U.S. Department of Commerce

Residential Finance Survey

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Residential Finance Survey: 2001 - United States
Table 2-3a. Mortgage Insurance Status, 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.
@4Includes first mortgages that are insured by state and local governments with or without FHA insurance, VA, or Rural Housing Service/Rural Development guarantees^^

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
36410 3985 1055 786 869 4426 25289

PROPERTY CHARACTERISTICS


Property Location by Geographic Area

Inside MAs
30402 3482 943 568 712 3777 20921
In central cities 8815 1216 322 137 208 1211 5721
Not in central cities 21588 2265 622 431 503 2566 15200
Outside MAs 6008 504 111 218 157 649 4369

Manner of Acquisition

By purchase
35481 3911 1013 775 842 4330 24611
Placed one new mortgage 32878 3722 931 706 812 4089 22617
Placed two or more new mortgages 938 47 17 16 11 115 732
Assumed mortgage(s) already on property 886 83 42 49 15 81 616
Assumed mortgage(s) already on property
and placed new mortgage
171 12 9 3 0 10 136
Borrowed using assets other than this
property as collateral
135 6 10 0 5 4 110
Paid all cash-no borrowing 403 31 4 0 0 27 341
Other manner 70 9 0 0 0 3 58
By inheritance or gift 504 33 16 0 17 43 395
By divorce 67 9 6 0 0 4 49
By some other manner 48 4 0 0 0 0 44
Not reported 310 30 20 11 10 49 190

Source of Downpayment@1

Properties purchased
1995 to 2001 (part)
18579 2450 532 299 421 2858 12020
Sale of previous home 5879 311 84 73 130 931 4351
Sale of other real property or other
investments
908 88 7 16 15 122 660
Savings 9636 1506 224 108 195 1592 6010
Borrowing from a retirement plan 810 160 26 12 14 139 460
Borrowing using assets other than this
property as collateral
423 47 7 14 28 51 277
Proceeds from an insurance policy 120 17 4 0 0 19 80
Payments in a lease-purchase agreement 143 9 3 7 5 7 111
From a state or local government source 263 80 36 8 6 28 106
From a non-profit organization 34 0 0 6 0 0 29
From parents or relatives 1846 339 31 38 46 304 1087
Other 88 12 0 0 9 15 51
No downpayment required 1354 215 157 48 43 156 735
Not reported 392 48 8 10 9 41 275
Other properties 17661 1506 519 483 443 1543 13167
Not reported 170 30 4 4 5 25 103

Year Property Acquired

1999 to 2001 (part)
8716 1304 206 133 219 1397 5458
1997 and 1998 6110 758 202 106 110 958 3977
1995 and 1996 4212 446 140 65 100 559 2903
1990 to 1994 7133 643 259 188 153 705 5185
1985 to 1989 4397 392 85 159 129 395 3237
1980 to 1984 2247 169 60 66 32 149 1771
1975 to 1979 2049 170 64 49 92 129 1545
1970 to 1974 909 70 27 5 15 93 699
1969 or earlier 636 34 12 15 18 41 514

Building and Land Acquisition

Acquired at same time
33017 3785 1002 707 767 4115 22642
Not acquired at same time 2736 85 32 50 89 238 2242
Land not owned by building owner 347 66 8 13 5 36 220
Not reported 311 49 13 17 8 37 186

Property New or Previously Occupied When
Acquired

Acquired by purchase
35481 3911 1013 775 842 4330 24611
New 8913 654 225 211 207 995 6621
Previously occupied by someone else 26380 3239 779 560 617 3326 17858
Converted from non-residential use 18 0 0 0 4 0 15
Other 31 4 0 0 8 0 19
Not reported 139 13 8 4 7 9 98
Other properties 619 45 22 0 17 47 488
Not reported 310 30 20 11 10 49 190

Year Structure Built

1999 to March 2000
1911 238 58 33 35 330 1216
1997 and 1998 2157 211 63 42 36 335 1471
1995 and 1996 1880 160 55 28 20 296 1322
1990 to 1994 3660 273 152 112 83 436 2603
1980 to 1989 6407 703 175 172 139 727 4491
1970 to 1979 6076 759 174 186 211 652 4093
1960 to 1969 3788 373 101 64 99 412 2738
1950 to 1959 4389 561 156 49 104 537 2982
1940 to 1949 1965 282 31 39 31 182 1399
1939 or earlier 4176 424 88 61 111 519 2973

Purchase Price

Properties acquired by
purchase 1997 to 2001 (part)
14477 2020 392 235 324 2303 9204
Less than $20,000 287 22 0 9 4 20 232
$20,000 to $39,999 729 106 4 13 25 72 508
$40,000 to $59,999 1084 223 27 29 37 113 654
$60,000 to $79,999 1605 383 47 35 37 238 866
$80,000 to $99,999 1796 413 65 29 31 302 957
$100,000 to $124,999 1813 318 72 24 29 281 1089
$125,000 to $149,999 1822 268 78 19 55 349 1053
$150,000 to $174,999 1330 111 38 25 18 263 875
$175,000 to $199,999 840 95 30 9 22 140 545
$200,000 to $249,999 1138 38 16 9 30 169 876
$250,000 to $299,999 717 10 5 21 4 139 539
$300,000 to $499,999 967 22 7 13 17 179 728
$500,000 or more 349 10 3 0 15 37 284
Median 123967 93332 118492 102924 124049 133929 132057
Mean 155516 107267 127581 126332 160928 160321 166645
Other properties 21933 1966 663 551 545 2123 16085

