U.S. Department of Commerce

Residential Finance Survey

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Residential Finance Survey: 2001 - Midwest
Table 2-3c. 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
9042 815 200 157 182 997 6690

PROPERTY CHARACTERISTICS


Property Location by Geographic Area

Inside MAs
7065 675 164 104 155 753 5213
In central cities 2063 284 80 39 39 283 1339
Not in central cities 5002 392 85 65 116 470 3875
Outside MAs 1977 140 36 53 27 244 1477

Manner of Acquisition

By purchase
8883 806 190 153 177 975 6580
Placed one new mortgage 8409 788 185 146 168 952 6170
Placed two or more new mortgages 121 2 0 4 3 2 109
Assumed mortgage(s) already on property 166 12 6 4 6 9 130
Assumed mortgage(s) already on property
and placed new mortgage
22 0 0 0 0 4 19
Borrowed using assets other than this
property as collateral
43 4 0 0 0 0 40
Paid all cash-no borrowing 108 0 0 0 0 9 99
Other manner 14 0 0 0 0 0 14
By inheritance or gift 64 9 4 0 0 4 48
By divorce 27 0 6 0 0 0 21
By some other manner 7 0 0 0 0 0 7
Not reported 61 0 0 4 5 18 34

Source of Downpayment@1

Properties purchased
1995 to 2001 (part)
4706 513 99 66 101 717 3210
Sale of previous home 1723 60 16 14 31 237 1364
Sale of other real property or other
investments
183 25 0 4 4 36 115
Savings 2253 280 32 18 46 425 1451
Borrowing from a retirement plan 166 29 5 4 0 22 105
Borrowing using assets other than this
property as collateral
139 26 7 0 15 10 82
Proceeds from an insurance policy 38 0 0 0 0 7 32
Payments in a lease-purchase agreement 51 9 0 3 0 0 39
From a state or local government source 51 9 3 0 0 7 31
From a non-profit organization 9 0 0 0 0 0 9
From parents or relatives 400 66 15 8 8 76 226
Other 18 0 0 0 5 6 7
No downpayment required 324 54 30 15 10 28 188
Not reported 105 14 0 7 0 12 72
Other properties 4298 303 102 87 76 268 3463
Not reported 37 0 0 4 5 12 17

Year Property Acquired

1999 to 2001 (part)
2148 262 30 41 55 353 1408
1997 and 1998 1538 186 43 17 27 223 1042
1995 and 1996 1115 74 32 12 25 154 818
1990 to 1994 1783 142 30 23 37 133 1418
1985 to 1989 1083 76 29 30 19 68 860
1980 to 1984 487 27 4 26 3 20 407
1975 to 1979 534 38 23 9 13 29 423
1970 to 1974 199 11 9 0 0 17 162
1969 or earlier 155 0 0 0 3 0 152

Building and Land Acquisition

Acquired at same time
8264 773 200 126 163 938 6064
Not acquired at same time 631 15 0 12 14 48 541
Land not owned by building owner 87 12 0 8 5 7 55
Not reported 60 15 0 11 0 4 30

Property New or Previously Occupied When
Acquired

Acquired by purchase
8883 806 190 153 177 975 6580
New 1831 57 21 44 34 169 1504
Previously occupied by someone else 7017 745 166 109 143 806 5048
Converted from non-residential use 3 0 0 0 0 0 3
Other 8 0 0 0 0 0 8
Not reported 24 4 3 0 0 0 17
Other properties 98 9 10 0 0 4 75
Not reported 61 0 0 4 5 18 34

Year Structure Built

1999 to March 2000
450 43 0 22 9 71 305
1997 and 1998 388 31 9 9 7 50 282
1995 and 1996 446 17 9 4 0 56 360
1990 to 1994 798 45 28 8 16 76 624
1980 to 1989 1182 74 13 36 32 121 907
1970 to 1979 1374 146 22 25 27 147 1008
1960 to 1969 945 74 24 8 29 100 710
1950 to 1959 1291 175 43 16 37 146 873
1940 to 1949 662 88 19 10 12 80 451
1939 or earlier 1507 122 33 19 13 151 1169

Purchase Price

Properties acquired by
purchase 1997 to 2001 (part)
3598 442 67 54 76 567 2392
Less than $20,000 73 12 0 5 0 8 48
$20,000 to $39,999 250 47 4 3 9 26 160
$40,000 to $59,999 341 30 0 14 4 42 250
$60,000 to $79,999 490 74 7 14 14 86 295
$80,000 to $99,999 450 119 13 0 7 73 238
$100,000 to $124,999 426 52 20 7 0 77 270
$125,000 to $149,999 447 58 12 0 25 107 244
$150,000 to $174,999 300 22 4 0 5 52 218
$175,000 to $199,999 194 7 7 0 5 19 155
$200,000 to $249,999 253 13 0 0 0 25 216
$250,000 to $299,999 140 4 0 6 4 23 103
$300,000 to $499,999 186 4 0 4 0 25 153
$500,000 or more 48 0 0 0 4 5 40
Median 111457 89712 111743 65435 129662 115877 118869
Mean 135449 96215 111726 101628 148931 132224 144458
Other properties 5444 374 133 103 106 430 4298

