U.S. Department of Commerce

Residential Finance Survey

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Residential Finance Survey: 2001 - South
Table 2-3d. 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
12735 1629 483 315 312 1604 8392

PROPERTY CHARACTERISTICS


Property Location by Geographic Area

Inside MAs
10376 1428 435 203 243 1400 6666
In central cities 3193 512 163 30 86 410 1991
Not in central cities 7184 916 273 173 157 990 4675
Outside MAs 2359 201 47 111 69 203 1726

Manner of Acquisition

By purchase
12320 1594 459 307 304 1564 8093
Placed one new mortgage 11259 1509 424 268 287 1467 7304
Placed two or more new mortgages 376 25 9 7 7 46 281
Assumed mortgage(s) already on property 381 21 16 32 9 42 260
Assumed mortgage(s) already on property
and placed new mortgage
72 12 0 0 0 0 60
Borrowed using assets other than this
property as collateral
45 0 10 0 0 4 31
Paid all cash-no borrowing 155 23 0 0 0 4 128
Other manner 32 4 0 0 0 0 29
By inheritance or gift 255 13 13 0 4 22 203
By divorce 21 9 0 0 0 4 9
By some other manner 22 0 0 0 0 0 22
Not reported 117 14 11 7 5 14 65

Source of Downpayment@1

Properties purchased
1995 to 2001 (part)
6694 1017 245 106 128 1033 4165
Sale of previous home 1993 146 30 34 35 309 1440
Sale of other real property or other
investments
315 37 0 5 8 51 214
Savings 3374 600 108 24 62 576 2003
Borrowing from a retirement plan 289 62 11 3 3 56 153
Borrowing using assets other than this
property as collateral
174 15 0 10 5 24 119
Proceeds from an insurance policy 28 14 4 0 0 4 6
Payments in a lease-purchase agreement 52 0 0 0 0 4 49
From a state or local government source 110 41 17 4 6 12 31
From a non-profit organization 19 0 0 6 0 0 13
From parents or relatives 665 123 0 14 17 106 406
Other 47 9 0 0 0 6 33
No downpayment required 617 103 89 14 16 64 331
Not reported 131 9 5 4 5 17 91
Other properties 5975 599 234 208 184 567 4183
Not reported 66 14 4 0 0 3 45

Year Property Acquired

1999 to 2001 (part)
3207 548 93 44 70 504 1947
1997 and 1998 2228 252 113 45 37 362 1419
1995 and 1996 1473 239 48 18 21 188 959
1990 to 1994 2579 272 120 85 71 299 1731
1985 to 1989 1430 144 29 65 51 118 1023
1980 to 1984 740 71 44 19 5 57 544
1975 to 1979 569 52 15 24 28 31 420
1970 to 1974 318 35 11 5 15 37 214
1969 or earlier 191 15 9 10 14 8 135

Building and Land Acquisition

Acquired at same time
11291 1538 450 291 269 1464 7279
Not acquired at same time 1231 43 21 23 36 127 981
Land not owned by building owner 104 30 0 0 0 6 68
Not reported 109 18 12 0 8 7 65

Property New or Previously Occupied When
Acquired

Acquired by purchase
12320 1594 459 307 304 1564 8093
New 3761 337 125 98 101 440 2660
Previously occupied by someone else 8490 1247 329 209 200 1120 5385
Converted from non-residential use 8 0 0 0 0 0 8
Other 11 4 0 0 3 0 4
Not reported 50 6 5 0 0 4 35
Other properties 299 22 13 0 4 26 235
Not reported 117 14 11 7 5 14 65

Year Structure Built

1999 to March 2000
769 80 40 6 15 116 513
1997 and 1998 1003 86 37 19 13 158 689
1995 and 1996 828 80 23 8 10 153 553
1990 to 1994 1492 136 73 55 40 199 990
1980 to 1989 2858 369 105 89 64 340 1892
1970 to 1979 2370 379 84 100 69 224 1514
1960 to 1969 1309 168 54 14 52 147 873
1950 to 1959 1044 163 41 4 19 146 673
1940 to 1949 396 71 7 9 0 10 300
1939 or earlier 665 98 19 9 29 112 396

Purchase Price

Properties acquired by
purchase 1997 to 2001 (part)
5284 790 197 88 107 845 3256
Less than $20,000 127 10 0 0 4 4 109
$20,000 to $39,999 292 25 0 4 12 28 222
$40,000 to $59,999 492 145 22 11 23 39 251
$60,000 to $79,999 760 214 34 17 10 105 380
$80,000 to $99,999 808 170 33 14 16 119 456
$100,000 to $124,999 692 111 31 4 14 104 429
$125,000 to $149,999 670 64 43 15 17 144 388
$150,000 to $174,999 451 20 16 9 4 114 289
$175,000 to $199,999 224 15 10 6 0 47 145
$200,000 to $249,999 301 12 7 3 4 56 219
$250,000 to $299,999 210 0 0 5 0 39 167
$300,000 to $499,999 202 4 0 0 5 33 160
$500,000 or more 53 0 0 0 0 13 40
Median 105880 80028 106849 96597 86071 129119 112218
Mean 128398 87780 110125 112081 97558 145712 136326
Other properties 7452 839 286 226 205 759 5136

