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Residential Finance Survey: 2001 - Northeast
Table 2-3b. 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
6370 632 141 125 171 796 4505

PROPERTY CHARACTERISTICS


Property Location by Geographic Area

Inside MAs
5708 582 126 112 142 730 4016
In central cities 885 112 8 13 10 169 571
Not in central cities 4824 470 118 98 132 561 3445
Outside MAs 662 50 16 13 29 65 489

Manner of Acquisition

By purchase
6173 614 137 125 162 771 4365
Placed one new mortgage 5868 602 129 119 157 740 4121
Placed two or more new mortgages 118 0 4 5 0 16 92
Assumed mortgage(s) already on property 82 5 3 0 0 11 63
Assumed mortgage(s) already on property
and placed new mortgage
14 0 0 0 0 0 14
Borrowed using assets other than this
property as collateral
21 0 0 0 5 0 16
Paid all cash-no borrowing 59 8 0 0 0 0 52
Other manner 12 0 0 0 0 3 8
By inheritance or gift 124 10 0 0 10 17 87
By divorce 8 0 0 0 0 0 8
By some other manner 18 4 0 0 0 0 14
Not reported 48 4 5 0 0 8 31

Source of Downpayment@1

Properties purchased
1995 to 2001 (part)
2875 336 74 42 61 476 1886
Sale of previous home 799 38 16 3 23 132 588
Sale of other real property or other
investments
119 5 2 5 0 14 93
Savings 1735 221 36 18 14 296 1149
Borrowing from a retirement plan 136 30 10 0 0 18 78
Borrowing using assets other than this
property as collateral
53 0 0 3 4 9 36
Proceeds from an insurance policy 13 0 0 0 0 5 8
Payments in a lease-purchase agreement 19 0 0 4 0 0 15
From a state or local government source 54 17 11 0 0 9 18
From a non-profit organization 3 0 0 0 0 0 3
From parents or relatives 359 64 11 4 9 64 207
Other 4 0 0 0 0 4 0
No downpayment required 160 28 6 16 9 26 77
Not reported 41 0 3 0 4 0 33
Other properties 3483 292 67 82 111 320 2611
Not reported 12 4 0 0 0 0 8

Year Property Acquired

1999 to 2001 (part)
1362 176 30 18 32 227 877
1997 and 1998 958 118 19 17 7 153 643
1995 and 1996 623 56 25 7 21 108 407
1990 to 1994 1333 97 53 39 29 141 974
1985 to 1989 900 81 7 31 39 76 665
1980 to 1984 473 38 0 5 13 37 382
1975 to 1979 424 40 0 7 29 26 321
1970 to 1974 182 18 7 0 0 15 142
1969 or earlier 115 8 0 0 0 13 94

Building and Land Acquisition

Acquired at same time
5817 592 138 115 147 746 4080
Not acquired at same time 436 12 3 3 25 23 369
Land not owned by building owner 63 24 0 0 0 15 24
Not reported 54 4 0 6 0 11 33

Property New or Previously Occupied When
Acquired

Acquired by purchase
6173 614 137 125 162 771 4365
New 1243 88 25 23 30 99 979
Previously occupied by someone else 4889 523 111 102 125 672 3357
Converted from non-residential use 4 0 0 0 4 0 0
Other 4 0 0 0 0 0 4
Not reported 33 3 0 0 3 0 26
Other properties 149 14 0 0 10 17 109
Not reported 48 4 5 0 0 8 31

Year Structure Built

1999 to March 2000
215 28 4 0 4 41 138
1997 and 1998 263 28 5 0 4 42 185
1995 and 1996 142 13 7 7 2 13 100
1990 to 1994 503 28 11 31 5 43 386
1980 to 1989 848 83 17 7 15 102 624
1970 to 1979 859 64 23 31 47 110 585
1960 to 1969 663 51 10 17 0 54 532
1950 to 1959 1008 124 38 10 34 130 673
1940 to 1949 439 74 4 4 7 52 299
1939 or earlier 1430 139 24 19 54 210 983

Purchase Price

Properties acquired by
purchase 1997 to 2001 (part)
2267 280 49 35 40 368 1494
Less than $20,000 56 0 0 3 0 4 49
$20,000 to $39,999 124 31 0 0 4 14 76
$40,000 to $59,999 184 30 0 0 10 24 119
$60,000 to $79,999 195 45 5 0 0 37 107
$80,000 to $99,999 235 37 7 10 0 59 121
$100,000 to $124,999 267 38 13 13 4 36 164
$125,000 to $149,999 276 45 8 5 4 36 178
$150,000 to $174,999 196 21 7 5 5 37 121
$175,000 to $199,999 166 14 0 0 0 34 118
$200,000 to $249,999 203 4 0 0 8 24 167
$250,000 to $299,999 123 0 5 0 0 21 97
$300,000 to $499,999 181 11 4 0 0 38 128
$500,000 or more 61 5 0 0 4 4 49
Median 131566 98361 123557 108064 135010 132263 140510
Mean 169428 140149 148876 102854 200737 158333 179064
Other properties 4104 352 93 89 132 428 3011

Value

Less than $20,000
36 3 0 3 0 3 26
$20,000 to $39,999 210 44 3 4 7 17 136
$40,000 to $59,999 328 25 3 14 23 64 200
$60,000 to $79,999 564 105 8 4 15 75 358
$80,000 to $99,999 572 105 21 21 0 53 371
$100,000 to $124,999 600 59 16 22 21 99 383
$125,000 to $149,999 668 45 14 10 20 107 472
$150,000 to $174,999 618 56 9 11 7 82 452
$175,000 to $199,999 482 70 27 4 16 52 313
$200,000 to $249,999 634 37 20 13 14 67 482
$250,000 to $299,999 499 26 9 0 0 33 432
$300,000 to $499,999 823 46 11 12 35 110 609
$500,000 or more 336 13 0 7 13 34 269
Median 158353 114692 164411 118893 149866 145372 166881
Mean 205750 152348 165060 160999 222740 192426 217467

