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Residential Finance Survey: 2001 - West
Table 2-2e. 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
8263 6693 365 1129 76

PROPERTY CHARACTERISTICS


Manner of Acquisition

By purchase
8105 6563 361 1105 76
Placed one new mortgage 7343 5982 307 981 73
Placed two or more new mortgages 324 263 19 42 0
Assumed mortgage(s) already on property 257 187 13 57 0
Assumed mortgage(s) already on property
and placed new mortgage
62 37 17 8 0
Borrowed using assets other than this
property as collateral
26 23 0 3 0
Paid all cash-no borrowing 81 64 5 9 3
Other manner 12 7 0 5 0
By inheritance or gift 61 53 0 8 0
By divorce 12 12 0 0 0
By some other manner 0 0 0 0 0
Not reported 85 65 4 16 0

Source of Downpayment@1

Properties purchased
1995 to 2001 (part)
4304 3524 214 516 51
Sale of previous home 1364 1101 82 157 25
Sale of other real property or other
investments
292 232 17 40 3
Savings 2275 1919 106 230 20
Borrowing from a retirement plan 220 179 0 28 13
Borrowing using assets other than this
property as collateral
57 46 7 4 0
Proceeds from an insurance policy 41 38 0 3 0
Payments in a lease-purchase agreement 21 10 0 10 0
From a state or local government source 48 25 10 13 0
From a non-profit organization 5 5 0 0 0
From parents or relatives 422 338 19 66 0
Other 19 15 0 4 0
No downpayment required 253 199 16 38 0
Not reported 116 100 0 16 0
Other properties 3904 3127 148 604 25
Not reported 54 41 4 9 0

Year Property Acquired

1999 to 2001 (part)
2000 1612 91 271 25
1997 and 1998 1387 1159 77 128 23
1995 and 1996 1000 818 49 129 3
1990 to 1994 1439 1161 39 226 13
1985 to 1989 984 810 25 150 0
1980 to 1984 546 388 42 116 0
1975 to 1979 522 429 23 67 3
1970 to 1974 211 179 9 23 0
1969 or earlier 174 136 10 19 9

Property New or Previously Occupied When
Acquired

Acquired by purchase
8105 6563 361 1105 76
New 2078 1684 94 276 24
Previously occupied by someone else 5984 4835 268 829 52
Converted from non-residential use 3 3 0 0 0
Other 9 9 0 0 0
Not reported 32 32 0 0 0
Other properties 73 65 0 8 0
Not reported 85 65 4 16 0

Year Structure Built

1999 to March 2000
476 365 20 86 5
1997 and 1998 503 400 31 59 14
1995 and 1996 464 397 13 51 3
1990 to 1994 867 709 28 131 0
1980 to 1989 1520 1247 63 205 5
1970 to 1979 1473 1239 63 167 3
1960 to 1969 871 706 24 130 11
1950 to 1959 1046 838 77 115 16
1940 to 1949 468 364 16 80 8
1939 or earlier 575 428 31 105 10

Purchase Price

Properties acquired by
purchase 1997 to 2001 (part)
3329 2721 168 392 47
Less than $20,000 31 21 0 10 0
$20,000 to $39,999 63 46 12 4 0
$40,000 to $59,999 68 53 6 5 4
$60,000 to $79,999 160 137 3 15 5
$80,000 to $99,999 303 251 27 21 3
$100,000 to $124,999 428 376 16 33 3
$125,000 to $149,999 430 392 12 20 6
$150,000 to $174,999 382 330 10 42 0
$175,000 to $199,999 255 209 16 26 4
$200,000 to $249,999 381 295 11 64 11
$250,000 to $299,999 244 191 9 34 10
$300,000 to $499,999 398 290 34 74 0
$500,000 or more 187 131 11 45 0
Median 161942 156436 167713 216098 185605
Mean 210774 202721 227845 264233 170343
Other properties 4934 3971 197 737 29

Value

Less than $20,000
21 15 0 5 0
$20,000 to $39,999 79 64 0 15 0
$40,000 to $59,999 122 86 26 10 0
$60,000 to $79,999 265 215 19 26 5
$80,000 to $99,999 590 442 40 105 3
$100,000 to $124,999 816 695 24 89 8
$125,000 to $149,999 918 756 32 116 14
$150,000 to $174,999 833 719 22 92 0
$175,000 to $199,999 638 522 44 69 3
$200,000 to $249,999 960 797 47 102 13
$250,000 to $299,999 729 594 21 97 17
$300,000 to $499,999 1444 1145 37 250 12
$500,000 or more 848 642 53 153 0
Median 194106 191945 186410 218207 217561
Mean 261530 255294 249909 305438 214393