Value

Less than $20,000
285 41 6 19 0 21 199
$20,000 to $39,999 1051 134 15 41 44 97 720
$40,000 to $59,999 2317 318 69 131 105 210 1484
$60,000 to $79,999 3569 590 151 101 95 385 2248
$80,000 to $99,999 4371 780 153 111 99 527 2701
$100,000 to $124,999 4223 586 157 86 71 551 2773
$125,000 to $149,999 4235 511 154 50 121 592 2807
$150,000 to $174,999 3482 350 96 36 54 429 2518
$175,000 to $199,999 2476 281 74 29 53 300 1738
$200,000 to $249,999 3117 177 103 59 58 436 2283
$250,000 to $299,999 2167 80 34 20 29 244 1760
$300,000 to $499,999 3487 99 35 69 82 444 2758
$500,000 or more 1630 38 7 34 59 190 1302
Median 139102 105548 121279 98343 129484 142822 147440
Mean 182092 123634 136064 156854 180078 182308 194040

Purchase Price as Percent of Value@8

Acquired by purchase
35481 3911 1013 775 842 4330 24611
Purchased 1997 to 2001 (part) 14477 2020 392 235 324 2303 9204
Less than 60 percent 1279 83 4 21 23 140 1009
60 to 69 percent 1130 133 8 32 15 184 759
70 to 79 percent 1826 299 80 35 29 250 1133
80 to 99 percent 7380 1060 210 82 172 1281 4575
100 percent or more 2841 445 90 64 86 444 1713
Median 88 89 90 87 91 89 87
Purchased 1990 to 1996 (part) 11052 1068 387 245 239 1243 7869
Less than 40 percent 676 23 15 23 12 49 553
40 to 59 percent 1595 113 27 22 48 157 1228
60 to 79 percent 3991 408 147 70 51 446 2869
80 to 99 percent 3394 384 147 78 91 476 2217
100 percent or more 1374 130 51 52 37 115 990
Median 76 79 81 82 82 79 75
Purchased 1989 or earlier 9952 823 234 295 278 784 7538
Less than 20 percent 1336 71 24 31 46 99 1065
20 to 39 percent 2312 127 51 33 72 158 1871
40 to 59 percent 2539 218 72 42 60 210 1936
60 to 79 percent 1883 216 54 86 30 176 1321
80 to 99 percent 814 101 10 55 30 61 556
100 percent or more 1049 90 23 48 31 80 779
Median 50 60 52 70 46 53 49
Not acquired by purchase 929 75 42 11 27 96 678

Value-Income Ratio

Less than 1.0
2389 284 66 55 53 262 1669
1.0 to 1.4 4818 606 178 100 93 602 3239
1.5 to 1.9 6216 730 221 119 193 919 4033
2.0 to 2.4 5543 626 197 125 107 759 3729
2.5 to 2.9 4072 488 97 63 101 512 2812
3.0 to 3.4 2616 270 69 54 48 296 1879
3.5 to 3.9 1794 183 68 16 31 175 1321
4.0 or more 6171 514 109 191 170 606 4581
Not reported or not computed 2791 283 51 63 73 294 2028
Median 2.3 2.2 2.1 2.4 2.3 2.2 2.4

Value of Capital Improvements

Properties with capital
improvements between 1998
and 2000
20429 2223 602 381 407 2459 14357
Less than $500 308 34 4 4 17 52 198
$500 to $999 671 89 11 9 21 73 468
$1,000 to $2,499 3306 430 104 75 73 481 2141
$2,500 to $4,999 3298 420 167 77 61 382 2191
$5,000 to $7,499 3843 478 122 43 59 459 2683
$7,500 to $9,999 1129 109 27 14 29 152 798
$10,000 to $14,999 2624 276 51 34 59 348 1856
$15,000 to $19,999 1435 131 35 31 28 178 1031
$20,000 to $29,999 1875 154 48 64 37 179 1392
$30,000 or more 1941 102 32 30 25 155 1598
Median 6712 5725 5299 6471 6391 6313 7031
Mean 12852 8373 9493 11265 13060 10429 14138
Properties with no capital
improvements between 1998 and 2000
12646 1366 401 304 355 1578 8643
Capital improvements not
reported
3335 396 52 101 106 390 2290

Age Restrictions

Property located in subdivision
restricted to people age 55 or older
1987 261 76 32 57 244 1317
Property located in subdivision not
restricted to people age 55 or older
32987 3569 936 712 766 4030 22973
Not reported 1436 156 42 42 46 152 999

Neighborhood Composition

Property located in subdivision or
neighborhood occupied predominantly by
people age 55 or older
2589 301 93 45 57 207 1886
Property located in subdivision or
neighborhood not occupied predominantly
by people age 55 or older
24263 2558 692 552 538 3046 16876
Don't know or not reported 9558 1126 269 189 274 1173 6528

Type of Property Benefits@1

Government-sponsored below-market
interest rate mortgage loan
495 113 21 52 17 58 233
Other government grant or subsidy 193 46 6 42 0 12 87
Property tax relief 1633 132 55 24 17 134 1271
Subsidy from a non-profit corporation 40 6 0 5 0 4 25
None of the above benefits 27506 2745 742 466 664 3470 19419
Not reported 6587 956 235 201 170 752 4273

Source of Property Benefits@1

With property benefits
2317 284 78 119 35 204 1597
Federal government 467 106 16 84 16 21 224
State government 1019 98 49 12 11 102 747
Local government 694 68 20 21 11 65 509
Non-profit corporation 40 6 0 5 0 4 25
Not reported 190 21 0 6 0 17 146
With no property benefits 27506 2745 742 466 664 3470 19419
Not reported 6587 956 235 201 170 752 4273

Reason for Benefits@1

With property benefits
2317 284 78 119 35 204 1597
Occupied by low- or moderate-income
individuals
511 85 14 73 3 43 293
Occupied by elderly or disabled
individuals
253 20 3 14 7 12 197
A historic structure 27 6 0 0 0 4 17
Located in a community development or
economic development area
151 40 0 6 8 14 83
Covered by a Homestead Exemption 1008 93 37 34 7 85 751
Covered by a Community Land Trust 5 0 0 0 0 0 5
Covered by disaster relief 25 0 0 5 5 0 15
Other reason 468 70 23 11 8 43 314
Not reported 127 15 4 0 0 14 93
With no property benefits 27506 2745 742 466 664 3470 19419
Not reported 6587 956 235 201 170 752 4273