Purchase Price as Percent of Value@8

Acquired by purchase
6173 614 137 125 162 771 4365
Purchased 1997 to 2001 (part) 2267 280 49 35 40 368 1494
Less than 60 percent 242 10 0 0 5 22 205
60 to 69 percent 185 21 0 5 5 37 117
70 to 79 percent 287 31 12 1 7 33 202
80 to 99 percent 1046 137 21 23 18 172 676
100 percent or more 495 81 15 7 4 105 283
Median 88 91 91 90 83 91 86
Purchased 1990 to 1996 (part) 1894 153 74 46 44 249 1329
Less than 40 percent 150 0 4 7 3 8 127
40 to 59 percent 235 12 4 7 17 22 173
60 to 79 percent 605 61 21 4 3 78 437
80 to 99 percent 648 50 42 25 21 106 406
100 percent or more 256 29 3 3 0 35 185
Median 79 81 84 84 70 83 77
Purchased 1989 or earlier 2012 181 14 43 78 154 1542
Less than 20 percent 310 17 3 0 7 25 258
20 to 39 percent 504 31 0 4 14 38 417
40 to 59 percent 427 32 0 0 16 29 350
60 to 79 percent 314 32 3 11 12 24 232
80 to 99 percent 243 35 0 13 8 17 170
100 percent or more 201 34 8 16 11 21 112
Median 49 66 505 91 56 50 45
Not acquired by purchase 197 18 5 0 10 25 140

Value-Income Ratio

Less than 1.0
418 63 6 15 17 47 270
1.0 to 1.4 932 70 16 18 17 116 696
1.5 to 1.9 1067 124 43 9 26 124 741
2.0 to 2.4 985 75 19 19 20 129 722
2.5 to 2.9 735 100 5 13 24 99 494
3.0 to 3.4 444 25 11 19 14 66 309
3.5 to 3.9 293 20 12 0 3 52 206
4.0 or more 1039 107 21 28 41 92 750
Not reported or not computed 457 49 9 4 9 69 317
Median 2.3 2.2 2.0 2.5 2.5 2.3 2.3

Value of Capital Improvements

Properties with capital
improvements between 1998
and 2000
3758 320 80 68 88 459 2744
Less than $500 33 0 0 0 2 4 27
$500 to $999 97 12 4 0 5 7 69
$1,000 to $2,499 473 53 3 3 8 65 341
$2,500 to $4,999 478 54 13 20 6 51 334
$5,000 to $7,499 702 48 29 9 9 85 522
$7,500 to $9,999 204 20 4 0 9 25 146
$10,000 to $14,999 568 47 8 9 27 100 376
$15,000 to $19,999 288 17 6 5 7 26 227
$20,000 to $29,999 380 29 4 15 8 46 278
$30,000 or more 535 39 10 7 7 50 422
Median 8683 7137 6752 11096 10951 9301 8835
Mean 17855 13541 15163 13858 27836 13063 19016
Properties with no capital
improvements between 1998 and 2000
2040 236 48 38 64 241 1412
Capital improvements not
reported
572 77 13 18 19 96 349

Age Restrictions

Property located in subdivision
restricted to people age 55 or older
100 17 0 0 4 9 69
Property located in subdivision not
restricted to people age 55 or older
5934 584 138 121 151 734 4206
Not reported 337 31 3 3 17 53 230

Neighborhood Composition

Property located in subdivision or
neighborhood occupied predominantly by
people age 55 or older
393 61 3 7 11 30 280
Property located in subdivision or
neighborhood not occupied predominantly
by people age 55 or older
4496 410 113 99 113 586 3175
Don't know or not reported 1482 161 26 19 48 179 1050

Type of Property Benefits@1

Government-sponsored below-market
interest rate mortgage loan
102 18 3 13 0 28 40
Other government grant or subsidy 37 13 0 4 0 5 14
Property tax relief 371 38 8 0 14 14 297
Subsidy from a non-profit corporation 5 0 0 0 0 0 5
None of the above benefits 4767 430 98 73 119 614 3433
Not reported 1096 133 32 39 39 134 719

Source of Property Benefits@1

With property benefits
508 69 11 13 14 47 354
Federal government 89 26 3 13 4 5 39
State government 305 39 8 0 7 26 225
Local government 122 16 3 0 6 13 83
Non-profit corporation 5 0 0 0 0 0 5
Not reported 23 0 0 0 0 3 20
With no property benefits 4767 430 98 73 119 614 3433
Not reported 1096 133 32 39 39 134 719

Reason for Benefits@1

With property benefits
508 69 11 13 14 47 354
Occupied by low- or moderate-income
individuals
100 22 0 13 3 15 47
Occupied by elderly or disabled
individuals
55 7 3 0 7 0 38
A historic structure 0 0 0 0 0 0 0
Located in a community development or
economic development area
36 5 0 0 3 5 23
Covered by a Homestead Exemption 42 4 0 0 0 0 39
Covered by a Community Land Trust 0 0 0 0 0 0 0
Covered by disaster relief 0 0 0 0 0 0 0
Other reason 266 39 3 0 4 22 198
Not reported 44 0 4 0 0 8 32
With no property benefits 4767 430 98 73 119 614 3433
Not reported 1096 133 32 39 39 134 719