Value

Less than $20,000
98 17 0 5 0 14 62
$20,000 to $39,999 332 41 11 14 14 41 210
$40,000 to $59,999 676 84 14 22 18 71 469
$60,000 to $79,999 1010 104 38 14 20 131 703
$80,000 to $99,999 1317 184 32 23 27 132 919
$100,000 to $124,999 1221 105 36 25 17 151 887
$125,000 to $149,999 1024 104 39 9 44 134 694
$150,000 to $174,999 871 66 16 4 9 93 684
$175,000 to $199,999 648 39 4 11 11 67 517
$200,000 to $249,999 754 31 7 13 11 80 612
$250,000 to $299,999 379 30 0 6 4 17 322
$300,000 to $499,999 522 12 0 13 4 46 449
$500,000 or more 190 0 4 0 4 21 161
Median 122264 97599 103426 101024 116787 118316 128384
Mean 147925 111215 111048 134206 136097 141733 155069

Purchase Price as Percent of Value@8

Acquired by purchase
8883 806 190 153 177 975 6580
Purchased 1997 to 2001 (part) 3598 442 67 54 76 567 2392
Less than 60 percent 346 30 0 5 7 27 277
60 to 69 percent 244 16 0 5 5 13 204
70 to 79 percent 434 65 20 9 4 65 271
80 to 99 percent 1940 242 31 16 42 378 1230
100 percent or more 630 88 15 19 18 84 406
Median 88 89 88 90 90 89 87
Purchased 1990 to 1996 (part) 2871 212 62 35 62 277 2223
Less than 40 percent 190 5 0 0 0 24 162
40 to 59 percent 514 32 0 0 15 43 425
60 to 79 percent 1047 88 30 21 17 90 801
80 to 99 percent 830 69 18 9 12 103 620
100 percent or more 280 18 14 5 18 18 207
Median 74 76 81 77 79 76 73
Purchased 1989 or earlier 2414 152 62 65 39 131 1966
Less than 20 percent 252 10 4 9 0 0 229
20 to 39 percent 633 23 25 9 11 9 557
40 to 59 percent 713 41 13 14 11 63 571
60 to 79 percent 432 47 12 13 0 24 336
80 to 99 percent 106 13 3 16 0 3 70
100 percent or more 275 19 5 4 17 31 199
Median 49 61 44 61 56 58 47
Not acquired by purchase 159 9 10 4 5 21 110

Value-Income Ratio

Less than 1.0
659 60 16 5 14 88 476
1.0 to 1.4 1288 122 39 19 29 129 950
1.5 to 1.9 1946 165 45 35 85 273 1343
2.0 to 2.4 1516 164 30 30 8 226 1058
2.5 to 2.9 986 85 16 12 9 94 771
3.0 to 3.4 612 58 12 8 9 59 465
3.5 to 3.9 439 35 12 3 3 33 352
4.0 or more 955 80 14 22 16 50 773
Not reported or not computed 640 48 15 22 9 45 501
Median 2.1 2.1 1.9 2.1 1.8 2.0 2.2

Value of Capital Improvements

Properties with capital
improvements between 1998
and 2000
5533 473 109 59 96 611 4185
Less than $500 103 19 4 0 4 12 65
$500 to $999 186 14 3 0 7 19 143
$1,000 to $2,499 834 50 21 6 27 78 651
$2,500 to $4,999 1061 123 36 13 17 149 723
$5,000 to $7,499 1014 103 10 3 14 143 741
$7,500 to $9,999 327 11 4 0 3 33 277
$10,000 to $14,999 681 68 5 3 9 88 507
$15,000 to $19,999 359 32 4 0 3 29 291
$20,000 to $29,999 545 21 13 27 3 42 439
$30,000 or more 423 34 11 5 7 18 347
Median 6435 5756 4402 21130 3962 5832 6719
Mean 11001 8713 9400 15260 8818 8482 11660
Properties with no capital
improvements between 1998 and 2000
2781 261 87 62 51 315 2004
Capital improvements not
reported
728 81 3 36 35 71 501

Age Restrictions

Property located in subdivision
restricted to people age 55 or older
473 29 4 3 14 41 382
Property located in subdivision not
restricted to people age 55 or older
8226 756 191 137 154 935 6054
Not reported 343 30 6 17 14 21 255

Neighborhood Composition

Property located in subdivision or
neighborhood occupied predominantly by
people age 55 or older
652 74 22 10 18 42 486
Property located in subdivision or
neighborhood not occupied predominantly
by people age 55 or older
6125 534 140 103 91 700 4558
Don't know or not reported 2264 208 38 44 74 254 1647

Type of Property Benefits@1

Government-sponsored below-market
interest rate mortgage loan
76 26 3 9 4 4 30
Other government grant or subsidy 53 7 0 5 0 7 34
Property tax relief 277 22 3 0 0 29 223
Subsidy from a non-profit corporation 3 0 0 0 0 0 3
None of the above benefits 7107 547 149 103 134 772 5402
Not reported 1530 213 45 40 44 186 1002

Source of Property Benefits@1

With property benefits
404 55 7 14 4 39 286
Federal government 63 20 0 14 4 4 21
State government 210 19 3 0 0 32 155
Local government 86 11 3 0 0 4 68
Non-profit corporation 3 0 0 0 0 0 3
Not reported 51 5 0 0 0 4 42
With no property benefits 7107 547 149 103 134 772 5402
Not reported 1530 213 45 40 44 186 1002

Reason for Benefits@1

With property benefits
404 55 7 14 4 39 286
Occupied by low- or moderate-income
individuals
102 25 3 9 0 10 55
Occupied by elderly or disabled
individuals
28 0 0 5 0 0 22
A historic structure 7 0 0 0 0 4 4
Located in a community development or
economic development area
38 7 0 0 0 0 31
Covered by a Homestead Exemption 215 18 3 0 0 16 177
Covered by a Community Land Trust 5 0 0 0 0 0 5
Covered by disaster relief 0 0 0 0 0 0 0
Other reason 56 8 3 5 4 13 24
Not reported 17 0 0 0 0 0 17
With no property benefits 7107 547 149 103 134 772 5402
Not reported 1530 213 45 40 44 186 1002