Value of Capital Improvements

Properties with capital
improvements between 1998
and 2000
4561 3694 222 608 37
Less than $500 56 42 5 9 0
$500 to $999 163 126 21 16 0
$1,000 to $2,499 742 595 32 115 0
$2,500 to $4,999 598 494 24 75 5
$5,000 to $7,499 778 631 33 107 7
$7,500 to $9,999 261 240 9 9 3
$10,000 to $14,999 603 493 19 87 3
$15,000 to $19,999 414 333 29 41 11
$20,000 to $29,999 428 338 27 55 8
$30,000 or more 519 402 24 93 0
Median 7324 7338 7276 7080 15123
Mean 13957 13427 12807 17699 12404
Properties with no capital
improvements between 1998 and 2000
2958 2422 106 396 34
Capital improvements not
reported
744 576 37 125 5

Age Restrictions

Property located in subdivision
restricted to people age 55 or older
362 310 12 37 3
Property located in subdivision not
restricted to people age 55 or older
7646 6168 349 1055 73
Not reported 255 214 4 37 0

Neighborhood Composition

Property located in subdivision or
neighborhood occupied predominantly by
people age 55 or older
458 330 47 72 9
Property located in subdivision or
neighborhood not occupied predominantly
by people age 55 or older
5637 4570 239 781 48
Don't know or not reported 2168 1793 79 276 19

Type of Property Benefits@1

Government-sponsored below-market
interest rate mortgage loan
118 104 0 14 0
Other government grant or subsidy 55 44 5 7 0
Property tax relief 218 179 2 30 7
Subsidy from a non-profit corporation 0 0 0 0 0
None of the above benefits 6419 5206 285 872 56
Not reported 1456 1164 73 206 13

Source of Property Benefits@1

With property benefits
388 323 7 51 7
Federal government 123 101 5 18 0
State government 139 110 2 23 3
Local government 101 87 0 10 3
Non-profit corporation 0 0 0 0 0
Not reported 25 25 0 0 0
With no property benefits 6419 5206 285 872 56
Not reported 1456 1164 73 206 13

Reason for Benefits@1

With property benefits
388 323 7 51 7
Occupied by low- or moderate-income
individuals
147 127 0 17 3
Occupied by elderly or disabled
individuals
61 58 0 0 3
A historic structure 7 7 0 0 0
Located in a community development or
economic development area
39 33 2 4 0
Covered by a Homestead Exemption 69 62 0 7 0
Covered by a Community Land Trust 0 0 0 0 0
Covered by disaster relief 14 9 0 5 0
Other reason 87 63 5 19 0
Not reported 22 18 0 0 3
With no property benefits 6419 5206 285 872 56
Not reported 1456 1164 73 206 13

OWNER CHARACTERISTICS


Owner Status

1 owner
2329 1881 91 333 23
2 owners 5787 4680 274 780 53
3 or more owners 147 131 0 16 0

Age of Owner

Under 25
42 21 11 11 0
25 to 34 975 757 50 160 8
35 to 44 2364 1983 80 281 20
45 to 54 2384 1920 124 313 26
55 to 64 1365 1062 60 229 14
65 to 74 586 487 33 67 0
75 and over 214 173 7 27 7
Not reported 333 291 0 42 0
Median 47 47 48 48 49

Race of Owner

White alone
7195 5792 327 1010 66
Black or African American alone 254 224 10 16 5
American Indian or Alaska Native alone 99 77 5 17 0
Asian alone 552 465 16 66 5
Native Hawaiian or Other Pacific
Islander alone
99 85 1 12 0
Two or more races 63 49 6 8 0

Sex of Owner

Male/Male and female co-owners
6933 5627 302 942 61
Female 1330 1066 63 187 15

Hispanic/Latino Origin

Hispanic/Latino owner(s) only
1298 1047 66 178 6
No Hispanic/Latino owner(s) 6965 5645 299 951 70