OWNER CHARACTERISTICS


Owner Status

1 owner
1952 214 32 48 53 279 1325
2 owners 4352 413 109 77 118 508 3127
3 or more owners 67 5 0 0 0 8 53

Age of Owner

Under 25
47 13 0 0 4 11 20
25 to 34 836 130 17 18 14 147 509
35 to 44 1947 199 53 57 55 275 1308
45 to 54 1882 134 37 29 52 196 1435
55 to 64 1015 87 20 11 14 118 765
65 to 74 340 23 11 7 14 17 268
75 and over 62 9 0 0 9 4 41
Not reported 240 38 3 3 10 27 159
Median 46 43 45 43 47 43 47

Race of Owner

White alone
5731 550 137 98 159 718 4070
Black or African American alone 335 53 4 20 9 35 214
American Indian or Alaska Native alone 16 0 0 0 0 0 16
Asian alone 258 26 0 7 3 30 192
Native Hawaiian or Other Pacific
Islander alone
0 0 0 0 0 0 0
Two or more races 30 4 0 0 0 13 13

Sex of Owner

Male/Male and female co-owners
5324 494 126 109 141 652 3802
Female 1046 138 15 16 30 144 703

Hispanic/Latino Origin

Hispanic/Latino owner(s) only
271 37 4 5 13 40 171
No Hispanic/Latino owner(s) 6100 596 137 119 158 756 4334

Veteran Status@1

Veteran
1110 95 76 7 7 126 799
Active member of Reserves or National
Guard for at least 6 years
227 25 14 0 3 20 164
Persian Gulf War or after
(August 1990 to present)
68 4 10 0 0 16 38
Vietnam or after
(August 1964 to July 1990)
680 61 57 0 4 84 475
Korean conflict or after
(July 1950 to July 1964)
204 8 11 4 0 10 171
World War II or after
(September 1940 to June 1950)
53 4 0 3 0 4 41
Nonveteran 4908 502 54 110 146 621 3475
Not reported 353 35 11 7 18 49 231

Income

Less than $5,000
500 54 12 4 9 69 352
$5,000 to $9,999 39 19 0 0 0 0 20
$10,000 to $14,999 78 10 0 7 7 5 49
$15,000 to $19,999 132 12 0 6 12 17 87
$20,000 to $24,999 192 40 3 0 10 19 120
$25,000 to $29,999 213 23 0 9 10 35 137
$30,000 to $34,999 238 50 3 8 7 35 135
$35,000 to $39,999 313 23 0 10 8 62 210
$40,000 to $49,999 582 49 24 9 9 97 393
$50,000 to $59,999 546 68 20 13 16 59 370
$60,000 to $79,999 1143 139 40 27 28 112 798
$80,000 to $99,999 707 71 8 3 6 85 533
$100,000 to $119,999 555 48 10 11 21 58 408
$120,000 or more 1132 28 21 18 29 142 894
Median 66159 55539 63907 57763 58906 59894 69524
Mean 85417 58230 69895 74782 118283 86505 88572

Owned Home Previously

Previously owned home
2993 220 79 44 92 337 2220
Never owned home before 3170 391 59 77 69 422 2151
Not reported 208 21 3 3 10 36 133

MORTGAGE CHARACTERISTICS


Number of Mortgages

1 mortgage
4579 516 102 85 121 589 3166
2 mortgages 1541 85 31 36 41 191 1158
3 or more mortgages 250 31 8 4 10 16 182

Form of Debt of First Mortgage

Mortgage or deed of trust
6370 632 141 125 171 796 4505
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
52 0 0 0 0 16 35
By telephone or FAX 761 87 10 7 11 85 562
By regular mail 228 13 9 0 5 26 174
By personal visit 3722 324 74 75 115 475 2659
Through third party (such as real
estate agent or builder)
1057 159 49 39 35 135 641
Some other way 25 0 0 0 0 5 20
Not reported 499 49 0 5 5 42 398
Not available 27 0 0 0 0 11 16

Origin of First Mortgage

Mortgage made at time property acquired
4643 529 128 109 131 629 3116
Mortgage assumed at the time property
acquired
58 5 0 0 0 11 43
Mortgage placed later than acquisition of
property
1670 99 13 16 40 156 1346
Refinanced mortgage 1497 81 13 16 35 140 1212
Same lender 432 25 2 3 6 36 360
Different lender 1065 56 11 13 28 105 853
Mortgage placed on property
owned free and clear of debt
173 18 0 0 5 16 134
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
1670 99 13 16 40 156 1346
Obtain lower interest rate 1078 75 13 12 18 110 851
Increase payment period for mortgage 21 0 0 0 0 0 21
Reduce payment period for mortgage 32 0 0 0 0 3 28
Renew or extend loan that had fallen
due, without increasing outstanding
balance
24 0 0 0 0 5 19
Receive cash or increase outstanding
balance of loan
420 19 0 4 14 35 348
Other reason 61 5 0 0 0 0 56
Not reported 35 0 0 0 9 3 24
Other properties 4701 534 128 109 131 639 3159
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
769 41 7 7 6 62 645
Less than $20,000 240 12 7 4 0 28 189
$20,000 to $39,999 234 0 0 4 3 13 214
$40,000 to $59,999 101 15 0 0 0 0 87
$60,000 to $79,999 63 0 0 0 0 5 58
$80,000 to $99,999 40 10 0 0 0 0 31
$100,000 to $124,999 48 0 0 0 0 0 48
$125,000 to $149,999 8 5 0 0 0 0 4
$150,000 to $174,999 23 0 0 0 0 10 13
$175,000 to $199,999 3 0 0 0 0 3 0
$200,000 to $249,999 3 0 0 0 3 0 0
$250,000 to $299,999 0 0 0 0 0 0 0
$300,000 or more 5 0 0 0 0 3 2
Median 32356 51361 10000 20497 39862 24781 32492
Mean 46147 55306 1061 22691 109375 99082 40686
Properties that refinanced
and did not receive cash back
746 45 6 8 25 82 581
Properties that refinanced
and did not report if received
cash back
155 13 0 0 9 13 120
Properties that did not
refinance
4701 534 128 109 131 639 3159
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
769 41 7 7 6 62 645
For additions, improvements or repairs
to this property
356 24 0 4 3 15 311
To consolidate debts 342 19 7 4 3 28 280
For investment in other real estate 50 5 0 0 0 8 38
For other types of investments 45 0 0 0 0 10 35
For educational or medical expenses 56 0 0 0 0 13 43
To start a business 0 0 0 0 0 0 0
To settle a divorce 19 0 0 0 0 0 19
To pay taxes 29 3 0 0 0 3 23
To purchase an automobile, truck, or
other vehicle
51 0 0 0 0 5 46
To purchase consumer product other than
automobile, truck, or other vehicle
20 5 0 4 0 0 11
Other 29 0 0 0 0 0 29
Not reported 15 0 0 0 0 0 15
Properties that refinanced
and did not receive cash back
746 45 6 8 25 82 581
Properties that refinanced
and did not report if received
cash back
155 13 0 0 9 13 120
Properties that did not
refinance
4701 534 128 109 131 639 3159
Not available 0 0 0 0 0 0 0

