 100 4 25 0
$300,000 or more 207 138 15 45 10
Not reported 124 105 4 15 0
Median 76608 77237 65702 74982 100663
Mean 91924 91350 83280 96068 129634

Total Mortgage Loan

Less than $20,000
524 424 16 84 0
$20,000 to $29,999 634 493 61 80 0
$30,000 to $39,999 856 659 48 138 11
$40,000 to $49,999 957 785 72 97 4
$50,000 to $59,999 1107 969 51 87 0
$60,000 to $79,999 2311 1905 97 279 31
$80,000 to $99,999 1747 1510 55 166 17
$100,000 to $149,999 2626 2164 107 317 39
$150,000 to $199,999 1004 879 26 86 12
$200,000 to $249,999 418 327 16 71 3
$250,000 to $299,999 182 148 9 25 0
$300,000 or more 248 172 15 52 10
Not reported 121 102 4 15 0
Median 79288 79818 67910 78307 100663
Mean 96052 95630 86434 99570 132911

Traditional First Mortgage Outstanding
Debt

Less than $10,000
480 410 34 35 0
$10,000 to $19,999 642 501 38 103 0
$20,000 to $29,999 891 689 48 143 11
$30,000 to $39,999 1078 862 61 150 4
$40,000 to $49,999 1137 959 73 106 0
$50,000 to $59,999 1110 934 38 120 18
$60,000 to $79,999 2149 1825 99 205 20
$80,000 to $99,999 1578 1331 42 182 23
$100,000 to $149,999 2229 1862 77 257 34
$150,000 to $199,999 739 634 28 70 7
$200,000 to $249,999 297 228 16 53 0
$250,000 to $299,999 116 70 11 33 2
$300,000 or more 169 127 8 26 8
Not reported 121 102 4 15 0
Median 69029 69439 58483 68245 88825
Mean 83247 82572 77211 87130 120510

Total Mortgage Outstanding Debt

Less than $10,000
407 350 22 35 0
$10,000 to $19,999 621 503 25 93 0
$20,000 to $29,999 872 655 62 143 11
$30,000 to $39,999 980 777 62 138 4
$40,000 to $49,999 1056 892 63 100 0
$50,000 to $59,999 1045 892 38 101 15
$60,000 to $79,999 2167 1837 104 206 20
$80,000 to $99,999 1622 1356 53 192 21
$100,000 to $149,999 2349 1951 81 278 40
$150,000 to $199,999 818 703 28 81 7
$200,000 to $249,999 332 272 11 49 0
$250,000 to $299,999 145 97 16 31 2
$300,000 or more 204 153 8 35 8
Not reported 117 98 4 15 0
Median 72263 72522 62760 72648 93257
Mean 86334 85789 79717 89548 123699

Current Interest Rate on First Mortgage

Less than 6.0 percent
3538 2524 347 582 85
6.0 percent 175 143 0 32 0
6.1 to 6.4 percent 262 210 6 47 0
6.5 to 6.9 percent 1107 967 13 124 4
7.0 percent 1212 1078 9 125 0
7.1 to 7.4 percent 781 691 10 81 0
7.5 to 7.9 percent 1146 992 48 101 5
8.0 percent 577 549 12 17 0
8.1 to 8.4 percent 342 319 4 14 5
8.5 to 8.9 percent 485 411 22 49 3
9.0 percent 178 163 7 7 0
9.1 to 9.4 percent 132 79 19 31 4
9.5 to 9.9 percent 317 254 35 20 9
10.0 percent 128 119 9 0 0
10.1 to 10.4 percent 81 58 6 17 0
10.5 to 10.9 percent 150 127 4 19 0
11.0 percent 165 165 0 0 0
11.1 to 12.9 percent 209 163 14 27 6
13.0 percent 37 37 0 0 0
13.1 percent or more 1711 1489 13 204 5
Not reported 0 0 0 0 0
Median 7.1 7.3 5.0 6.8 4.5