OWNER CHARACTERISTICS


Owner Status

1 owner
2892 327 80 61 55 310 2059
2 owners 6063 465 121 96 128 668 4586
3 or more owners 88 24 0 0 0 19 45

Age of Owner

Under 25
89 22 0 0 4 15 48
25 to 34 1513 201 26 27 24 261 974
35 to 44 2625 214 62 40 63 334 1912
45 to 54 2628 199 43 37 54 234 2062
55 to 64 1194 93 49 14 19 82 936
65 to 74 402 38 9 14 4 18 319
75 and over 126 11 4 3 0 4 104
Not reported 465 38 7 23 14 50 334
Median 45 43 47 45 44 41 46

Race of Owner

White alone
8299 700 178 153 157 926 6185
Black or African American alone 474 86 22 4 11 54 296
American Indian or Alaska Native alone 26 11 0 0 4 0 12
Asian alone 161 12 0 0 11 14 124
Native Hawaiian or Other Pacific
Islander alone
9 0 0 0 0 0 9
Two or more races 73 6 0 0 0 3 64

Sex of Owner

Male/Male and female co-owners
7537 629 173 120 157 842 5616
Female 1504 186 28 37 25 155 1074

Hispanic/Latino Origin

Hispanic/Latino owner(s) only
379 95 4 11 0 24 245
No Hispanic/Latino owner(s) 8663 720 196 146 182 973 6445

Veteran Status@1

Veteran
1734 130 127 21 33 152 1271
Active member of Reserves or National
Guard for at least 6 years
263 21 9 0 3 25 205
Persian Gulf War or after
(August 1990 to present)
181 24 35 0 9 22 92
Vietnam or after
(August 1964 to July 1990)
1073 95 93 18 25 88 754
Korean conflict or after
(July 1950 to July 1964)
304 28 10 0 0 22 243
World War II or after
(September 1940 to June 1950)
106 9 0 3 0 9 86
Nonveteran 6830 659 59 116 131 799 5065
Not reported 478 25 14 20 18 46 354

Income

Less than $5,000
683 52 15 22 9 45 540
$5,000 to $9,999 69 15 0 0 0 6 49
$10,000 to $14,999 171 20 12 13 5 0 121
$15,000 to $19,999 194 13 0 7 0 20 155
$20,000 to $24,999 354 35 6 18 11 25 260
$25,000 to $29,999 347 54 11 7 9 30 236
$30,000 to $34,999 443 65 16 18 5 52 287
$35,000 to $39,999 448 94 17 3 0 32 302
$40,000 to $49,999 1063 120 20 4 30 187 703
$50,000 to $59,999 1008 92 24 19 18 114 742
$60,000 to $79,999 1731 124 43 7 36 218 1301
$80,000 to $99,999 963 62 14 9 33 114 730
$100,000 to $119,999 580 27 15 15 9 45 470
$120,000 or more 987 44 7 14 16 109 796
Median 57418 45077 51299 33080 62169 59025 59352
Mean 68473 52513 61950 53655 66620 68871 70953

Owned Home Previously

Previously owned home
5117 319 79 54 92 559 4014
Never owned home before 3592 470 118 81 72 410 2441
Not reported 333 26 3 22 18 28 235

MORTGAGE CHARACTERISTICS


Number of Mortgages

1 mortgage
6499 639 129 126 141 732 4732
2 mortgages 2240 144 68 31 37 227 1732
3 or more mortgages 303 32 4 0 4 37 226

Form of Debt of First Mortgage

Mortgage or deed of trust
9042 815 200 157 182 997 6690
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
37 0 0 0 0 4 33
By telephone or FAX 908 38 19 14 23 110 705
By regular mail 130 18 3 7 3 21 76
By personal visit 6124 505 137 107 120 618 4638
Through third party (such as real
estate agent or builder)
1186 202 34 19 16 200 715
Some other way 33 6 0 5 3 0 18
Not reported 558 37 8 4 11 44 454
Not available 66 8 0 0 6 0 51