Purpose of Second Mortgage

Properties with second
mortgage
683 54 20 17 28 76 488
Provide funds for the purchase of this
property
51 0 0 5 0 14 31
Provide funds for additions,
improvements or repairs to this
property
133 9 3 8 11 24 78
Provide funds for consolidation of debts 162 17 4 0 14 24 103
Provide funds for investment in other
real estate
21 0 0 0 0 0 21
Provide funds for other types of
investments
0 0 0 0 0 0 0
Provide funds for educational or
medical expenses
0 0 0 0 0 0 0
Provide funds for starting a business 17 5 4 0 0 0 8
Provide funds to settle a divorce 4 0 0 0 0 0 4
Provide funds to pay taxes 8 0 0 0 0 3 5
Provide funds to purchase automobile,
truck, or vehicle
12 0 0 0 0 0 12
Provide funds to purchase another type
of consumer product
0 0 0 0 0 0 0
Other reasons 3 0 0 0 0 0 3
Not reported 273 24 8 4 3 11 224
Other properties 5687 578 122 108 143 720 4017

Purpose of Home Equity Line of Credit

Properties with home equity
line of credit
1348 93 27 27 30 146 1025
Provide funds for additions,
improvements or repairs to this
property
414 23 7 13 3 38 329
Provide funds for consolidation of debts 195 17 8 0 10 46 115
Provide funds for investment in other
real estate
30 0 0 0 0 8 22
Provide funds for other types of
investments
30 0 0 0 0 4 26
Provide funds for educational or
medical expenses
62 7 0 4 0 0 51
Provide funds for starting a business 19 3 0 0 4 0 12
Provide funds to settle a divorce 0 0 0 0 0 0 0
Provide funds to pay taxes 12 0 0 0 0 9 3
Provide funds to purchase automobile,
truck, or vehicle
61 5 0 7 0 4 45
Provide funds to purchase another type
of consumer product
5 0 0 0 0 0 5
Other reasons 43 0 0 0 5 4 34
Not reported 478 38 13 3 7 34 383
Other properties 5022 539 114 98 142 649 3480

Year First Mortgage Made or
Assumed

1999 to 2001 (part)
2119 214 41 21 41 324 1477
1997 and 1998 1379 141 30 26 14 187 981
1995 and 1996 714 72 18 11 26 102 485
1990 to 1994 1291 81 45 31 24 115 995
1985 to 1989 422 62 4 26 37 28 264
1980 to 1984 142 36 0 5 9 10 82
1979 or earlier 304 26 3 4 20 29 221

Traditional First Mortgage Loan

Less than $20,000
160 7 0 3 12 13 123
$20,000 to $29,999 345 49 3 16 19 25 233
$30,000 to $39,999 422 25 0 0 13 31 352
$40,000 to $49,999 374 45 3 10 7 44 266
$50,000 to $59,999 520 64 3 11 12 66 363
$60,000 to $79,999 876 117 24 6 19 94 618
$80,000 to $99,999 794 96 27 34 10 99 528
$100,000 to $149,999 1523 168 46 34 37 206 1033
$150,000 to $199,999 659 37 22 4 19 116 460
$200,000 to $249,999 282 0 9 7 3 40 223
$250,000 to $299,999 119 0 4 0 0 24 91
$300,000 or more 208 5 0 0 7 33 164
Not reported 88 20 0 0 14 5 49
Median 91184 79877 110442 89283 76978 105740 90325
Mean 110472 93576 118051 89702 117379 125587 110208

Total Mortgage Loan

Less than $20,000
149 3 0 3 12 13 116
$20,000 to $29,999 310 41 3 7 16 25 217
$30,000 to $39,999 379 28 0 4 8 28 311
$40,000 to $49,999 356 50 3 10 3 44 246
$50,000 to $59,999 458 49 3 7 16 66 316
$60,000 to $79,999 885 114 16 10 19 90 635
$80,000 to $99,999 764 99 27 35 6 80 517
$100,000 to $149,999 1554 166 46 38 42 210 1053
$150,000 to $199,999 733 57 25 4 24 133 490
$200,000 to $249,999 294 0 9 3 3 45 234
$250,000 to $299,999 145 0 8 0 0 15 122
$300,000 or more 255 5 0 4 7 42 198
Not reported 88 20 0 0 14 5 49
Median 95802 84082 118643 91903 90844 111766 94924
Mean 117386 97358 125935 100702 122554 133307 117326