Veteran Status@1

Veteran
1850 1500 46 285 19
Active member of Reserves or National
Guard for at least 6 years
290 228 12 51 0
Persian Gulf War or after
(August 1990 to present)
174 136 0 37 0
Vietnam or after
(August 1964 to July 1990)
1108 886 35 173 15
Korean conflict or after
(July 1950 to July 1964)
398 341 3 49 5
World War II or after
(September 1940 to June 1950)
168 140 0 24 4
Nonveteran 6053 4880 311 805 57
Not reported 360 313 8 39 0

Income

Less than $5,000
597 455 3 135 3
$5,000 to $9,999 58 39 3 12 3
$10,000 to $14,999 63 55 0 8 0
$15,000 to $19,999 228 184 14 27 3
$20,000 to $24,999 334 303 5 21 5
$25,000 to $29,999 331 302 6 24 0
$30,000 to $34,999 379 321 20 39 0
$35,000 to $39,999 358 266 13 75 3
$40,000 to $49,999 886 711 35 137 3
$50,000 to $59,999 836 716 32 76 12
$60,000 to $79,999 1350 1077 95 173 4
$80,000 to $99,999 991 807 48 124 13
$100,000 to $119,999 710 554 38 112 5
$120,000 or more 1142 902 52 168 20
Median 60911 59913 70654 61439 80274
Mean 76526 74696 77360 86778 81392

Owned Home Previously

Previously owned home
5021 4043 246 671 61
Never owned home before 3017 2453 114 434 16
Not reported 225 196 5 24 0

MORTGAGE CHARACTERISTICS


Method of Loan Application

By computer over the Internet or
by e-mail
98 74 0 24 0
By telephone or FAX 816 674 52 90 0
By regular mail 267 221 0 41 6
By personal visit 4654 3753 235 617 49
Through third party (such as real
estate agent or builder)
1906 1588 57 246 16
Some other way 22 18 0 4 0
Not reported 422 309 22 86 6
Not available 76 55 0 21 0

Origin of First Mortgage

Mortgage made at time property acquired
5423 4414 256 688 64
Mortgage assumed at the time property
acquired
180 133 5 43 0
Mortgage placed later than acquisition of
property
2659 2146 104 398 12
Refinanced mortgage 2501 2012 94 384 12
Same lender 648 506 45 97 0
Different lender 1853 1506 49 287 12
Mortgage placed on property
owned free and clear of debt
158 134 10 14 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
2659 2146 104 398 12
Obtain lower interest rate 1626 1348 53 221 4
Increase payment period for mortgage 16 11 0 6 0
Reduce payment period for mortgage 88 74 0 14 0
Renew or extend loan that had fallen
due, without increasing outstanding
balance
65 57 4 4 0
Receive cash or increase outstanding
balance of loan
769 603 25 133 8
Other reason 37 22 8 7 0
Not reported 58 31 13 14 0
Other properties 5604 4547 261 731 64
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
1267 1012 68 179 8
Less than $20,000 456 363 20 70 3
$20,000 to $39,999 384 296 32 55 0
$40,000 to $59,999 201 181 0 21 0
$60,000 to $79,999 78 60 10 9 0
$80,000 to $99,999 53 44 5 3 0
$100,000 to $124,999 44 31 0 8 5
$125,000 to $149,999 24 21 0 4 0
$150,000 to $174,999 14 10 0 4 0
$175,000 to $199,999 0 0 0 0 0
$200,000 to $249,999 7 7 0 0 0
$250,000 to $299,999 5 0 0 5 0
$300,000 or more 0 0 0 0 0
Median 29269 29695 28749 27015 103807
Mean 36024 35726 30968 38372 63082
Properties that refinanced
and did not receive cash back
1159 963 32 160 4
Properties that refinanced
and did not report if received
cash back
233 170 4 59 0
Properties that did not
refinance
5604 4547 261 731 64
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
1267 1012 68 179 8
For additions, improvements or repairs
to this property
592 456 37 91 8
To consolidate debts 567 467 39 56 5
For investment in other real estate 115 87 0 23 5
For other types of investments 93 73 11 10 0
For educational or medical expenses 85 73 0 12 0
To start a business 49 26 0 23 0
To settle a divorce 16 12 0 3 0
To pay taxes 40 40 0 0 0
To purchase an automobile, truck, or
other vehicle
177 150 11 16 0
To purchase consumer product other than
automobile, truck, or other vehicle
38 31 0 7 0
Other 18 9 0 4 5
Not reported 18 18 0 0 0
Properties that refinanced
and did not receive cash back
1159 963 32 160 4
Properties that refinanced
and did not report if received
cash back
233 170 4 59 0
Properties that did not
refinance
5604 4547 261 731 64
Not available 0 0 0 0 0