OWNER CHARACTERISTICS


Owner Status

1 owner
11431 1449 320 333 250 1362 7717
2 owners 24552 2469 731 438 609 3008 17296
3 or more owners 428 67 4 15 10 56 276

Age of Owner

Under 25
328 78 6 6 26 47 165
25 to 34 5182 934 142 97 121 874 3015
35 to 44 10436 1155 317 245 206 1394 7119
45 to 54 10399 952 243 235 251 1167 7551
55 to 64 5579 469 214 66 135 520 4174
65 to 74 2178 143 65 51 43 182 1694
75 and over 668 56 20 29 22 61 479
Not reported 1640 198 47 58 64 181 1093
Median 46 43 47 46 47 44 47

Race of Owner

White alone
31761 3319 892 651 762 3807 22329
Black or African American alone 2840 521 137 94 74 346 1668
American Indian or Alaska Native alone 194 33 6 0 8 15 132
Asian alone 1241 84 13 38 21 187 897
Native Hawaiian or Other Pacific
Islander alone
115 5 1 0 0 17 92
Two or more races 260 24 5 3 3 54 170

Sex of Owner

Male/Male and female co-owners
30105 3125 939 577 721 3740 21003
Female 6305 860 115 209 147 686 4286

Hispanic/Latino Origin

Hispanic/Latino owner(s) only
2927 557 70 94 61 325 1821
No Hispanic/Latino owner(s) 33483 3429 984 692 808 4101 23469

Veteran Status@1

Veteran
7576 551 686 108 131 787 5313
Active member of Reserves or National
Guard for at least 6 years
1327 108 97 28 27 133 934
Persian Gulf War or after
(August 1990 to present)
881 76 214 5 18 74 494
Vietnam or after
(August 1964 to July 1990)
4437 352 469 60 76 461 3020
Korean conflict or after
(July 1950 to July 1964)
1503 87 70 14 33 146 1153
World War II or after
(September 1940 to June 1950)
555 39 20 17 10 46 422
Nonveteran 26861 3240 288 631 662 3410 18629
Not reported 1973 194 81 46 75 229 1348

Income

Less than $5,000
3018 314 54 66 76 325 2182
$5,000 to $9,999 331 50 14 28 6 24 209
$10,000 to $14,999 595 55 36 29 25 19 431
$15,000 to $19,999 889 76 16 48 22 79 648
$20,000 to $24,999 1244 152 18 51 48 100 876
$25,000 to $29,999 1574 262 37 79 63 173 960
$30,000 to $34,999 1738 283 41 67 25 190 1132
$35,000 to $39,999 1668 248 68 23 53 198 1078
$40,000 to $49,999 3858 633 155 69 93 501 2408
$50,000 to $59,999 3717 496 112 74 95 447 2494
$60,000 to $79,999 6352 723 217 92 122 857 4341
$80,000 to $99,999 4089 349 143 34 99 555 2910
$100,000 to $119,999 2629 181 98 62 50 310 1927
$120,000 or more 4709 163 48 64 92 648 3695
Median 58852 48716 58052 40264 52476 63669 61050
Mean 72951 53371 63482 56081 74927 77780 76043

Owned Home Previously

Previously owned home
20301 1519 524 333 444 2505 14976
Never owned home before 14820 2333 498 410 374 1767 9437
Not reported 1290 134 33 42 51 154 876

MORTGAGE CHARACTERISTICS


Number of Mortgages

1 mortgage
27072 3194 748 628 666 3359 18477
2 mortgages 8311 656 267 146 190 962 6090
3 or more mortgages 1027 136 39 12 14 105 722

Form of Debt of First Mortgage

Mortgage or deed of trust
36410 3985 1055 786 869 4426 25289
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
270 4 7 0 5 58 196
By telephone or FAX 3579 329 74 33 95 441 2608
By regular mail 895 89 25 18 28 88 647
By personal visit 22198 2308 520 521 512 2680 15657
Through third party (such as real
estate agent or builder)
6531 997 367 156 173 885 3952
Some other way 102 11 0 5 3 5 77
Not reported 2474 196 36 21 46 231 1944
Not available 361 52 26 32 6 39 207