Type of Interest Rate Buydown

Properties with interest rate
buydown
441 408 0 33 0
Constant payment 7 7 0 0 0
3-2-1 buydown 5 0 0 5 0
Other 4 4 0 0 0
Not reported 425 397 0 28 0
Properties without interest
rate buydown
5423 4631 167 608 18
Not reported 6871 5496 409 856 110

Term of First Mortgage

Less than 5 years
73 17 52 0 4
5 years 122 70 48 4 0
6 to 9 years 61 38 9 9 5
10 years 199 177 10 12 0
11 to 14 years 28 24 0 4 0
15 years 1236 1124 28 84 0
16 to 19 years 17 10 0 7 0
20 years 357 291 11 49 5
21 to 24 years 6 6 0 0 0
25 years 58 40 0 18 0
26 to 29 years 40 32 0 8 0
30 years 4925 4291 48 563 22
More than 30 years 118 105 6 7 0
No stated term 5495 4309 364 731 91
Median 30 30 9 30 30

Unexpired Term of First Mortgage

Less than 5 years
355 213 107 32 4
5 to 9 years 622 548 15 53 5
10 to 14 years 942 825 27 84 5
15 to 19 years 588 499 22 61 6
20 to 24 years 1038 927 13 95 4
25 to 29 years 3078 2662 21 383 13
30 or more years 617 554 6 58 0
No stated term or not computed 5495 4309 364 731 91
Median 25 25 5 26 19

Holder of First Mortgage

Commercial bank or trust company
2022 1431 198 361 33
Savings and loan association, federal
savings bank
1042 780 74 180 8
Mutual savings bank 143 116 2 19 6
Life insurance company 228 180 15 34 0
Mortgage banker or mortgage company 947 789 7 146 5
Federally-sponsored secondary market
agency or pool
6284 5493 214 530 47
Conventional mortgage pool 152 138 0 14 0
Other federal agency 414 372 5 36 0
Real estate investment trust 11 11 0 0 0
Pension or retirement fund 8 8 0 0 0
Credit union 387 288 11 83 6
Finance company 279 246 0 29 4
State or municipal government or
housing finance agency
418 351 20 40 8
Individual or individual's estate 253 207 25 15 6
Other 145 125 5 10 5

First Mortgage Loan as a Percent of
Purchase Price

Properties acquired by
purchase with first mortgage
made or assumed at time of
purchase
9553 7872 412 1162 107
Less than 40 percent 302 260 8 34 0
40 to 49 percent 194 167 11 16 0
50 to 59 percent 264 210 12 35 7
60 to 69 percent 973 719 57 180 18
70 to 79 percent 880 678 28 160 15
80 to 89 percent 1334 1049 95 172 18
90 to 94 percent 961 787 41 128 5
95 to 99 percent 1248 1156 30 62 0
100 percent or more 3272 2742 127 359 43
Not reported 125 104 4 16 0
Median 94 95 89 89 87
Other properties 3182 2664 163 335 20
Not available 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
9553 7872 412 1162 107
Less than 40 percent 335 297 8 31 0
40 to 49 percent 179 148 19 8 4
50 to 59 percent 317 245 14 56 4
60 to 69 percent 1761 1440 77 223 22
70 to 79 percent 1184 926 32 207 18
80 to 89 percent 1324 1027 93 186 18
90 to 94 percent 859 714 37 103 5
95 to 99 percent 1214 1117 24 73 0
100 percent or more 2254 1855 104 259 36
Not reported 125 104 4 16 0
Median 87 88 86 83 83
Other properties 3182 2664 163 335 20
Not available 0 0 0 0 0

First Mortgage Risk

Subprime loan
559 417 30 103 9
Not subprime loan 12176 10118 546 1393 118
Not reported 0 0 0 0 0

Index Used to Adjust Interest Rate
on ARM

Properties with adjustable
rate first mortgage
1620 0 0 1497 123
Treasury security 427 0 0 427 0
Average cost of funds in bank district 46 0 0 46 0
National average cost of funds 31 0 0 31 0
OTS contract mortgage rate 6 0 0 6 0
Other method 79 0 0 79 0
No index used 34 0 0 20 14
Not reported 997 0 0 888 109
Other properties 11115 10536 576 0 4
Not reported 0 0 0 0 0