Origin of First Mortgage

Mortgage made at time property acquired
6323 702 154 132 141 792 4402
Mortgage assumed at the time property
acquired
134 12 0 0 6 4 113
Mortgage placed later than acquisition of
property
2585 102 46 25 36 201 2175
Refinanced mortgage 2379 88 46 25 32 185 2002
Same lender 785 31 25 7 9 56 657
Different lender 1594 57 22 18 23 129 1345
Mortgage placed on property
owned free and clear of debt
207 14 0 0 3 16 174
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
2585 102 46 25 36 201 2175
Obtain lower interest rate 1535 66 29 25 20 118 1277
Increase payment period for mortgage 31 0 0 0 0 7 23
Reduce payment period for mortgage 56 0 0 0 0 4 52
Renew or extend loan that had fallen
due, without increasing outstanding
balance
41 3 0 0 3 0 34
Receive cash or increase outstanding
balance of loan
729 19 11 0 7 47 646
Other reason 101 0 0 0 6 11 84
Not reported 92 13 6 0 0 13 59
Other properties 6456 714 154 132 146 796 4515
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
1116 46 24 4 20 85 936
Less than $20,000 520 37 11 4 9 49 410
$20,000 to $39,999 337 5 6 0 7 20 299
$40,000 to $59,999 104 0 4 0 0 4 97
$60,000 to $79,999 61 4 0 0 3 13 41
$80,000 to $99,999 27 0 0 0 0 0 27
$100,000 to $124,999 24 0 3 0 0 0 20
$125,000 to $149,999 5 0 0 0 0 0 5
$150,000 to $174,999 13 0 0 0 0 0 13
$175,000 to $199,999 11 0 0 0 0 0 11
$200,000 to $249,999 8 0 0 0 0 0 8
$250,000 to $299,999 6 0 0 0 0 0 6
$300,000 or more 0 0 0 0 0 0 0
Median 22213 12326 24185 10000 21555 17477 23868
Mean 31592 15952 34856 9636 23865 23106 33298
Properties that refinanced
and did not receive cash back
1240 50 22 18 16 107 1027
Properties that refinanced
and did not report if received
cash back
230 5 0 3 0 9 212
Properties that did not
refinance
6456 714 154 132 146 796 4515
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
1116 46 24 4 20 85 936
For additions, improvements or repairs
to this property
620 23 12 0 20 60 505
To consolidate debts 481 29 6 4 13 40 389
For investment in other real estate 72 0 0 0 0 0 72
For other types of investments 52 5 0 0 0 3 44
For educational or medical expenses 76 4 0 0 0 0 72
To start a business 30 4 6 0 0 0 20
To settle a divorce 54 0 0 0 0 0 54
To pay taxes 37 0 0 0 0 0 37
To purchase an automobile, truck, or
other vehicle
94 0 4 0 0 15 75
To purchase consumer product other than
automobile, truck, or other vehicle
33 0 0 0 0 4 29
Other 21 5 0 0 0 0 15
Not reported 9 0 0 0 0 0 9
Properties that refinanced
and did not receive cash back
1240 50 22 18 16 107 1027
Properties that refinanced
and did not report if received
cash back
230 5 0 3 0 9 212
Properties that did not
refinance
6456 714 154 132 146 796 4515
Not available 0 0 0 0 0 0 0

Purpose of Second Mortgage

Properties with second
mortgage
1003 78 41 13 10 97 763
Provide funds for the purchase of this
property
79 2 0 0 0 0 76
Provide funds for additions,
improvements or repairs to this
property
228 20 16 9 0 27 155
Provide funds for consolidation of debts 225 15 16 0 0 30 163
Provide funds for investment in other
real estate
14 0 0 0 0 0 14
Provide funds for other types of
investments
11 0 0 4 0 0 7
Provide funds for educational or
medical expenses
17 0 4 0 0 0 14
Provide funds for starting a business 18 0 0 0 4 0 14
Provide funds to settle a divorce 10 0 0 0 0 0 10
Provide funds to pay taxes 4 0 0 0 0 0 4
Provide funds to purchase automobile,
truck, or vehicle
49 0 6 0 3 4 36
Provide funds to purchase another type
of consumer product
9 0 0 0 0 0 9
Other reasons 9 5 0 0 0 0 4
Not reported 331 36 0 0 3 35 257
Other properties 8038 737 159 144 172 900 5927

Purpose of Home Equity Line of Credit

Properties with home equity
line of credit
1838 130 34 18 34 201 1420
Provide funds for additions,
improvements or repairs to this
property
636 49 14 13 12 77 471
Provide funds for consolidation of debts 316 26 0 5 3 35 246
Provide funds for investment in other
real estate
33 0 0 0 0 0 33
Provide funds for other types of
investments
49 4 0 0 4 7 34
Provide funds for educational or
medical expenses
26 4 0 0 0 6 17
Provide funds for starting a business 24 0 5 0 3 4 11
Provide funds to settle a divorce 7 0 0 0 0 4 4
Provide funds to pay taxes 7 0 0 0 0 0 7
Provide funds to purchase automobile,
truck, or vehicle
148 0 7 0 0 8 133
Provide funds to purchase another type
of consumer product
26 0 4 0 0 6 16
Other reasons 38 0 0 0 0 0 38
Not reported 529 48 4 0 11 55 411
Other properties 7204 685 166 139 148 796 5270

Year First Mortgage Made or
Assumed

1999 to 2001 (part)
3641 300 46 53 76 466 2701
1997 and 1998 2214 232 69 22 34 252 1606
1995 and 1996 872 72 23 8 12 137 619
1990 to 1994 1409 100 33 24 31 91 1129
1985 to 1989 441 53 5 27 12 33 311
1980 to 1984 159 18 4 18 3 4 111
1979 or earlier 306 39 21 5 13 15 213

Traditional First Mortgage Loan

Less than $20,000
383 54 15 14 4 14 282
$20,000 to $29,999 572 49 4 11 13 33 462
$30,000 to $39,999 772 35 17 12 14 80 614
$40,000 to $49,999 845 83 11 21 25 78 626
$50,000 to $59,999 793 75 25 21 18 63 590
$60,000 to $79,999 1506 145 38 17 21 172 1113
$80,000 to $99,999 1168 167 44 9 19 124 805
$100,000 to $149,999 1752 149 35 26 51 277 1214
$150,000 to $199,999 558 35 11 0 5 64 442
$200,000 to $249,999 301 8 0 6 4 42 242
$250,000 to $299,999 110 0 0 9 0 11 90
$300,000 or more 141 0 0 0 4 24 114
Not reported 142 16 0 12 5 15 95
Median 74417 74314 74544 57213 74735 88082 72983
Mean 92613 76213 75702 78710 89055 104353 93768