Year First Mortgage Made or
Assumed

1999 to 2001 (part)
3272 2654 133 452 32
1997 and 1998 2026 1741 87 179 19
1995 and 1996 922 726 52 141 3
1990 to 1994 1328 1036 54 219 18
1985 to 1989 378 296 20 63 0
1980 to 1984 144 87 6 52 0
1979 or earlier 192 152 14 22 4

First Mortgage Insurance Status

FHA-insured first mortgage
908 745 39 120 4
VA-guaranteed first mortgage 230 188 6 36 0
Rural Housing Service-Rural Development-
insured or -guaranteed first mortgage
189 164 18 3 4
Other federal, state, or local
government-insured or guaranteed
first mortgage
203 138 30 32 3
Insured conventional first mortgage 1030 890 27 102 11
Uninsured conventional first mortgage 5702 4567 247 835 53
Not reported 0 0 0 0 0

Traditional First Mortgage Loan

Less than $20,000
127 114 0 9 4
$20,000 to $29,999 208 147 22 39 0
$30,000 to $39,999 205 168 18 19 0
$40,000 to $49,999 215 174 5 36 0
$50,000 to $59,999 511 406 19 77 9
$60,000 to $79,999 1002 791 55 147 8
$80,000 to $99,999 1014 863 48 103 0
$100,000 to $149,999 2118 1806 86 205 21
$150,000 to $199,999 1255 1030 54 147 24
$200,000 to $249,999 684 545 16 120 3
$250,000 to $299,999 292 217 3 64 7
$300,000 or more 560 363 38 159 0
Not reported 73 68 0 5 0
Median 119216 117967 108443 132458 141440
Mean 141662 137438 137517 168512 132720

Total Mortgage Loan

Less than $20,000
121 108 0 9 4
$20,000 to $29,999 169 129 10 30 0
$30,000 to $39,999 192 159 18 15 0
$40,000 to $49,999 204 165 11 28 0
$50,000 to $59,999 442 364 6 63 9
$60,000 to $79,999 927 731 52 141 3
$80,000 to $99,999 1006 810 66 125 4
$100,000 to $149,999 2084 1786 86 194 18
$150,000 to $199,999 1352 1119 59 147 27
$200,000 to $249,999 724 585 11 125 3
$250,000 to $299,999 322 238 9 68 7
$300,000 or more 653 435 38 179 0
Not reported 67 62 0 5 0
Median 124869 123750 111560 138899 149385
Mean 149267 144635 144593 178950 136908

Traditional First Mortgage Outstanding
Debt

Less than $10,000
166 155 0 7 4
$10,000 to $19,999 182 142 12 28 0
$20,000 to $29,999 290 222 15 53 0
$30,000 to $39,999 251 193 18 41 0
$40,000 to $49,999 422 340 13 63 5
$50,000 to $59,999 467 370 15 77 4
$60,000 to $79,999 1005 836 51 110 8
$80,000 to $99,999 1064 868 66 121 8
$100,000 to $149,999 1944 1678 79 168 18
$150,000 to $199,999 1156 928 41 166 22
$200,000 to $249,999 532 421 12 95 3
$250,000 to $299,999 228 159 3 62 4
$300,000 or more 488 317 38 133 0
Not reported 69 64 0 5 0
Median 106468 105612 97473 118515 125094
Mean 129757 125438 128735 155915 124695

Total Mortgage Outstanding Debt

Less than $10,000
148 141 0 4 4
$10,000 to $19,999 155 128 0 27 0
$20,000 to $29,999 247 193 15 39 0
$30,000 to $39,999 248 201 18 29 0
$40,000 to $49,999 363 302 5 51 5
$50,000 to $59,999 438 341 15 78 4
$60,000 to $79,999 974 785 69 117 3
$80,000 to $99,999 1053 838 69 134 13
$100,000 to $149,999 1923 1680 74 154 15
$150,000 to $199,999 1277 1022 46 187 22
$200,000 to $249,999 544 442 12 84 7
$250,000 to $299,999 279 199 3 73 4
$300,000 or more 548 363 38 147 0
Not reported 64 59 0 5 0
Median 112275 111549 97584 127051 130741
Mean 135854 131053 135484 164949 128187