Traditional First Mortgage Outstanding
Debt

Less than $10,000
289 8 3 0 17 25 236
$10,000 to $19,999 310 28 0 20 15 26 221
$20,000 to $29,999 407 32 0 7 11 29 328
$30,000 to $39,999 439 49 0 5 8 28 349
$40,000 to $49,999 527 67 7 9 9 50 385
$50,000 to $59,999 442 52 14 6 15 38 317
$60,000 to $79,999 803 116 21 13 9 127 519
$80,000 to $99,999 767 86 20 25 14 123 498
$100,000 to $149,999 1270 148 47 30 32 156 856
$150,000 to $199,999 557 22 16 7 19 112 379
$200,000 to $249,999 213 0 12 3 0 28 170
$250,000 to $299,999 80 0 0 0 0 21 60
$300,000 or more 178 5 0 0 7 28 138
Not reported 88 20 0 0 14 5 49
Median 78097 72119 105874 82167 66240 91859 75132
Mean 97501 85420 108540 79991 107231 115110 95831

Total Mortgage Outstanding Debt

Less than $10,000
258 8 3 0 14 22 211
$10,000 to $19,999 267 15 0 7 15 26 204
$20,000 to $29,999 391 38 0 11 7 29 306
$30,000 to $39,999 409 51 0 8 4 28 317
$40,000 to $49,999 490 62 7 9 17 54 341
$50,000 to $59,999 422 42 7 6 13 34 321
$60,000 to $79,999 803 113 21 9 9 113 538
$80,000 to $99,999 756 86 23 30 14 110 492
$100,000 to $149,999 1345 163 52 34 38 167 891
$150,000 to $199,999 585 30 12 4 19 127 394
$200,000 to $249,999 245 0 17 3 0 32 192
$250,000 to $299,999 102 0 0 0 0 15 86
$300,000 or more 217 5 0 4 7 34 169
Not reported 81 20 0 0 14 5 43
Median 82779 75870 109515 87843 80484 96341 79742
Mean 102759 86114 115804 90271 102911 121488 101718

Current Interest Rate on First Mortgage

Less than 6.0 percent
1743 50 3 58 100 215 1315
6.0 percent 55 5 0 0 0 0 49
6.1 to 6.4 percent 148 25 0 6 0 12 105
6.5 to 6.9 percent 628 37 13 4 9 86 480
7.0 percent 492 12 23 5 7 68 377
7.1 to 7.4 percent 525 22 7 5 5 76 410
7.5 to 7.9 percent 662 53 21 0 0 107 482
8.0 percent 263 67 8 0 4 8 176
8.1 to 8.4 percent 236 33 0 4 3 60 138
8.5 to 8.9 percent 321 48 7 11 0 43 213
9.0 percent 85 25 11 6 0 0 42
9.1 to 9.4 percent 53 10 5 0 0 0 38
9.5 to 9.9 percent 119 45 0 9 0 5 60
10.0 percent 35 7 0 0 3 0 25
10.1 to 10.4 percent 20 5 0 0 0 4 11
10.5 to 10.9 percent 63 22 5 0 0 4 32
11.0 percent 66 0 0 0 6 3 57
11.1 to 12.9 percent 120 66 9 0 0 7 37
13.0 percent 14 3 0 0 0 8 3
13.1 percent or more 723 99 27 17 34 90 455
Not reported 0 0 0 0 0 0 0
Median 7.2 8.6 8.0 6.4 5.1 7.2 7.1

Type of Interest Rate Buydown

Properties with interest rate
buydown
115 3 3 0 0 9 99
Constant payment 14 0 0 0 0 4 10
3-2-1 buydown 0 0 0 0 0 0 0
Other 0 0 0 0 0 0 0
Not reported 101 3 3 0 0 5 89
Properties without interest
rate buydown
3009 261 37 47 21 393 2249
Not reported 3247 368 101 78 150 394 2156

Term of First Mortgage

Less than 5 years
12 0 0 0 0 4 9
5 years 66 0 0 0 0 0 66
6 to 9 years 18 0 0 0 0 0 18
10 years 158 0 0 0 0 0 158
11 to 14 years 18 0 0 0 0 3 15
15 years 876 20 0 3 4 70 780
16 to 19 years 8 0 0 0 0 4 4
20 years 133 3 3 0 0 12 116
21 to 24 years 15 0 0 0 0 0 15
25 years 111 8 0 0 6 3 94
26 to 29 years 23 3 0 0 0 4 16
30 years 2444 599 138 4 14 390 1299
More than 30 years 40 0 0 31 0 0 8
No stated term 2449 0 0 86 148 308 1907
Median 30 30 30 58 30 30 30

Unexpired Term of First Mortgage

Less than 5 years
213 11 3 0 3 7 188
5 to 9 years 531 28 0 0 4 16 484
10 to 14 years 585 45 0 0 0 40 500
15 to 19 years 347 66 11 12 0 40 218
20 to 24 years 551 91 48 17 17 66 313
25 to 29 years 1449 349 68 4 0 288 740
30 or more years 244 42 12 6 0 30 154
No stated term or not computed 2449 0 0 86 148 308 1907
Median 23 26 26 22 21 26 18