Total Mortgage Loan

Less than $20,000
333 46 10 14 4 14 245
$20,000 to $29,999 520 52 0 11 13 33 411
$30,000 to $39,999 695 39 11 12 14 75 544
$40,000 to $49,999 766 66 19 16 21 69 575
$50,000 to $59,999 787 66 26 26 14 63 591
$60,000 to $79,999 1405 143 33 13 24 159 1033
$80,000 to $99,999 1238 167 44 9 23 118 879
$100,000 to $149,999 1888 170 47 26 48 293 1303
$150,000 to $199,999 661 38 11 0 9 67 536
$200,000 to $249,999 298 8 0 6 4 49 231
$250,000 to $299,999 138 0 0 13 0 16 109
$300,000 or more 171 4 0 0 4 24 140
Not reported 142 16 0 12 5 15 95
Median 79196 78126 80749 57767 78321 93020 78052
Mean 97938 80372 81245 83848 91302 108013 99563

Traditional First Mortgage Outstanding
Debt

Less than $10,000
365 41 13 11 13 13 274
$10,000 to $19,999 617 36 11 23 0 25 523
$20,000 to $29,999 644 50 4 0 21 53 516
$30,000 to $39,999 894 66 22 32 7 86 681
$40,000 to $49,999 731 62 20 7 18 71 554
$50,000 to $59,999 744 72 9 16 18 76 554
$60,000 to $79,999 1424 175 47 11 29 153 1008
$80,000 to $99,999 1098 117 38 24 30 152 738
$100,000 to $149,999 1475 158 24 8 28 221 1035
$150,000 to $199,999 503 22 11 0 5 75 389
$200,000 to $249,999 216 0 0 6 4 33 173
$250,000 to $299,999 74 0 0 9 0 5 60
$300,000 or more 114 0 0 0 4 18 92
Not reported 142 16 0 12 5 15 95
Median 66384 68346 68790 50217 67961 81788 63923
Mean 83352 71069 68623 71617 81345 96098 83703

Total Mortgage Outstanding Debt

Less than $10,000
294 38 10 11 13 13 210
$10,000 to $19,999 556 29 6 23 0 25 474
$20,000 to $29,999 634 57 9 0 21 53 494
$30,000 to $39,999 799 64 15 27 3 81 609
$40,000 to $49,999 688 55 21 12 14 60 525
$50,000 to $59,999 742 77 9 16 18 63 560
$60,000 to $79,999 1383 164 48 3 36 145 986
$80,000 to $99,999 1175 105 45 28 26 163 807
$100,000 to $149,999 1590 186 28 8 32 231 1105
$150,000 to $199,999 595 26 11 0 5 82 471
$200,000 to $249,999 230 0 0 10 4 42 175
$250,000 to $299,999 91 4 0 9 0 5 73
$300,000 or more 132 0 0 0 4 18 110
Not reported 133 11 0 12 5 15 91
Median 70725 70148 73170 50217 70239 86172 68682
Mean 87003 73803 73591 71069 81176 98129 87888

Current Interest Rate on First Mortgage

Less than 6.0 percent
2232 34 8 81 95 190 1824
6.0 percent 79 6 3 1 7 0 62
6.1 to 6.4 percent 201 13 5 0 0 22 161
6.5 to 6.9 percent 1082 56 10 10 11 117 880
7.0 percent 751 63 18 9 4 88 570
7.1 to 7.4 percent 893 73 18 4 4 155 640
7.5 to 7.9 percent 964 107 38 5 13 138 663
8.0 percent 273 58 22 3 0 26 164
8.1 to 8.4 percent 271 28 0 0 9 31 203
8.5 to 8.9 percent 357 60 16 7 0 43 231
9.0 percent 108 13 0 5 6 10 74
9.1 to 9.4 percent 99 15 5 0 0 8 72
9.5 to 9.9 percent 154 40 11 0 0 19 83
10.0 percent 24 4 0 0 0 0 20
10.1 to 10.4 percent 63 35 4 0 0 0 25
10.5 to 10.9 percent 101 51 3 4 0 0 42
11.0 percent 98 7 0 0 9 11 71
11.1 to 12.9 percent 147 68 14 7 0 0 58
13.0 percent 24 0 0 4 0 0 20
13.1 percent or more 1122 87 25 18 26 139 828
Not reported 0 0 0 0 0 0 0
Median 7.2 8.1 8.0 5.8 5.7 7.3 7.1

Type of Interest Rate Buydown

Properties with interest rate
buydown
196 16 3 4 0 13 159
Constant payment 25 0 0 0 0 4 21
3-2-1 buydown 7 3 0 0 0 0 4
Other 16 4 0 0 0 0 13
Not reported 148 9 3 4 0 9 122
Properties without interest
rate buydown
4509 357 114 50 54 539 3395
Not reported 4337 442 82 104 128 445 3135

Term of First Mortgage

Less than 5 years
69 0 0 0 0 0 69
5 years 99 0 0 0 4 9 85
6 to 9 years 101 0 0 0 0 4 97
10 years 233 6 0 0 0 3 224
11 to 14 years 53 0 0 0 3 0 49
15 years 1247 0 14 0 4 49 1181
16 to 19 years 17 0 0 0 0 0 17
20 years 280 4 0 0 4 24 249
21 to 24 years 4 0 0 0 0 4 0
25 years 105 3 0 0 0 10 92
26 to 29 years 19 4 0 0 0 0 15
30 years 3308 798 186 13 39 558 1712
More than 30 years 50 0 0 41 0 0 9
No stated term 3458 0 0 104 128 336 2890
Median 30 30 30 54 30 30 21

Unexpired Term of First Mortgage

Less than 5 years
355 13 4 0 4 19 315
5 to 9 years 674 45 20 0 0 15 594
10 to 14 years 945 18 19 4 7 38 859
15 to 19 years 449 58 5 11 4 26 346
20 to 24 years 513 100 42 9 10 76 275
25 to 29 years 2082 475 104 12 20 395 1078
30 or more years 567 107 5 18 9 93 333
No stated term or not computed 3458 0 0 104 128 336 2890
Median 24 27 25 26 26 27 17