Current Interest Rate on First Mortgage

Less than 6.0 percent
2449 1610 299 483 57
6.0 percent 113 96 0 18 0
6.1 to 6.4 percent 200 135 0 65 0
6.5 to 6.9 percent 902 768 0 127 8
7.0 percent 874 779 0 94 0
7.1 to 7.4 percent 617 551 11 52 3
7.5 to 7.9 percent 823 746 0 73 4
8.0 percent 299 271 3 22 3
8.1 to 8.4 percent 191 161 5 24 0
8.5 to 8.9 percent 172 157 3 12 0
9.0 percent 83 68 9 5 0
9.1 to 9.4 percent 69 55 0 14 0
9.5 to 9.9 percent 111 84 10 17 0
10.0 percent 30 30 0 0 0
10.1 to 10.4 percent 39 28 0 12 0
10.5 to 10.9 percent 51 37 0 14 0
11.0 percent 87 87 0 0 0
11.1 to 12.9 percent 122 82 14 26 0
13.0 percent 20 20 0 0 0
13.1 percent or more 1010 928 10 72 0
Not reported 0 0 0 0 0
Median 7.1 7.1 3.7 6.5 4.0

Type of Interest Rate Buydown

Properties with interest rate
buydown
363 306 0 57 0
Constant payment 0 0 0 0 0
3-2-1 buydown 0 0 0 0 0
Other 14 14 0 0 0
Not reported 349 292 0 57 0
Properties without interest
rate buydown
3278 2822 21 420 15
Not reported 4622 3565 344 652 61

Term of First Mortgage

Less than 5 years
5 5 0 0 0
5 years 16 5 11 0 0
6 to 9 years 13 7 6 0 0
10 years 78 71 4 3 0
11 to 14 years 0 0 0 0 0
15 years 646 625 0 21 0
16 to 19 years 17 13 0 0 4
20 years 48 48 0 0 0
21 to 24 years 0 0 0 0 0
25 years 16 12 0 4 0
26 to 29 years 14 14 0 0 0
30 years 3720 3080 45 584 11
More than 30 years 67 51 0 16 0
No stated term 3623 2762 299 501 61
Median 30 30 30 30 30

Unexpired Term of First Mortgage

Less than 5 years
91 66 21 3 0
5 to 9 years 321 291 0 30 0
10 to 14 years 440 421 0 19 0
15 to 19 years 213 165 5 38 4
20 to 24 years 609 492 15 99 3
25 to 29 years 2398 2054 18 322 3
30 or more years 568 442 6 116 4
No stated term or not computed 3623 2762 299 501 61
Median 26 26 22 27 25

Holder of First Mortgage

Commercial bank or trust company
1089 806 83 185 16
Savings and loan association, federal
savings bank
765 497 37 217 14
Mutual savings bank 85 69 5 11 0
Life insurance company 95 70 0 22 3
Mortgage banker or mortgage company 1195 1012 9 174 0
Federally-sponsored secondary market
agency or pool
3734 3179 169 359 26
Conventional mortgage pool 141 134 0 7 0
Other federal agency 178 149 3 21 6
Real estate investment trust 3 3 0 0 0
Pension or retirement fund 10 8 0 3 0
Credit union 290 231 10 49 0
Finance company 125 89 4 28 4
State or municipal government or
housing finance agency
291 223 20 41 7
Individual or individual's estate 109 87 15 7 0
Other 153 135 11 7 0

First Mortgage Loan as a Percent of
Purchase Price

Properties acquired by
purchase with first mortgage
made or assumed at time of
purchase
5498 4465 258 711 64
Less than 40 percent 213 180 6 27 0
40 to 49 percent 127 103 6 19 0
50 to 59 percent 172 153 0 19 0
60 to 69 percent 583 494 25 56 7
70 to 79 percent 651 502 20 114 16
80 to 89 percent 1017 783 44 171 19
90 to 94 percent 490 429 17 37 7
95 to 99 percent 666 580 28 53 3
100 percent or more 1511 1182 112 205 12
Not reported 67 58 0 10 0
Median 90 90 97 87 85
Other properties 2764 2228 107 417 12
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
5498 4465 258 711 64
Less than 40 percent 249 226 6 13 4
40 to 49 percent 106 85 6 16 0
50 to 59 percent 192 164 0 28 0
60 to 69 percent 1325 1090 51 170 15
70 to 79 percent 787 642 11 118 16
80 to 89 percent 827 638 35 134 19
90 to 94 percent 437 371 21 41 3
95 to 99 percent 561 470 20 67 3
100 percent or more 952 721 107 119 4
Not reported 63 58 0 5 0
Median 81 80 95 81 79
Other properties 2764 2228 107 417 12
Not available 0 0 0 0 0