Holder of First Mortgage

Commercial bank or trust company
885 89 10 13 35 87 650
Savings and loan association, federal
savings bank
611 41 15 11 12 57 475
Mutual savings bank 292 7 0 0 0 25 260
Life insurance company 107 11 0 0 3 13 79
Mortgage banker or mortgage company 501 73 11 0 3 109 306
Federally-sponsored secondary market
agency or pool
2845 311 86 40 78 374 1956
Conventional mortgage pool 96 5 0 4 0 6 81
Other federal agency 188 17 7 45 0 25 94
Real estate investment trust 19 0 0 0 0 0 19
Pension or retirement fund 15 0 0 0 4 0 11
Credit union 249 19 0 0 5 20 205
Finance company 102 0 0 0 5 7 90
State or municipal government or
housing finance agency
281 48 7 4 14 60 147
Individual or individual's estate 97 0 0 0 4 3 90
Other 82 11 5 8 7 8 43

Servicer of First Mortgage

Commercial bank or trust company
1205 104 11 17 35 114 923
Savings and loan association, federal
savings bank
722 67 15 11 12 69 548
Mutual savings bank 388 7 0 0 0 34 346
Life insurance company 100 11 0 0 3 13 73
Mortgage banker or mortgage company 2986 366 100 36 87 473 1925
Federally-sponsored secondary market
agency or pool
12 0 0 0 0 0 12
Conventional mortgage pool 10 0 0 4 0 0 7
Other federal agency 176 17 4 45 0 20 90
Real estate investment trust 0 0 0 0 0 0 0
Pension or retirement fund 8 0 0 0 4 0 3
Credit union 269 19 0 0 5 21 223
Finance company 109 0 0 0 5 7 96
State or municipal government or
housing finance agency
208 31 7 4 8 31 126
Individual or individual's estate 96 0 0 0 4 3 89
Other 82 11 5 8 7 8 43

Holder's Acquisition of First Mortgage

Originated directly from borrower
2982 243 49 26 85 362 2216
Purchased from present servicer 1747 199 46 73 37 216 1175
Purchased from someone else 1642 190 47 25 49 217 1114
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
4565 515 123 109 122 619 3076
Less than 40 percent 212 17 0 9 4 16 166
40 to 49 percent 165 24 0 0 0 0 142
50 to 59 percent 261 23 0 7 7 18 205
60 to 69 percent 576 58 14 12 17 71 402
70 to 79 percent 544 30 10 16 7 29 452
80 to 89 percent 767 43 12 17 18 77 600
90 to 94 percent 375 38 4 0 14 106 213
95 to 99 percent 482 106 12 9 3 167 185
100 percent or more 1082 166 70 38 38 135 636
Not reported 100 11 0 0 14 0 76
Median 86 96 12315 86 90 95 82
Other properties 1806 117 18 16 50 177 1429
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
4565 515 123 109 122 619 3076
Less than 40 percent 282 17 0 5 4 20 236
40 to 49 percent 191 15 3 0 4 0 170
50 to 59 percent 229 19 0 7 3 18 181
60 to 69 percent 944 115 49 21 22 86 650
70 to 79 percent 699 29 7 11 7 38 607
80 to 89 percent 761 40 11 23 30 146 511
90 to 94 percent 379 52 4 0 5 155 164
95 to 99 percent 392 122 11 8 3 93 156
100 percent or more 602 97 38 33 30 63 339
Not reported 85 11 0 0 14 0 61
Median 79 92 82 84 85 90 74
Other properties 1806 117 18 16 50 177 1429
Not available 0 0 0 0 0 0 0

First Mortgage Risk

Subprime loan
261 34 9 9 3 17 188
Not subprime loan 6109 598 132 115 168 778 4317
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
4565 515 123 109 122 619 3076
Less than 40 percent 176 13 0 4 4 16 139
40 to 49 percent 157 18 0 0 0 0 139
50 to 59 percent 249 27 0 7 7 18 190
60 to 69 percent 516 50 10 5 13 68 371
70 to 79 percent 439 31 3 20 7 20 358
80 to 89 percent 731 40 15 17 18 70 570
90 to 94 percent 384 35 4 0 11 112 221
95 to 99 percent 466 99 12 9 3 141 201
100 percent or more 1347 192 78 47 45 174 810
Not reported 100 11 0 0 14 0 76
Median 90 97 21199 96 93 95 85
Other properties 1806 117 18 16 50 177 1429
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
4565 515 123 109 122 619 3076
Less than 40 percent 743 54 4 11 26 49 600
40 to 49 percent 401 27 0 0 12 33 329
50 to 59 percent 505 49 10 9 11 62 364
60 to 69 percent 749 71 20 18 3 86 551
70 to 79 percent 677 64 11 18 26 98 461
80 to 89 percent 569 85 34 9 7 120 314
90 to 94 percent 225 25 5 10 8 51 126
95 to 99 percent 242 65 17 20 4 67 68
100 percent or more 369 65 22 14 11 55 202
Not reported 85 11 0 0 14 0 61
Median 68 78 85 80 71 78 64
Other properties 1806 117 18 16 50 177 1429
Not available 0 0 0 0 0 0 0

Total Outstanding Debt as a Percent
of Value

Less than 20 percent
683 27 7 3 21 34 591
20 to 29 percent 446 41 0 11 10 20 364
30 to 39 percent 512 48 7 4 14 72 368
40 to 49 percent 721 45 3 20 36 42 575
50 to 59 percent 880 77 16 17 6 99 666
60 to 69 percent 852 71 9 9 24 103 635
70 to 79 percent 859 46 46 20 15 139 592
80 to 89 percent 558 107 24 9 10 127 280
90 to 99 percent 438 107 17 17 8 100 189
100 percent or more 303 43 12 14 14 47 173
Not reported or not computed 118 20 0 0 14 12 72
Median 59 70 76 68 50 72 55