Holder of First Mortgage

Commercial bank or trust company
1475 92 8 23 23 132 1197
Savings and loan association, federal
savings bank
967 63 9 3 21 88 783
Mutual savings bank 106 3 4 0 0 10 89
Life insurance company 135 22 10 10 3 9 80
Mortgage banker or mortgage company 511 51 16 0 0 109 336
Federally-sponsored secondary market
agency or pool
4378 482 114 64 85 519 3114
Conventional mortgage pool 149 3 13 0 5 21 105
Other federal agency 219 17 6 41 3 16 136
Real estate investment trust 16 0 0 0 0 0 16
Pension or retirement fund 14 0 0 0 0 0 14
Credit union 308 12 4 4 4 7 278
Finance company 151 0 0 0 4 10 137
State or municipal government or
housing finance agency
318 42 9 12 25 29 203
Individual or individual's estate 166 10 8 0 9 25 114
Other 128 18 0 0 0 21 88

Servicer of First Mortgage

Commercial bank or trust company
2025 106 16 30 37 197 1640
Savings and loan association, federal
savings bank
1209 98 40 5 33 147 886
Mutual savings bank 106 3 0 0 0 10 92
Life insurance company 121 18 4 10 3 9 76
Mortgage banker or mortgage company 4281 490 116 57 80 525 3013
Federally-sponsored secondary market
agency or pool
33 10 4 0 0 3 16
Conventional mortgage pool 14 0 0 0 0 9 5
Other federal agency 211 17 6 41 3 11 133
Real estate investment trust 0 0 0 0 0 0 0
Pension or retirement fund 3 0 0 0 0 0 3
Credit union 317 12 4 4 4 10 283
Finance company 151 0 0 0 4 10 137
State or municipal government or
housing finance agency
273 32 4 11 9 19 199
Individual or individual's estate 160 10 8 0 9 25 108
Other 137 18 0 0 0 21 98

Holder's Acquisition of First Mortgage

Originated directly from borrower
4030 283 61 67 87 330 3202
Purchased from present servicer 2626 255 48 57 66 352 1847
Purchased from someone else 2386 277 92 33 29 314 1641
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
6334 705 148 128 141 778 4434
Less than 40 percent 225 0 0 9 9 5 202
40 to 49 percent 177 7 0 0 3 21 145
50 to 59 percent 248 11 3 6 9 0 219
60 to 69 percent 656 71 18 21 16 46 484
70 to 79 percent 724 44 3 20 4 57 596
80 to 89 percent 1112 72 13 18 46 116 847
90 to 94 percent 552 41 3 0 11 178 318
95 to 99 percent 715 131 19 12 9 212 332
100 percent or more 1793 312 89 35 35 129 1194
Not reported 134 14 0 8 0 15 97
Median 90 99 16775 82 87 94 86
Other properties 2708 111 52 29 41 219 2256
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
6334 705 148 128 141 778 4434
Less than 40 percent 263 0 0 9 9 4 241
40 to 49 percent 233 7 4 0 3 18 201
50 to 59 percent 267 11 6 6 9 0 235
60 to 69 percent 1151 117 32 18 21 80 883
70 to 79 percent 1018 42 0 20 18 71 867
80 to 89 percent 1123 75 9 23 39 197 780
90 to 94 percent 523 40 9 5 8 196 265
95 to 99 percent 613 218 13 11 9 139 222
100 percent or more 1022 179 73 29 26 59 656
Not reported 121 14 0 8 0 15 84
Median 82 96 100 84 83 90 77
Other properties 2708 111 52 29 41 219 2256
Not available 0 0 0 0 0 0 0

First Mortgage Risk

Subprime loan
505 35 5 11 20 24 411
Not subprime loan 8536 780 195 147 162 973 6279
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
6334 705 148 128 141 778 4434
Less than 40 percent 169 0 0 5 9 5 150
40 to 49 percent 187 7 0 0 3 21 155
50 to 59 percent 230 11 3 6 9 0 202
60 to 69 percent 577 59 9 25 12 42 429
70 to 79 percent 653 44 3 11 4 52 539
80 to 89 percent 970 65 5 18 46 109 727
90 to 94 percent 531 41 3 4 11 146 325
95 to 99 percent 650 122 12 17 9 183 307
100 percent or more 2234 340 112 35 38 206 1503
Not reported 134 14 0 8 0 15 97
Median 93 100 34327 88 87 95 90
Other properties 2708 111 52 29 41 219 2256
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
6334 705 148 128 141 778 4434
Less than 40 percent 754 54 8 5 16 18 653
40 to 49 percent 512 42 10 6 7 43 405
50 to 59 percent 708 48 10 18 21 67 545
60 to 69 percent 887 73 14 32 18 59 691
70 to 79 percent 1135 125 22 26 20 181 762
80 to 89 percent 1023 110 23 5 42 218 625
90 to 94 percent 351 86 10 4 9 66 177
95 to 99 percent 289 69 22 13 5 39 141
100 percent or more 553 85 30 11 3 72 352
Not reported 121 14 0 8 0 15 84
Median 72 80 85 70 74 81 68
Other properties 2708 111 52 29 41 219 2256
Not available 0 0 0 0 0 0 0