First Mortgage Risk

Subprime loan
403 257 27 104 15
Not subprime loan 7859 6436 338 1025 61
Not reported 0 0 0 0 0

Index Used to Adjust Interest Rate
on ARM

Properties with adjustable
rate first mortgage
1198 0 0 1129 69
Treasury security 190 0 0 190 0
Average cost of funds in bank district 123 0 0 123 0
National average cost of funds 0 0 0 0 0
OTS contract mortgage rate 0 0 0 0 0
Other method 108 0 0 104 4
No index used 31 0 0 23 8
Not reported 747 0 0 689 58
Other properties 7064 6693 365 0 7
Not reported 0 0 0 0 0

Frequency With Which Rate Can Be
Adjusted

Properties with adjustable
rate first mortgage
1198 0 0 1129 69
Monthly 164 0 0 164 0
Every 3 months 12 0 0 12 0
Every 6 months 70 0 0 70 0
Yearly 230 0 0 227 3
Every 3 years 0 0 0 0 0
Every 5 years 6 0 0 6 0
Other 3 0 0 3 0
Not reported 713 0 0 647 66
Other properties 7064 6693 365 0 7
Not reported 0 0 0 0 0

Caps on Interest Rate Per Adjustment
Period

Properties with adjustable
rate first mortgage
1198 0 0 1129 69
Less than 1 percent 3 0 0 3 0
1 percent 0 0 0 0 0
1.1 to 1.9 percent 29 0 0 29 0
2 percent 111 0 0 111 0
2.1 to 2.9 percent 10 0 0 10 0
3 percent 7 0 0 7 0
3.1 to 3.9 percent 41 0 0 41 0
4.0 percent or more 108 0 0 108 0
No caps 161 0 0 154 8
Not reported 728 0 0 666 62
Other properties 7064 6693 365 0 7
Not reported 0 0 0 0 0

Caps on Interest Rate Over Life of ARM

Properties with adjustable
rate first mortgage
1198 0 0 1129 69
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 4 0 0 4 0
2.1 to 2.9 percent 4 0 0 4 0
3 percent 0 0 0 0 0
3.1 to 3.9 percent 0 0 0 0 0
4.0 percent or more 363 0 0 363 0
No caps 61 0 0 57 4
Not reported 767 0 0 702 65
Other properties 7064 6693 365 0 7
Not reported 0 0 0 0 0

Interest Rate Changed Since
Mortgage Made

Properties with adjustable
rate first mortgage
1198 0 0 1129 69
Yes, rate has changed 308 0 0 304 3
No change since mortgage made 167 0 0 163 4
Not reported 723 0 0 661 62
Other properties 7064 6693 365 0 7
Not reported 0 0 0 0 0

Percentage of Margin Over Index on ARM

Properties with adjustable rate
first mortgage
1198 0 0 1129 69
Less than 1 percent 5 0 0 5 0
1 percent 0 0 0 0 0
1.1 to 1.9 percent 6 0 0 6 0
2 percent 90 0 0 90 0
2.1 to 2.9 percent 275 0 0 275 0
3 percent 28 0 0 28 0
3.1 to 3.9 percent 18 0 0 18 0
4 percent 0 0 0 0 0
4.1 to 4.9 percent 10 0 0 10 0
5 percent or more 32 0 0 32 0
Not reported 734 0 0 665 69
Median 2.5 0.0 0.0 2.5 0.0
Other properties 7064 6693 365 0 7
Not reported 0 0 0 0 0

ARM Convertible to Fixed Rate Mortgage

Properties with adjustable rate
first mortgage
1198 0 0 1129 69
Can be converted 31 0 0 28 3
Cannot be converted 342 0 0 342 0
Not reported 825 0 0 759 66
Other properties 7064 6693 365 0 7
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
26 0 0 22 4
Payments can change monthly 15 0 0 15 0
Payments can change every three months 0 0 0 0 0
Payments can change every six months 4 0 0 4 0
Payments can change yearly 4 0 0 4 0
Payments can change every 3 years 0 0 0 0 0
Payments can change every 5 years 4 0 0 0 4
Other 0 0 0 0 0
Not reported 0 0 0 0 0
Monthly payments cannot
change
7527 6693 365 459 10
Not reported 709 0 0 647 62