Origin of First Mortgage

Mortgage made at time property acquired
25921 3257 839 624 654 3466 17081
Mortgage assumed at the time property
acquired
704 88 29 42 6 62 477
Mortgage placed later than acquisition of
property
9785 640 186 120 210 897 7732
Refinanced mortgage 8890 584 182 117 174 845 6987
Same lender 2568 182 77 34 51 183 2041
Different lender 6321 402 105 83 123 662 4946
Mortgage placed on property
owned free and clear of debt
896 56 4 3 35 52 745
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
9785 640 186 120 210 897 7732
Obtain lower interest rate 5976 437 124 89 103 576 4647
Increase payment period for mortgage 83 0 0 6 3 15 59
Reduce payment period for mortgage 264 12 4 6 0 12 229
Renew or extend loan that had fallen
due, without increasing outstanding
balance
203 23 5 0 9 21 145
Receive cash or increase outstanding
balance of loan
2713 126 31 20 70 229 2236
Other reason 277 23 6 0 6 11 232
Not reported 269 19 15 0 18 34 184
Other properties 26625 3345 868 666 659 3529 17557
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
4300 244 58 35 83 393 3488
Less than $20,000 1711 150 32 13 53 199 1263
$20,000 to $39,999 1300 40 10 16 17 81 1136
$40,000 to $59,999 552 24 12 6 5 51 454
$60,000 to $79,999 255 9 0 0 3 27 215
$80,000 to $99,999 173 13 0 0 0 11 149
$100,000 to $124,999 140 3 3 0 0 0 133
$125,000 to $149,999 50 5 0 0 0 5 41
$150,000 to $174,999 57 0 0 0 0 10 47
$175,000 to $199,999 18 0 0 0 0 3 15
$200,000 to $249,999 25 0 0 0 3 4 19
$250,000 to $299,999 15 0 0 0 0 0 15
$300,000 or more 5 0 0 0 0 3 2
Median 26754 16251 17869 25591 15475 19725 28468
Mean 35604 25484 24625 22409 25312 39152 36470
Properties that refinanced
and did not receive cash back
4630 347 118 64 101 434 3566
Properties that refinanced
and did not report if received
cash back
855 49 11 22 26 70 678
Properties that did not
refinance
26625 3345 868 666 659 3529 17557
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
4300 244 58 35 83 393 3488
For additions, improvements or repairs
to this property
2032 89 34 18 55 176 1659
To consolidate debts 1992 125 24 20 32 171 1621
For investment in other real estate 307 8 0 0 0 36 263
For other types of investments 270 10 0 6 0 36 218
For educational or medical expenses 336 17 0 0 0 62 257
To start a business 99 7 10 0 0 8 73
To settle a divorce 113 8 0 0 0 0 105
To pay taxes 126 3 0 0 0 8 114
To purchase an automobile, truck, or
other vehicle
414 19 7 0 0 61 327
To purchase consumer product other than
automobile, truck, or other vehicle
124 24 0 4 0 9 88
Other 103 5 0 0 12 6 80
Not reported 52 4 0 0 0 0 48
Properties that refinanced
and did not receive cash back
4630 347 118 64 101 434 3566
Properties that refinanced
and did not report if received
cash back
855 49 11 22 26 70 678
Properties that did not
refinance
26625 3345 868 666 659 3529 17557
Not available 0 0 0 0 0 0 0

Purpose of Second Mortgage

Properties with second
mortgage
4128 415 181 72 84 461 2916
Provide funds for the purchase of this
property
482 41 14 15 8 58 346
Provide funds for additions,
improvements or repairs to this
property
971 118 43 24 23 133 630
Provide funds for consolidation of debts 1004 93 70 16 30 116 678
Provide funds for investment in other
real estate
86 0 0 0 0 21 65
Provide funds for other types of
investments
61 0 0 4 0 4 53
Provide funds for educational or
medical expenses
53 6 4 0 0 4 39
Provide funds for starting a business 101 14 4 0 4 10 69
Provide funds to settle a divorce 34 0 0 0 0 4 30
Provide funds to pay taxes 38 11 0 0 0 3 24
Provide funds to purchase automobile,
truck, or vehicle
125 0 9 0 3 9 104
Provide funds to purchase another type
of consumer product
29 0 4 0 4 0 21
Other reasons 38 11 0 5 0 0 22
Not reported 1107 123 33 8 12 98 835
Other properties 32282 3570 874 714 785 3966 22373

Purpose of Home Equity Line of Credit

Properties with home equity
line of credit
6198 507 164 99 130 707 4591
Provide funds for additions,
improvements or repairs to this
property
1937 132 48 37 56 215 1449
Provide funds for consolidation of debts 1243 146 39 24 20 173 840
Provide funds for investment in other
real estate
122 4 3 0 0 8 107
Provide funds for other types of
investments
148 12 0 0 4 15 118
Provide funds for educational or
medical expenses
166 11 4 4 4 23 121
Provide funds for starting a business 96 7 9 0 7 11 61
Provide funds to settle a divorce 19 0 0 0 0 7 12
Provide funds to pay taxes 52 0 4 0 3 15 29
Provide funds to purchase automobile,
truck, or vehicle
401 18 7 11 0 33 332
Provide funds to purchase another type
of consumer product
70 3 4 0 0 13 50
Other reasons 146 5 0 0 9 14 118
Not reported 1798 169 47 23 27 179 1353
Other properties 30212 3478 890 687 738 3719 20699

Year First Mortgage Made or
Assumed

1999 to 2001 (part)
13816 1582 284 191 306 1947 9506
1997 and 1998 8586 932 305 151 167 1107 5925
1995 and 1996 3932 439 109 71 91 515 2707
1990 to 1994 6283 619 233 169 136 518 4607
1985 to 1989 1921 204 30 120 88 187 1292
1980 to 1984 693 90 30 50 27 41 455
1979 or earlier 1179 121 64 33 52 111 798

Traditional First Mortgage Loan

Less than $20,000
1239 113 22 59 52 70 922
$20,000 to $29,999 1785 170 51 65 64 127 1308
$30,000 to $39,999 2274 206 40 92 66 194 1676
$40,000 to $49,999 2508 350 57 92 70 242 1698
$50,000 to $59,999 3030 396 84 74 55 318 2102
$60,000 to $79,999 5696 793 202 89 109 575 3928
$80,000 to $99,999 4698 754 163 82 66 580 3053
$100,000 to $149,999 7972 888 265 119 212 1186 5302
$150,000 to $199,999 3333 240 125 39 80 467 2381
$200,000 to $249,999 1683 14 24 39 20 283 1302
$250,000 to $299,999 649 0 12 19 0 172 445
$300,000 or more 1117 10 5 4 38 186 875
Not reported 427 52 3 12 37 26 297
Median 86214 78480 88378 60947 80104 103980 85647
Mean 106653 84234 101137 81824 106719 124166 108098

Total Mortgage Loan

Less than $20,000
1127 102 14 55 49 64 843
$20,000 to $29,999 1633 151 51 54 61 123 1193
$30,000 to $39,999 2122 205 30 99 61 182 1546
$40,000 to $49,999 2283 332 59 87 58 210 1537
$50,000 to $59,999 2795 353 75 74 64 311 1917
$60,000 to $79,999 5529 767 192 83 108 543 3836
$80,000 to $99,999 4756 773 136 87 57 561 3141
$100,000 to $149,999 8152 889 291 124 224 1201 5423
$150,000 to $199,999 3750 312 135 42 92 529 2641
$200,000 to $249,999 1733 27 38 34 20 292 1322
$250,000 to $299,999 786 7 25 28 0 175 551
$300,000 or more 1326 17 5 7 38 213 1048
Not reported 418 52 3 12 37 22 292
Median 90545 81477 95219 64386 85285 108661 90362
Mean 112359 88285 107988 86402 109583 129282 114246