Total Outstanding Debt as a Percent
of Value

Less than 20 percent
669 34 14 10 11 23 577
20 to 29 percent 587 18 15 9 5 22 518
30 to 39 percent 727 49 11 0 9 36 622
40 to 49 percent 974 80 0 27 28 83 757
50 to 59 percent 1130 72 6 23 18 103 908
60 to 69 percent 1114 79 20 31 23 86 876
70 to 79 percent 1539 129 49 24 34 210 1093
80 to 89 percent 1019 158 32 4 33 241 551
90 to 99 percent 649 132 37 13 12 105 351
100 percent or more 480 52 17 4 3 73 330
Not reported or not computed 154 14 0 12 5 15 108
Median 63 75 77 61 68 77 59

Index Used to Adjust Interest Rate
on ARM

Properties with adjustable
rate first mortgage
1236 95 20 33 39 120 928
Treasury security 341 14 0 0 0 37 290
Average cost of funds in bank district 31 3 0 0 0 0 27
National average cost of funds 26 0 0 0 0 0 26
OTS contract mortgage rate 12 0 0 0 0 0 12
Other method 82 0 0 0 11 2 69
No index used 46 0 0 0 0 3 43
Not reported 698 78 20 33 28 77 461
Other properties 7806 720 180 124 143 877 5762
Not reported 0 0 0 0 0 0 0

Frequency With Which Rate Can Be
Adjusted

Properties with adjustable
rate first mortgage
1236 95 20 33 39 120 928
Monthly 25 3 0 0 0 2 20
Every 3 months 6 0 0 0 0 0 6
Every 6 months 32 0 0 0 11 0 21
Yearly 335 14 0 0 0 33 289
Every 3 years 73 0 0 0 0 4 69
Every 5 years 58 0 0 0 0 4 54
Other 12 0 0 0 0 0 12
Not reported 695 78 20 33 28 77 458
Other properties 7806 720 180 124 143 877 5762
Not reported 0 0 0 0 0 0 0

Caps on Interest Rate Per Adjustment
Period

Properties with adjustable
rate first mortgage
1236 95 20 33 39 120 928
Less than 1 percent 7 0 0 0 0 0 7
1 percent 0 0 0 0 0 0 0
1.1 to 1.9 percent 28 0 0 0 11 0 17
2 percent 308 0 0 0 0 21 287
2.1 to 2.9 percent 7 3 0 0 0 0 4
3 percent 47 0 0 0 0 12 35
3.1 to 3.9 percent 14 10 0 0 0 0 4
4.0 percent or more 47 4 0 0 0 0 43
No caps 73 0 0 0 0 9 64
Not reported 705 78 20 33 28 77 467
Other properties 7806 720 180 124 143 877 5762
Not reported 0 0 0 0 0 0 0

Caps on Interest Rate Over Life of ARM

Properties with adjustable
rate first mortgage
1236 95 20 33 39 120 928
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 28 3 0 0 0 0 25
2.1 to 2.9 percent 0 0 0 0 0 0 0
3 percent 0 0 0 0 0 0 0
3.1 to 3.9 percent 0 0 0 0 0 0 0
4.0 percent or more 411 14 0 0 11 34 352
No caps 61 0 0 0 0 5 56
Not reported 736 78 20 33 28 81 496
Other properties 7806 720 180 124 143 877 5762
Not reported 0 0 0 0 0 0 0

Interest Rate Changed Since
Mortgage Made

Properties with adjustable
rate first mortgage
1236 95 20 33 39 120 928
Yes, rate has changed 278 17 0 0 0 18 243
No change since mortgage made 276 0 0 0 11 25 241
Not reported 681 78 20 33 28 77 444
Other properties 7806 720 180 124 143 877 5762
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
44 0 0 0 0 4 40
Payments can change monthly 14 0 0 0 0 4 10
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 24 0 0 0 0 0 24
Payments can change every 3 years 6 0 0 0 0 0 6
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
8301 743 180 124 154 917 6183
Not reported 697 72 20 33 28 76 467

First Mortgage Allows for Negative
Amortization

Monthly payments can change
(other than change in interest
rate)
44 0 0 0 0 4 40
Yes, unrestricted negative amortization 0 0 0 0 0 0 0
Yes, restricted negative amortization 0 0 0 0 0 0 0
No negative amortization allowed 38 0 0 0 0 4 34
Not reported 6 0 0 0 0 0 6
Monthly payments cannot change 8301 743 180 124 154 917 6183
Not reported 697 72 20 33 28 76 467

MORTGAGE PAYMENTS AND OTHER EXPENSES


Method of Payment of First Mortgage

Regular payments of interest
and/or principal
8792 785 196 145 177 973 6515
Interest and principal 8785 785 196 145 177 973 6508
Fully amortized 8019 743 182 118 171 929 5875
Not fully amortized 766 42 14 27 6 44 633
Interest only 7 0 0 0 0 0 7
No regular payments required 0 0 0 0 0 0 0
Not reported 250 30 4 12 5 24 175

Items Included in First Mortgage
Payment@1

Regular monthly payments of
both interest and principal
8785 785 196 145 177 973 6508
Real estate taxes 3314 436 129 17 41 570 2121
Property insurance 2835 412 118 17 36 532 1721
Mortgage insurance 851 323 9 4 7 437 71
Other 1260 210 74 0 22 223 732
No items included or not reported 5370 350 64 129 136 373 4319
No regular payments of interest
and principal
257 30 4 12 5 24 182