Index Used to Adjust Interest Rate
on ARM

Properties with adjustable
rate first mortgage
800 36 16 11 27 93 617
Treasury security 229 5 0 4 0 19 201
Average cost of funds in bank district 6 0 0 0 0 0 6
National average cost of funds 21 0 0 0 0 4 17
OTS contract mortgage rate 7 0 0 0 0 0 7
Other method 52 0 0 0 0 12 40
No index used 0 0 0 0 0 0 0
Not reported 485 31 16 7 27 57 346
Other properties 5570 596 125 113 145 703 3888
Not reported 0 0 0 0 0 0 0

Frequency With Which Rate Can Be
Adjusted

Properties with adjustable
rate first mortgage
800 36 16 11 27 93 617
Monthly 30 0 0 0 0 4 26
Every 3 months 4 0 0 0 0 0 4
Every 6 months 24 0 0 0 0 4 19
Yearly 190 5 6 4 0 24 151
Every 3 years 30 0 0 0 0 0 30
Every 5 years 35 0 0 0 0 0 35
Other 9 0 0 0 0 0 9
Not reported 479 31 10 7 27 61 343
Other properties 5570 596 125 113 145 703 3888
Not reported 0 0 0 0 0 0 0

Caps on Interest Rate Per Adjustment
Period

Properties with adjustable
rate first mortgage
800 36 16 11 27 93 617
Less than 1 percent 4 0 0 0 0 0 4
1 percent 0 0 0 0 0 0 0
1.1 to 1.9 percent 18 0 0 0 0 0 18
2 percent 171 0 0 0 0 20 151
2.1 to 2.9 percent 3 0 3 0 0 0 0
3 percent 25 0 0 0 0 4 21
3.1 to 3.9 percent 4 0 0 0 0 0 4
4.0 percent or more 44 5 3 0 0 4 31
No caps 44 0 0 0 0 4 40
Not reported 487 31 10 11 27 61 347
Other properties 5570 596 125 113 145 703 3888
Not reported 0 0 0 0 0 0 0

Caps on Interest Rate Over Life of ARM

Properties with adjustable
rate first mortgage
800 36 16 11 27 93 617
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 4 0 0 0 0 0 4
2.1 to 2.9 percent 0 0 0 0 0 0 0
3 percent 4 0 0 0 0 0 4
3.1 to 3.9 percent 0 0 0 0 0 0 0
4.0 percent or more 253 5 6 0 0 28 214
No caps 39 0 0 0 0 4 36
Not reported 500 31 10 11 27 61 360
Other properties 5570 596 125 113 145 703 3888
Not reported 0 0 0 0 0 0 0

Interest Rate Changed Since
Mortgage Made

Properties with adjustable
rate first mortgage
800 36 16 11 27 93 617
Yes, rate has changed 171 5 6 4 0 8 147
No change since mortgage made 152 0 0 0 0 23 129
Not reported 477 31 10 7 27 61 341
Other properties 5570 596 125 113 145 703 3888
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
15 0 0 0 0 0 15
Payments can change monthly 4 0 0 0 0 0 4
Payments can change every three months 0 0 0 0 0 0 0
Payments can change every six months 0 0 0 0 0 0 0
Payments can change yearly 11 0 0 0 0 0 11
Payments can change every 3 years 0 0 0 0 0 0 0
Payments can change every 5 years 0 0 0 0 0 0 0
Other 0 0 0 0 0 0 0
Not reported 0 0 0 0 0 0 0
Monthly payments cannot
change
5868 596 128 117 145 738 4144
Not reported 488 36 13 7 27 58 347

First Mortgage Allows for Negative
Amortization

Monthly payments can change
(other than change in interest
rate)
15 0 0 0 0 0 15
Yes, unrestricted negative amortization 4 0 0 0 0 0 4
Yes, restricted negative amortization 0 0 0 0 0 0 0
No negative amortization allowed 11 0 0 0 0 0 11
Not reported 0 0 0 0 0 0 0
Monthly payments cannot change 5868 596 128 117 145 738 4144
Not reported 488 36 13 7 27 58 347

MORTGAGE PAYMENTS AND OTHER EXPENSES


Method of Payment of First Mortgage

Regular payments of interest
and/or principal
6141 590 141 120 158 777 4355
Interest and principal 6141 590 141 120 158 777 4355
Fully amortized 5754 538 137 86 144 743 4106
Not fully amortized 386 52 5 34 13 33 249
Interest only 0 0 0 0 0 0 0
No regular payments required 25 3 0 0 0 0 22
Not reported 205 39 0 5 14 19 128

Items Included in First Mortgage
Payment@1

Regular monthly payments of
both interest and principal
6141 590 141 120 158 777 4355
Real estate taxes 2572 281 64 21 15 443 1748
Property insurance 1965 279 55 10 9 381 1230
Mortgage insurance 595 188 4 0 9 321 73
Other 693 111 32 0 6 147 397
No items included or not reported 3509 300 77 99 142 322 2568
No regular payments of interest
and principal
230 42 0 5 14 19 150

Monthly Interest and Principal Payments
on First Mortgage

Monthly payments of interest
and/or principal
6141 590 141 120 158 777 4355
Less than $100 24 0 3 0 7 0 14
$100 to $199 120 20 0 5 6 9 79
$200 to $299 404 49 0 9 14 31 300
$300 to $399 443 41 0 7 19 33 344
$400 to $499 528 44 3 12 4 65 400
$500 to $599 547 80 6 13 12 78 358
$600 to $699 543 71 18 9 5 83 357
$700 to $799 508 32 16 18 14 82 347
$800 to $899 507 71 9 3 10 66 347
$900 to $999 382 49 7 0 8 35 283
$1,000 to $1,249 783 57 43 19 27 127 512
$1,250 to $1,499 442 32 24 12 17 61 297
$1,500 or more 908 46 13 11 15 107 716
Median 791 687 1049 722 787 811 793
Mean 990 912 1004 816 1052 993 1003
No regular payments required 25 3 0 0 0 0 22
Not reported 205 39 0 5 14 19 128