Traditional First Mortgage Outstanding
Debt

Less than $10,000
1300 93 54 40 47 92 973
$10,000 to $19,999 1750 114 30 106 43 86 1371
$20,000 to $29,999 2232 240 36 42 81 193 1640
$30,000 to $39,999 2662 317 49 122 52 223 1899
$40,000 to $49,999 2818 302 82 68 64 292 2010
$50,000 to $59,999 2761 401 80 37 61 221 1961
$60,000 to $79,999 5382 810 187 87 96 707 3495
$80,000 to $99,999 4507 644 138 91 93 576 2966
$100,000 to $149,999 6918 815 248 94 172 1011 4579
$150,000 to $199,999 2955 187 120 39 74 479 2057
$200,000 to $249,999 1258 0 23 30 14 230 962
$250,000 to $299,999 499 0 4 14 0 144 337
$300,000 or more 949 10 1 4 38 149 747
Not reported 420 52 3 12 37 22 293
Median 76618 72330 80973 52094 74446 93449 75134
Mean 96350 78102 88906 72766 98478 115024 96904

Total Mortgage Outstanding Debt

Less than $10,000
1108 81 43 40 40 79 825
$10,000 to $19,999 1598 98 25 89 43 90 1254
$20,000 to $29,999 2143 248 48 43 73 186 1544
$30,000 to $39,999 2437 281 36 124 44 201 1750
$40,000 to $49,999 2596 294 73 65 72 258 1835
$50,000 to $59,999 2647 387 71 45 58 201 1885
$60,000 to $79,999 5327 772 172 69 94 662 3558
$80,000 to $99,999 4606 665 145 104 93 598 3000
$100,000 to $149,999 7207 838 276 95 191 1020 4786
$150,000 to $199,999 3275 247 112 39 74 556 2247
$200,000 to $249,999 1352 3 40 39 14 243 1012
$250,000 to $299,999 617 11 7 14 0 137 449
$300,000 or more 1101 13 1 7 38 172 870
Not reported 395 46 3 12 37 22 274
Median 80655 75027 87771 55726 78425 97552 79193
Mean 100612 80848 94842 75819 96790 119303 101597

Current Interest Rate on First Mortgage

Less than 6.0 percent
9962 171 22 360 452 1090 7866
6.0 percent 423 28 9 1 7 10 367
6.1 to 6.4 percent 811 84 22 9 4 90 602
6.5 to 6.9 percent 3720 263 123 27 23 495 2787
7.0 percent 3329 364 156 51 62 419 2276
7.1 to 7.4 percent 2817 308 83 21 19 515 1872
7.5 to 7.9 percent 3595 630 153 30 31 539 2213
8.0 percent 1411 389 117 15 12 132 747
8.1 to 8.4 percent 1039 128 9 24 15 244 618
8.5 to 8.9 percent 1335 303 69 39 4 175 745
9.0 percent 453 85 23 32 6 52 256
9.1 to 9.4 percent 353 95 31 4 4 18 201
9.5 to 9.9 percent 701 186 53 34 13 64 351
10.0 percent 217 36 7 11 9 18 135
10.1 to 10.4 percent 204 89 9 0 0 35 71
10.5 to 10.9 percent 365 149 23 19 13 9 152
11.0 percent 416 20 6 8 19 42 321
11.1 to 12.9 percent 598 289 53 11 5 7 234
13.0 percent 95 3 0 4 0 13 75
13.1 percent or more 4566 366 85 87 172 457 3399
Not reported 0 0 0 0 0 0 0
Median 7.1 8.0 7.9 6.9 5.8 7.2 7.0

Type of Interest Rate Buydown

Properties with interest rate
buydown
1114 125 39 4 9 55 882
Constant payment 46 0 0 0 0 11 35
3-2-1 buydown 12 3 0 0 0 5 4
Other 34 21 0 0 0 0 13
Not reported 1022 100 39 4 9 39 830
Properties without interest
rate buydown
16219 1908 526 293 157 2219 11117
Not reported 19077 1953 489 488 702 2153 13291

Term of First Mortgage

Less than 5 years
160 5 0 0 0 4 151
5 years 303 0 0 0 4 9 290
6 to 9 years 192 0 0 0 0 4 188
10 years 669 10 0 4 14 21 620
11 to 14 years 99 0 0 0 3 3 92
15 years 4005 124 44 3 18 248 3566
16 to 19 years 58 0 0 6 0 8 44
20 years 818 30 3 6 14 102 663
21 to 24 years 24 0 0 6 0 4 15
25 years 290 17 4 5 6 20 239
26 to 29 years 96 7 4 0 0 7 78
30 years 14396 3793 1000 54 117 2274 7158
More than 30 years 275 0 0 205 0 8 61
No stated term 15026 0 0 497 692 1713 12124
Median 30 30 30 51 30 30 30

Unexpired Term of First Mortgage

Less than 5 years
1014 67 22 0 7 37 881
5 to 9 years 2148 164 72 18 25 62 1806
10 to 14 years 2912 120 60 27 11 176 2519
15 to 19 years 1597 304 33 43 9 194 1014
20 to 24 years 2711 639 267 95 53 319 1338
25 to 29 years 9007 2200 539 58 54 1574 4582
30 or more years 1996 492 61 48 18 352 1025
No stated term or not computed 15026 0 0 497 692 1713 12124
Median 25 27 26 23 23 27 21