Monthly Interest and Principal Payments
on First Mortgage

Monthly payments of interest
and/or principal
8792 785 196 145 177 973 6515
Less than $100 41 0 4 5 0 4 28
$100 to $199 279 46 9 4 3 13 205
$200 to $299 727 66 6 16 13 65 561
$300 to $399 966 82 17 24 20 88 735
$400 to $499 1024 126 35 20 23 135 686
$500 to $599 1128 128 31 9 17 119 824
$600 to $699 926 72 37 3 5 105 704
$700 to $799 741 43 15 23 26 83 551
$800 to $899 693 90 13 7 16 93 475
$900 to $999 480 40 16 0 7 61 357
$1,000 to $1,249 784 45 14 5 18 87 615
$1,250 to $1,499 346 14 0 9 9 55 259
$1,500 or more 656 34 0 20 20 66 516
Median 625 557 590 544 726 660 631
Mean 770 717 606 775 1021 831 766
No regular payments required 0 0 0 0 0 0 0
Not reported 250 30 4 12 5 24 175

Current First Mortgage Payment Status

Regular monthly payments of
principal and/or interest
9042 815 200 157 182 997 6690
Up-to-date, ahead of schedule, or
less than 90 days past due
4999 425 126 54 54 636 3704
Delinquent by 90 days or more 47 5 0 0 0 9 33
Legal proceedings have begun 15 5 0 0 0 0 9
Legal proceedings have not begun 27 0 0 0 0 9 18
Not reported 6 0 0 0 0 0 6
Not reported 3995 385 74 104 128 351 2953
Other properties 0 0 0 0 0 0 0

Monthly Interest and Principal Payments
on Total Mortgages

Regular monthly payments of
interest and/or principal
8821 789 196 145 177 973 6541
Less than $100 45 4 4 5 0 4 28
$100 to $199 238 42 0 4 3 13 177
$200 to $299 676 66 11 16 13 65 505
$300 to $399 863 60 10 24 20 67 682
$400 to $499 981 116 34 15 19 120 678
$500 to $599 1019 124 31 9 17 115 723
$600 to $699 904 72 33 8 5 105 679
$700 to $799 751 52 18 19 26 84 553
$800 to $899 737 92 13 7 19 104 502
$900 to $999 579 56 26 4 7 68 417
$1,000 to $1,249 841 49 11 5 14 93 668
$1,250 to $1,499 406 14 4 9 9 54 317
$1,500 or more 781 41 3 20 23 82 612
Median 665 586 628 601 739 699 670
Mean 812 755 681 784 1050 864 810
No regular monthly payments
required
220 26 4 12 5 24 149

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

Monthly payments of interest
and/or principal
8792 785 196 145 177 973 6515
Less than 5 percent 398 40 20 5 0 33 301
5 to 9 percent 1897 142 25 8 44 177 1502
10 to 14 percent 2483 180 54 53 45 303 1847
15 to 19 percent 1706 189 41 28 45 239 1162
20 to 24 percent 747 77 21 13 9 94 533
25 to 29 percent 377 47 6 3 7 27 288
30 to 34 percent 164 12 3 7 14 26 102
35 to 39 percent 129 17 6 0 0 10 96
40 to 49 percent 135 25 5 5 0 4 96
50 percent or more 190 23 0 0 3 16 148
Not reported or not computed 565 34 15 22 9 45 440
Median 14 15 14 15 14 14 13
No regular payments required 250 30 4 12 5 24 175

Real Estate Tax

Acquired before 2000
7720 636 185 130 156 771 5843
Less than $100 1112 110 50 27 26 116 783
$100 to $199 63 10 0 5 4 17 27
$200 to $299 83 9 11 0 0 4 59
$300 to $399 176 21 0 5 0 23 127
$400 to $499 191 15 6 8 0 7 156
$500 to $599 197 23 0 0 3 18 153
$600 to $699 258 25 13 4 0 15 202
$700 to $799 250 23 11 11 4 5 196
$800 to $899 259 35 0 3 5 15 201
$900 to $999 281 20 4 20 5 48 185
$1,000 to $1,249 674 61 11 14 18 88 481
$1,250 to $1,499 472 34 10 0 12 54 362
$1,500 to $1,999 1046 68 40 5 10 120 803
$2,000 to $2,499 797 55 7 0 16 80 639
$2,500 or more 1759 113 23 21 46 157 1398
Not reported 103 16 0 6 5 5 70
Median 1390 1082 965 859 1442 1380 1468
Mean 1767 1429 1335 999 1644 1742 1841
Acquired 2000 and 2001 (part) 1322 180 16 27 26 226 847

Real Estate Tax as Percent of Income

Acquired before 2000
7720 636 185 130 156 771 5843
Less than 1.0 percent 1516 132 55 36 30 171 1090
1.0 to 1.9 percent 1494 118 35 32 16 151 1143
2.0 to 2.9 percent 1511 105 37 26 39 191 1112
3.0 to 3.9 percent 1050 76 12 7 51 98 806
4.0 to 4.9 percent 552 68 12 5 5 47 415
5.0 to 7.4 percent 630 57 19 3 0 67 484
7.5 to 9.9 percent 185 7 0 5 0 4 169
10.0 percent or more 194 23 0 0 0 6 166
Not reported or computed 589 52 15 15 14 36 457
Median 2.4 2.4 1.8 1.7 2.6 2.2 2.4
Other properties 1322 180 16 27 26 226 847

Real Estate Tax Per $1,000 Value

Acquired before 2000
7720 636 185 130 156 771 5843
Less than $5 1339 116 55 36 30 135 967
$5 to $9 1475 112 19 35 20 116 1173
$10 to $14 2190 181 58 15 26 262 1648
$15 to $19 1370 98 33 27 43 122 1047
$20 to $24 653 66 11 4 23 66 483
$25 to $29 247 12 5 0 9 37 184
$30 to $39 336 34 4 7 0 28 263
$40 to $49 4 0 0 0 0 0 4
$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 106 16 0 6 5 5 73
Median 12 12 12 9 15 13 12
Acquired 2000 and 2001 (part) 1322 180 16 27 26 226 847

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