Frequency With Which Rate Can Be
Adjusted

Properties with adjustable
rate first mortgage
1620 0 0 1497 123
Monthly 77 0 0 77 0
Every 3 months 4 0 0 4 0
Every 6 months 43 0 0 43 0
Yearly 423 0 0 423 0
Every 3 years 36 0 0 36 0
Every 5 years 22 0 0 22 0
Other 38 0 0 33 5
Not reported 977 0 0 859 118
Other properties 11115 10536 576 0 4
Not reported 0 0 0 0 0

Caps on Interest Rate Per Adjustment
Period

Properties with adjustable
rate first mortgage
1620 0 0 1497 123
Less than 1 percent 13 0 0 13 0
1 percent 3 0 0 3 0
1.1 to 1.9 percent 23 0 0 23 0
2 percent 317 0 0 317 0
2.1 to 2.9 percent 30 0 0 30 0
3 percent 24 0 0 24 0
3.1 to 3.9 percent 13 0 0 13 0
4.0 percent or more 116 0 0 116 0
No caps 94 0 0 89 5
Not reported 986 0 0 867 118
Other properties 11115 10536 576 0 4
Not reported 0 0 0 0 0

Caps on Interest Rate Over Life of ARM

Properties with adjustable
rate first mortgage
1620 0 0 1497 123
Less than 1 percent 0 0 0 0 0
1 percent 0 0 0 0 0
1.1 to 1.9 percent 0 0 0 0 0
2 percent 18 0 0 18 0
2.1 to 2.9 percent 0 0 0 0 0
3 percent 7 0 0 7 0
3.1 to 3.9 percent 8 0 0 8 0
4.0 percent or more 504 0 0 504 0
No caps 88 0 0 83 5
Not reported 995 0 0 876 118
Other properties 11115 10536 576 0 4
Not reported 0 0 0 0 0

Interest Rate Changed Since
Mortgage Made

Properties with adjustable
rate first mortgage
1620 0 0 1497 123
Yes, rate has changed 385 0 0 385 0
No change since mortgage made 259 0 0 254 5
Not reported 976 0 0 858 118
Other properties 11115 10536 576 0 4
Not reported 0 0 0 0 0

Percentage of Margin Over Index on ARM

Properties with adjustable rate
first mortgage
1620 0 0 1497 123
Less than 1 percent 0 0 0 0 0
1 percent 0 0 0 0 0
1.1 to 1.9 percent 9 0 0 9 0
2 percent 70 0 0 70 0
2.1 to 2.9 percent 304 0 0 304 0
3 percent 89 0 0 89 0
3.1 to 3.9 percent 65 0 0 65 0
4 percent 3 0 0 3 0
4.1 to 4.9 percent 11 0 0 11 0
5 percent or more 62 0 0 62 0
Not reported 1008 0 0 884 123
Median 2.8 0.0 0.0 2.8 0.0
Other properties 11115 10536 576 0 4
Not reported 0 0 0 0 0

ARM Convertible to Fixed Rate Mortgage

Properties with adjustable rate
first mortgage
1620 0 0 1497 123
Can be converted 27 0 0 27 0
Cannot be converted 540 0 0 535 5
Not reported 1053 0 0 935 118
Other properties 11115 10536 576 0 4
Not reported 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
21 0 0 21 0
Payments can change monthly 5 0 0 5 0
Payments can change every three months 0 0 0 0 0
Payments can change every six months 0 0 0 0 0
Payments can change yearly 12 0 0 12 0
Payments can change every 3 years 0 0 0 0 0
Payments can change every 5 years 0 0 0 0 0
Other 0 0 0 0 0
Not reported 4 0 0 4 0
Monthly payments cannot
change
11740 10536 576 620 9
Not reported 974 0 0 856 118

First Mortgage Allows for Negative
Amortization

Monthly payments can change
(other than change in interest
rate)
21 0 0 21 0
Yes, unrestricted negative amortization 0 0 0 0 0
Yes, restricted negative amortization 0 0 0 0 0
No negative amortization allowed 17 0 0 17 0
Not reported 4 0 0 4 0
Monthly payments cannot change 11740 10536 576 620 9
Not reported 974 0 0 856 118