Holder of First Mortgage

Commercial bank or trust company
5472 440 78 104 156 499 4194
Savings and loan association, federal
savings bank
3385 225 45 40 109 355 2610
Mutual savings bank 626 52 7 8 9 61 489
Life insurance company 565 62 21 22 18 52 390
Mortgage banker or mortgage company 3154 496 92 8 15 724 1819
Federally-sponsored secondary market
agency or pool
17242 2244 699 259 363 2147 11530
Conventional mortgage pool 537 44 14 4 5 67 403
Other federal agency 999 75 34 269 7 91 523
Real estate investment trust 49 3 0 4 0 0 42
Pension or retirement fund 48 0 4 0 4 0 39
Credit union 1235 50 16 7 27 110 1026
Finance company 657 16 0 5 18 51 567
State or municipal government or
housing finance agency
1309 206 31 40 85 164 784
Individual or individual's estate 625 30 8 4 34 55 493
Other 507 42 5 12 18 51 380

Servicer of First Mortgage

Commercial bank or trust company
7369 594 122 119 166 699 5669
Savings and loan association, federal
savings bank
3984 339 91 45 115 458 2936
Mutual savings bank 708 35 4 8 9 70 582
Life insurance company 518 53 10 22 18 48 368
Mortgage banker or mortgage company 18501 2598 730 261 404 2658 11850
Federally-sponsored secondary market
agency or pool
69 10 7 0 0 13 38
Conventional mortgage pool 25 0 0 4 0 9 12
Other federal agency 929 54 20 263 7 76 508
Real estate investment trust 3 3 0 0 0 0 0
Pension or retirement fund 20 0 4 0 4 0 12
Credit union 1346 50 32 7 26 118 1113
Finance company 677 16 0 5 18 54 584
State or municipal government or
housing finance agency
1147 161 22 35 55 119 756
Individual or individual's estate 610 30 8 4 34 55 478
Other 505 42 5 12 12 51 383

Holder's Acquisition of First Mortgage

Originated directly from borrower
15811 1323 272 266 440 1740 11770
Purchased from present servicer 10167 1290 374 353 237 1293 6620
Purchased from someone else 10432 1373 408 167 191 1393 6900
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
25950 3283 834 655 636 3444 17099
Less than 40 percent 952 53 4 40 13 86 757
40 to 49 percent 663 42 14 15 14 49 530
50 to 59 percent 945 41 10 27 28 65 774
60 to 69 percent 2787 243 41 69 75 261 2099
70 to 79 percent 2799 159 35 72 40 225 2268
80 to 89 percent 4231 274 81 84 97 487 3208
90 to 94 percent 2378 235 20 29 64 698 1332
95 to 99 percent 3111 816 90 60 58 802 1285
100 percent or more 7658 1380 535 250 226 749 4518
Not reported 426 40 3 8 23 22 328
Median 91 99 22530 93 93 94 86
Other properties 10460 703 221 131 233 983 8191
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
25950 3283 834 655 636 3444 17099
Less than 40 percent 1129 39 4 30 20 95 940
40 to 49 percent 710 29 16 10 14 41 601
50 to 59 percent 1005 33 10 33 20 52 857
60 to 69 percent 5181 696 218 92 120 523 3533
70 to 79 percent 3687 173 34 71 47 280 3082
80 to 89 percent 4034 256 47 100 103 736 2792
90 to 94 percent 2198 245 33 23 51 758 1088
95 to 99 percent 2780 999 80 60 61 535 1044
100 percent or more 4830 771 388 227 178 405 2861
Not reported 394 40 3 8 23 18 301
Median 83 96 98 89 88 90 78
Other properties 10460 703 221 131 233 983 8191
Not available 0 0 0 0 0 0 0

First Mortgage Risk

Subprime loan
1730 152 21 27 58 104 1367
Not subprime loan 34680 3833 1033 758 811 4322 23923
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
25950 3283 834 655 636 3444 17099
Less than 40 percent 844 50 4 30 13 86 661
40 to 49 percent 634 36 10 10 14 46 519
50 to 59 percent 860 41 6 16 24 56 715
60 to 69 percent 2524 205 31 61 70 228 1930
70 to 79 percent 2461 154 42 69 40 201 1955
80 to 89 percent 3770 264 62 83 93 422 2845
90 to 94 percent 2365 223 16 43 61 655 1367
95 to 99 percent 2944 721 87 66 55 715 1301
100 percent or more 9127 1549 571 267 244 1013 5481
Not reported 421 40 3 8 23 22 323
Median 94 100 27401 96 94 95 89
Other properties 10460 703 221 131 233 983 8191
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
25950 3283 834 655 636 3444 17099
Less than 40 percent 3100 199 62 82 78 236 2442
40 to 49 percent 1911 145 30 33 62 166 1475
50 to 59 percent 2718 219 54 69 48 310 2018
60 to 69 percent 4006 421 88 100 72 429 2896
70 to 79 percent 4293 510 83 102 100 582 2917
80 to 89 percent 4062 535 176 92 109 833 2317
90 to 94 percent 1631 344 75 37 58 290 827
95 to 99 percent 1429 395 90 39 40 281 584
100 percent or more 2410 473 172 93 47 298 1327
Not reported 389 40 3 8 23 18 296
Median 72 82 86 74 75 80 69
Other properties 10460 703 221 131 233 983 8191
Not available 0 0 0 0 0 0 0

Total Outstanding Debt as a Percent
of Value

Less than 20 percent
2684 156 62 67 77 167 2156
20 to 29 percent 2170 107 45 76 37 131 1774
30 to 39 percent 2808 194 39 39 63 240 2234
40 to 49 percent 3568 283 46 77 106 309 2746
50 to 59 percent 4916 403 76 107 72 518 3740
60 to 69 percent 5204 512 88 108 140 537 3819
70 to 79 percent 5549 576 206 134 109 817 3707
80 to 89 percent 4023 661 190 60 110 869 2133
90 to 99 percent 3188 779 174 57 83 578 1518
100 percent or more 1764 253 123 40 35 221 1092
Not reported or not computed 537 63 6 20 37 38 372
Median 63 75 78 62 64 74 59