First Mortgage Allows for Negative
Amortization

Monthly payments can change
(other than change in interest
rate)
26 0 0 22 4
Yes, unrestricted negative amortization 0 0 0 0 0
Yes, restricted negative amortization 14 0 0 14 0
No negative amortization allowed 13 0 0 8 4
Not reported 0 0 0 0 0
Monthly payments cannot change 7527 6693 365 459 10
Not reported 709 0 0 647 62

MORTGAGE PAYMENTS AND OTHER EXPENSES


Method of Payment of First Mortgage

Regular payments of interest
and/or principal
8058 6544 357 1085 73
Interest and principal 8035 6539 352 1075 69
Fully amortized 6987 5961 0 973 53
Not fully amortized 1048 578 352 102 16
Interest only 23 5 4 10 3
No regular payments required 40 21 0 16 3
Not reported 164 128 9 28 0

Items Included in First Mortgage
Payment@1

Regular monthly payments of
both interest and principal
8035 6539 352 1075 69
Real estate taxes 2671 2393 13 257 8
Property insurance 2477 2239 13 218 8
Mortgage insurance 806 729 6 64 8
Other 938 842 0 92 4
No items included or not reported 5234 4045 339 793 58
No regular payments of interest
and principal
228 154 13 54 7

Monthly Interest and Principal Payments
on First Mortgage

Monthly payments of interest
and/or principal
8058 6544 357 1085 73
Less than $100 33 33 0 0 0
$100 to $199 119 75 10 31 4
$200 to $299 222 208 0 14 0
$300 to $399 422 332 23 62 4
$400 to $499 427 367 19 38 3
$500 to $599 644 513 6 126 0
$600 to $699 705 572 55 69 10
$700 to $799 744 582 60 97 4
$800 to $899 637 557 22 51 7
$900 to $999 604 516 25 63 0
$1,000 to $1,249 1194 976 54 148 16
$1,250 to $1,499 762 651 20 79 11
$1,500 or more 1545 1162 63 307 13
Median 913 906 827 987 1063
Mean 1102 1080 1115 1235 1004
No regular payments required 40 21 0 16 3
Not reported 164 128 9 28 0

Current First Mortgage Payment Status

Regular monthly payments of
principal and/or interest
8223 6672 365 1113 73
Up-to-date, ahead of schedule, or
less than 90 days past due
3967 3435 21 496 15
Delinquent by 90 days or more 84 60 0 25 0
Legal proceedings have begun 36 20 0 16 0
Legal proceedings have not begun 23 15 0 9 0
Not reported 25 25 0 0 0
Not reported 4171 3177 344 592 58
Other properties 40 21 0 16 3

Monthly Interest and Principal Payments
on Total Mortgages

Regular monthly payments of
interest and/or principal
8083 6563 357 1091 73
Less than $100 37 37 0 0 0
$100 to $199 101 72 4 21 4
$200 to $299 208 193 0 14 0
$300 to $399 376 299 23 49 4
$400 to $499 391 335 17 35 3
$500 to $599 582 476 6 101 0
$600 to $699 688 552 52 74 10
$700 to $799 692 545 45 102 0
$800 to $899 595 522 13 53 8
$900 to $999 629 528 30 71 0
$1,000 to $1,249 1189 958 79 136 16
$1,250 to $1,499 825 710 20 80 14
$1,500 or more 1771 1337 68 353 13
Median 959 947 963 1044 1115
Mean 1175 1152 1190 1318 1045
No regular monthly payments
required
179 129 9 38 3

Interest and Principal Payments on
Total Mortgages as Percent of Income

Regular monthly payments of
interest and/or principal
8083 6563 357 1091 73
Less than 5 percent 219 168 4 43 4
5 to 9 percent 866 714 44 93 15
10 to 14 percent 1569 1309 67 179 14
15 to 19 percent 1415 1121 91 181 21
20 to 24 percent 1221 1010 62 149 0
25 to 29 percent 723 583 43 97 0
30 to 34 percent 537 443 17 72 5
35 to 39 percent 285 231 4 47 3
40 to 49 percent 317 272 4 36 4
50 percent or more 453 351 20 79 3
Not reported or not computed 479 360 0 115 3
Median 19 19 18 20 15
No regular monthly payments
required
179 129 9 38 3

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