Current First Mortgage Payment Status

Regular monthly payments of
principal and/or interest
6345 629 141 125 171 796 4483
Up-to-date, ahead of schedule, or
less than 90 days past due
3406 279 67 39 16 476 2529
Delinquent by 90 days or more 38 15 0 4 3 5 12
Legal proceedings have begun 20 5 0 4 0 5 7
Legal proceedings have not begun 13 10 0 0 3 0 0
Not reported 5 0 0 0 0 0 5
Not reported 2902 335 74 82 153 315 1942
Other properties 25 3 0 0 0 0 22

Monthly Interest and Principal Payments
on Total Mortgages

Regular monthly payments of
interest and/or principal
6173 595 141 120 158 777 4383
Less than $100 21 0 3 0 7 0 11
$100 to $199 120 20 0 5 4 9 82
$200 to $299 360 43 0 4 9 31 273
$300 to $399 396 38 0 3 16 29 310
$400 to $499 475 39 3 5 0 57 370
$500 to $599 537 71 6 17 17 71 355
$600 to $699 533 71 18 18 8 82 336
$700 to $799 477 35 13 18 18 80 313
$800 to $899 485 82 0 7 10 60 325
$900 to $999 415 51 8 0 3 40 312
$1,000 to $1,249 866 61 43 19 28 123 592
$1,250 to $1,499 479 36 22 12 20 64 324
$1,500 or more 1009 47 25 11 18 130 778
Median 834 744 1113 743 813 846 843
Mean 1101 936 1940 861 1119 1035 1115
No regular monthly payments
required
198 37 0 5 14 19 123

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

Monthly payments of interest
and/or principal
6141 590 141 120 158 777 4355
Less than 5 percent 287 18 3 8 7 26 225
5 to 9 percent 1188 96 2 31 45 107 907
10 to 14 percent 1571 144 50 6 21 214 1135
15 to 19 percent 1120 96 26 33 38 170 758
20 to 24 percent 631 66 15 16 10 82 441
25 to 29 percent 315 39 20 5 16 37 199
30 to 34 percent 175 29 5 1 5 33 100
35 to 39 percent 112 14 3 0 4 0 91
40 to 49 percent 135 17 4 6 3 12 94
50 percent or more 198 29 3 11 4 26 125
Not reported or not computed 409 42 9 4 5 69 280
Median 14 16 17 17 16 15 14
No regular payments required 230 42 0 5 14 19 150

Real Estate Tax

Acquired before 2000
5607 528 131 111 148 678 4012
Less than $100 716 118 15 31 18 95 439
$100 to $199 16 5 0 0 0 0 11
$200 to $299 14 0 0 0 0 4 10
$300 to $399 49 11 0 0 0 11 27
$400 to $499 38 0 0 0 3 4 32
$500 to $599 33 0 0 0 0 3 30
$600 to $699 66 12 0 0 4 18 32
$700 to $799 49 6 2 5 0 9 26
$800 to $899 93 4 0 0 4 16 68
$900 to $999 74 20 0 0 0 0 54
$1,000 to $1,249 348 40 0 11 13 51 232
$1,250 to $1,499 210 16 5 6 7 45 133
$1,500 to $1,999 524 54 24 8 15 59 364
$2,000 to $2,499 600 54 27 4 7 76 432
$2,500 or more 2737 176 58 46 73 282 2101
Not reported 43 12 0 0 4 5 22
Median 2462 1746 2356 1686 1616134 2143 5036170
Mean 2955 2055 2492 2400 2912 2590 3165
Acquired 2000 and 2001 (part) 763 105 11 14 23 118 493

Real Estate Tax as Percent of Income

Acquired before 2000
5607 528 131 111 148 678 4012
Less than 1.0 percent 799 102 13 31 25 145 484
1.0 to 1.9 percent 536 44 7 9 3 42 431
2.0 to 2.9 percent 933 80 21 8 42 93 688
3.0 to 3.9 percent 803 60 32 16 27 132 536
4.0 to 4.9 percent 622 54 12 0 16 74 466
5.0 to 7.4 percent 832 71 18 15 13 83 633
7.5 to 9.9 percent 300 16 15 17 0 32 219
10.0 percent or more 363 46 3 11 18 12 273
Not reported or computed 420 55 9 4 4 65 284
Median 3.4 3.2 3.6 3.3 3.1 3.2 3.5
Other properties 763 105 11 14 23 118 493

Real Estate Tax Per $1,000 Value

Acquired before 2000
5607 528 131 111 148 678 4012
Less than $5 810 127 15 27 18 117 506
$5 to $9 547 21 6 6 12 95 408
$10 to $14 1098 67 33 25 37 100 835
$15 to $19 1123 107 25 15 19 146 811
$20 to $24 830 96 26 5 28 65 610
$25 to $29 549 38 8 19 10 69 406
$30 to $39 606 60 16 15 20 82 414
$40 to $49 0 0 0 0 0 0 0
$50 to $59 0 0 0 0 0 0 0
$60 or more 0 0 0 0 0 0 0
Not reported or not computed 43 12 0 0 4 5 22
Median 16 17 17 14 16 16 17
Acquired 2000 and 2001 (part) 763 105 11 14 23 118 493

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