Index Used to Adjust Interest Rate
on ARM

Properties with adjustable
rate first mortgage
4854 402 86 66 161 470 3670
Treasury security 1188 103 7 4 0 109 965
Average cost of funds in bank district 206 3 0 0 0 11 191
National average cost of funds 78 0 0 0 0 9 69
OTS contract mortgage rate 25 0 0 0 0 0 25
Other method 321 0 0 0 23 22 276
No index used 111 6 0 0 0 11 94
Not reported 2927 289 79 63 138 307 2051
Other properties 31556 3584 969 719 707 3957 21620
Not reported 0 0 0 0 0 0 0

Frequency With Which Rate Can Be
Adjusted

Properties with adjustable
rate first mortgage
4854 402 86 66 161 470 3670
Monthly 296 3 0 0 0 17 276
Every 3 months 25 0 0 0 0 3 22
Every 6 months 169 0 0 0 23 4 141
Yearly 1178 107 13 4 0 120 935
Every 3 years 139 0 0 0 0 8 131
Every 5 years 121 0 0 0 0 4 117
Other 62 0 0 0 0 5 57
Not reported 2864 291 73 63 138 309 1990
Other properties 31556 3584 969 719 707 3957 21620
Not reported 0 0 0 0 0 0 0

Caps on Interest Rate Per Adjustment
Period

Properties with adjustable
rate first mortgage
4854 402 86 66 161 470 3670
Less than 1 percent 27 0 0 0 7 0 20
1 percent 3 0 0 0 0 0 3
1.1 to 1.9 percent 99 0 0 0 11 6 82
2 percent 908 0 0 0 0 88 819
2.1 to 2.9 percent 50 16 3 0 0 9 23
3 percent 103 14 0 0 0 16 73
3.1 to 3.9 percent 72 44 0 0 0 0 28
4.0 percent or more 315 33 10 0 5 13 254
No caps 372 4 0 0 0 28 340
Not reported 2905 291 73 66 138 311 2026
Other properties 31556 3584 969 719 707 3957 21620
Not reported 0 0 0 0 0 0 0

Caps on Interest Rate Over Life of ARM

Properties with adjustable
rate first mortgage
4854 402 86 66 161 470 3670
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 53 3 0 0 0 4 45
2.1 to 2.9 percent 4 0 0 0 0 0 4
3 percent 10 0 0 0 0 0 10
3.1 to 3.9 percent 8 0 0 0 0 0 8
4.0 percent or more 1531 103 13 0 23 118 1274
No caps 250 4 0 0 0 25 222
Not reported 2998 291 73 66 138 323 2106
Other properties 31556 3584 969 719 707 3957 21620
Not reported 0 0 0 0 0 0 0

Interest Rate Changed Since
Mortgage Made

Properties with adjustable
rate first mortgage
4854 402 86 66 161 470 3670
Yes, rate has changed 1142 107 13 4 3 77 938
No change since mortgage made 855 3 0 0 20 77 754
Not reported 2858 291 73 63 138 315 1978
Other properties 31556 3584 969 719 707 3957 21620
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
106 4 0 0 0 8 94
Payments can change monthly 37 0 0 0 0 4 34
Payments can change every three months 0 0 0 0 0 0 0
Payments can change every six months 4 0 0 0 0 0 4
Payments can change yearly 50 0 0 0 0 0 50
Payments can change every 3 years 6 0 0 0 0 0 6
Payments can change every 5 years 4 0 0 0 0 4 0
Other 0 0 0 0 0 0 0
Not reported 4 4 0 0 0 0 0
Monthly payments cannot
change
33437 3705 979 723 731 4112 23186
Not reported 2867 276 76 63 138 306 2009

First Mortgage Allows for Negative
Amortization

Monthly payments can change
(other than change in interest
rate)
106 4 0 0 0 8 94
Yes, unrestricted negative amortization 4 0 0 0 0 0 4
Yes, restricted negative amortization 14 0 0 0 0 0 14
No negative amortization allowed 78 0 0 0 0 8 70
Not reported 10 4 0 0 0 0 6
Monthly payments cannot change 33437 3705 979 723 731 4112 23186
Not reported 2867 276 76 63 138 306 2009

MORTGAGE PAYMENTS AND OTHER EXPENSES


Method of Payment of First Mortgage

Regular payments of interest
and/or principal
35335 3870 1043 765 818 4331 24506
Interest and principal 35280 3870 1043 765 818 4328 24456
Fully amortized 32154 3489 973 518 723 3979 22471
Not fully amortized 3127 381 70 246 96 349 1984
Interest only 54 0 0 0 0 3 51
No regular payments required 100 15 0 0 0 9 76
Not reported 976 100 11 21 50 86 707

Items Included in First Mortgage
Payment@1

Regular monthly payments of
both interest and principal
35280 3870 1043 765 818 4328 24456
Real estate taxes 13252 2258 694 103 123 2357 7718
Property insurance 11849 2242 676 93 106 2166 6566
Mortgage insurance 3892 1572 42 8 42 1757 472
Other 4708 967 409 22 56 805 2449
No items included or not reported 21524 1549 325 656 687 1884 16423
No regular payments of interest
and principal
1130 115 11 21 50 98 834

Monthly Interest and Principal Payments
on First Mortgage

Monthly payments of interest
and/or principal
35335 3870 1043 765 818 4331 24506
Less than $100 179 15 11 24 7 15 107
$100 to $199 807 108 34 46 40 58 521
$200 to $299 2047 227 37 79 63 157 1485
$300 to $399 3131 417 81 127 88 288 2130
$400 to $499 3473 485 98 78 70 399 2343
$500 to $599 3907 652 174 64 72 455 2489
$600 to $699 3589 491 112 50 55 435 2446
$700 to $799 3105 312 95 69 76 406 2147
$800 to $899 2656 358 69 33 47 345 1804
$900 to $999 2257 200 72 19 41 310 1615
$1,000 to $1,249 4015 331 154 39 100 552 2838
$1,250 to $1,499 2137 142 74 55 76 279 1511
$1,500 or more 4030 132 31 81 84 632 3071
Median 717 606 677 545 720 788 734
Mean 892 726 751 720 954 973 913
No regular payments required 100 15 0 0 0 9 76
Not reported 976 100 11 21 50 86 707