MORTGAGE PAYMENTS AND OTHER EXPENSES


Method of Payment of First Mortgage

Regular payments of interest
and/or principal
12344 10265 547 1409 123
Interest and principal 12320 10260 539 1406 114
Fully amortized 11394 9887 31 1370 106
Not fully amortized 926 373 509 36 9
Interest only 24 5 7 3 9
No regular payments required 35 18 0 17 0
Not reported 356 252 29 71 4

Items Included in First Mortgage
Payment@1

Regular monthly payments of
both interest and principal
12320 10260 539 1406 114
Real estate taxes 4695 4341 14 335 5
Property insurance 4571 4209 18 339 5
Mortgage insurance 1640 1552 0 88 0
Other 1816 1636 6 169 5
No items included or not reported 7410 5753 516 1032 109
No regular payments of interest
and principal
416 275 36 91 13

Monthly Interest and Principal Payments
on First Mortgage

Monthly payments of interest
and/or principal
12344 10265 547 1409 123
Less than $100 81 65 6 10 0
$100 to $199 289 233 30 25 0
$200 to $299 694 551 45 92 6
$300 to $399 1300 1101 31 168 0
$400 to $499 1493 1253 73 164 3
$500 to $599 1588 1338 67 159 25
$600 to $699 1415 1213 51 138 13
$700 to $799 1113 898 64 147 4
$800 to $899 819 684 36 81 18
$900 to $999 790 696 22 59 13
$1,000 to $1,249 1253 1034 59 154 7
$1,250 to $1,499 587 481 13 75 18
$1,500 or more 922 717 52 136 17
Median 651 649 644 662 860
Mean 793 783 854 820 1061
No regular payments required 35 18 0 17 0
Not reported 356 252 29 71 4

Current First Mortgage Payment Status

Regular monthly payments of
principal and/or interest
12700 10517 576 1480 127
Up-to-date, ahead of schedule, or
less than 90 days past due
6211 5395 161 635 19
Delinquent by 90 days or more 238 215 0 22 0
Legal proceedings have begun 78 73 0 5 0
Legal proceedings have not begun 126 116 0 9 0
Not reported 34 26 0 8 0
Not reported 6252 4907 415 822 108
Other properties 35 18 0 17 0

Monthly Interest and Principal Payments
on Total Mortgages

Regular monthly payments of
interest and/or principal
12361 10282 547 1409 123
Less than $100 81 65 6 10 0
$100 to $199 278 238 14 25 0
$200 to $299 662 523 41 92 6
$300 to $399 1203 1010 31 163 0
$400 to $499 1332 1122 71 140 0
$500 to $599 1477 1258 63 132 25
$600 to $699 1376 1196 46 120 13
$700 to $799 1126 899 67 152 8
$800 to $899 882 728 47 93 13
$900 to $999 766 659 22 75 9
$1,000 to $1,249 1429 1155 74 185 15
$1,250 to $1,499 673 578 8 75 12
$1,500 or more 1076 850 57 147 22
Median 683 677 703 715 878
Mean 839 831 898 857 1098
No regular monthly payments
required
375 254 29 88 4

Interest and Principal Payments on
Total Mortgages as Percent of Income

Regular monthly payments of
interest and/or principal
12361 10282 547 1409 123
Less than 5 percent 387 351 4 33 0
5 to 9 percent 2133 1812 107 207 5
10 to 14 percent 3156 2679 103 342 31
15 to 19 percent 2354 1972 107 254 21
20 to 24 percent 1325 1022 74 197 33
25 to 29 percent 676 599 22 55 0
30 to 34 percent 402 305 23 70 4
35 to 39 percent 221 185 9 26 0
40 to 49 percent 214 163 25 22 3
50 percent or more 407 361 16 26 3
Not reported or not computed 1087 832 55 176 23
Median 15 15 16 16 18
No regular monthly payments
required
375 254 29 88 4

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