Current First Mortgage Payment Status

Regular monthly payments of
principal and/or interest
36310 3971 1055 786 869 4417 25213
Up-to-date, ahead of schedule, or
less than 90 days past due
18583 2211 707 262 163 2573 12668
Delinquent by 90 days or more 407 94 13 31 11 45 213
Legal proceedings have begun 149 21 0 15 9 18 86
Legal proceedings have not begun 189 73 13 16 3 15 70
Not reported 69 0 0 0 0 12 57
Not reported 17320 1666 335 493 695 1799 12333
Other properties 100 15 0 0 0 9 76

Monthly Interest and Principal Payments
on Total Mortgages

Regular monthly payments of
interest and/or principal
35438 3878 1043 765 818 4344 24589
Less than $100 184 19 11 24 7 19 104
$100 to $199 738 98 25 46 37 58 473
$200 to $299 1906 221 38 67 54 157 1369
$300 to $399 2838 366 64 107 81 242 1978
$400 to $499 3179 453 77 65 59 365 2160
$500 to $599 3616 592 156 83 79 415 2291
$600 to $699 3501 492 97 65 57 423 2366
$700 to $799 3046 328 104 65 70 402 2076
$800 to $899 2699 372 74 41 59 356 1797
$900 to $999 2389 236 92 17 42 309 1694
$1,000 to $1,249 4324 362 163 42 98 565 3093
$1,250 to $1,499 2383 172 83 56 76 307 1688
$1,500 or more 4638 168 59 86 98 726 3501
Median 758 639 751 588 748 826 775
Mean 955 761 1017 749 985 1014 978
No regular monthly payments
required
972 107 11 21 50 82 700

Interest and Principal Payments on
Traditional First Mortgages as Percent
of Income

Monthly payments of interest
and/or principal
35335 3870 1043 765 818 4331 24506
Less than 5 percent 1357 109 48 50 19 134 997
5 to 9 percent 6372 640 150 108 142 679 4654
10 to 14 percent 9058 1006 321 183 153 1202 6193
15 to 19 percent 6584 776 245 129 189 897 4348
20 to 24 percent 3776 414 81 78 105 473 2625
25 to 29 percent 1918 227 57 46 67 224 1296
30 to 34 percent 1169 132 23 17 36 161 800
35 to 39 percent 652 80 14 32 17 65 445
40 to 49 percent 742 99 23 21 14 61 525
50 percent or more 1173 126 33 38 11 150 815
Not reported or not computed 2534 263 51 63 64 285 1809
Median 15 15 15 15 17 15 15
No regular payments required 1076 115 11 21 50 95 783

Real Estate Tax

Acquired before 2000
31331 3215 967 705 750 3534 22161
Less than $100 5558 722 225 162 123 630 3696
$100 to $199 329 65 0 26 15 30 193
$200 to $299 455 57 24 40 17 35 282
$300 to $399 786 112 9 36 12 65 551
$400 to $499 793 83 34 34 8 70 565
$500 to $599 826 105 19 35 12 84 572
$600 to $699 995 97 53 14 16 134 681
$700 to $799 1008 113 31 30 14 119 701
$800 to $899 998 164 28 9 35 92 669
$900 to $999 949 122 37 34 19 142 594
$1,000 to $1,249 2862 344 78 74 99 323 1945
$1,250 to $1,499 1701 217 78 22 40 202 1142
$1,500 to $1,999 3423 342 116 36 43 428 2458
$2,000 to $2,499 2775 218 91 26 69 373 1998
$2,500 or more 7634 425 144 123 199 794 5949
Not reported 239 28 0 6 27 13 164
Median 1249 962 1075 714 1224 1295 1370
Mean 1817 1255 1314 1199 1813 1757 1950
Acquired 2000 and 2001 (part) 5079 771 88 80 119 893 3128

Real Estate Tax as Percent of Income

Acquired before 2000
31331 3215 967 705 750 3534 22161
Less than 1.0 percent 7411 892 260 232 181 962 4885
1.0 to 1.9 percent 5966 586 214 138 88 650 4290
2.0 to 2.9 percent 5511 567 176 99 153 637 3879
3.0 to 3.9 percent 3524 312 124 49 119 397 2522
4.0 to 4.9 percent 2164 235 46 29 43 239 1572
5.0 to 7.4 percent 2428 219 53 49 46 240 1822
7.5 to 9.9 percent 774 53 23 28 9 77 583
10.0 percent or more 1021 96 20 32 28 90 756
Not reported or computed 2533 255 51 51 83 240 1854
Median 2.2 2.0 1.9 1.7 2.4 2.1 2.3
Other properties 5079 771 88 80 119 893 3128

Real Estate Tax Per $1,000 Value

Acquired before 2000
31331 3215 967 705 750 3534 22161
Less than $5 7627 906 267 233 165 847 5209
$5 to $9 8326 805 247 190 208 959 5918
$10 to $14 6816 631 215 157 134 811 4868
$15 to $19 3618 345 96 52 85 388 2653
$20 to $24 2098 230 76 16 56 202 1517
$25 to $29 990 72 22 19 45 133 699
$30 to $39 1605 197 43 33 30 181 1120
$40 to $49 7 0 0 0 0 0 7
$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 243 28 0 6 27 13 168
Median 10 9 9 8 10 10 10
Acquired 2000 and 2001 (part) 5079 771 88 80 119 893 3128

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