Value

Less than $20,000
130 21 6 10 0 4 90
$20,000 to $39,999 430 49 0 18 12 27 323
$40,000 to $59,999 1190 203 50 82 64 75 717
$60,000 to $79,999 1730 327 88 71 49 165 1030
$80,000 to $99,999 1892 372 78 46 61 280 1055
$100,000 to $124,999 1587 285 70 16 15 217 983
$125,000 to $149,999 1626 186 72 15 36 232 1085
$150,000 to $174,999 1161 86 42 8 29 150 845
$175,000 to $199,999 707 57 31 11 4 118 487
$200,000 to $249,999 769 40 30 12 16 137 535
$250,000 to $299,999 560 0 12 14 13 86 435
$300,000 to $499,999 698 0 5 8 9 90 586
$500,000 or more 257 4 0 3 5 24 221
Median 115692 91558 107155 73350 90245 128635 124960
Mean 142977 97078 116592 107317 117828 152672 153827

Purchase Price as Percent of Value@8

Acquired by purchase
12320 1594 459 307 304 1564 8093
Purchased 1997 to 2001 (part) 5284 790 197 88 107 845 3256
Less than 60 percent 349 20 0 13 5 51 260
60 to 69 percent 322 46 8 5 4 52 207
70 to 79 percent 511 79 25 9 11 69 318
80 to 99 percent 3006 468 115 43 48 495 1836
100 percent or more 1097 177 49 18 40 177 635
Median 90 91 91 88 94 90 89
Purchased 1990 to 1996 (part) 3893 494 164 96 87 476 2575
Less than 40 percent 171 0 3 6 4 9 149
40 to 59 percent 417 31 14 6 7 43 316
60 to 79 percent 1449 193 62 34 16 194 951
80 to 99 percent 1303 202 61 32 40 198 769
100 percent or more 544 59 24 19 19 32 390
Median 79 82 81 82 88 79 77
Purchased 1989 or earlier 3143 310 97 123 109 242 2261
Less than 20 percent 284 16 5 10 21 24 208
20 to 39 percent 557 32 15 8 42 42 418
40 to 59 percent 822 108 39 23 13 60 579
60 to 79 percent 777 98 28 47 9 65 530
80 to 99 percent 324 35 0 22 22 31 213
100 percent or more 375 21 10 13 3 19 309
Median 58 60 55 69 36 58 57
Not acquired by purchase 415 35 24 7 9 40 300

Value-Income Ratio

Less than 1.0
1104 149 44 29 13 112 757
1.0 to 1.4 2145 358 102 55 36 284 1310
1.5 to 1.9 2338 333 92 59 59 360 1436
2.0 to 2.4 1973 249 107 49 61 273 1235
2.5 to 2.9 1322 173 40 26 29 177 876
3.0 to 3.4 767 95 25 8 11 102 525
3.5 to 3.9 431 54 24 4 9 49 292
4.0 or more 1488 79 29 58 48 135 1138
Not reported or not computed 1168 140 20 25 47 112 824
Median 2.0 1.9 2.0 2.0 2.2 2.0 2.1

Value of Capital Improvements

Properties with capital
improvements between 1998
and 2000
6576 912 297 161 123 804 4279
Less than $500 116 15 0 4 11 25 62
$500 to $999 225 43 0 0 9 34 139
$1,000 to $2,499 1257 215 67 45 22 241 666
$2,500 to $4,999 1162 179 98 29 28 116 711
$5,000 to $7,499 1349 233 65 28 16 122 886
$7,500 to $9,999 336 41 3 6 0 48 239
$10,000 to $14,999 773 65 22 21 14 86 565
$15,000 to $19,999 373 52 15 13 4 63 227
$20,000 to $29,999 521 62 19 10 13 27 390
$30,000 or more 465 8 7 5 6 43 396
Median 5980 5044 4568 5184 4229 4700 6587
Mean 10784 6377 7352 7573 7902 8800 12538
Properties with no capital
improvements between 1998 and 2000
4868 534 168 120 150 649 3247
Capital improvements not
reported
1292 183 17 34 39 151 867

Age Restrictions

Property located in subdivision
restricted to people age 55 or older
1052 157 59 18 32 158 628
Property located in subdivision not
restricted to people age 55 or older
11182 1411 401 284 266 1403 7417
Not reported 501 61 22 13 15 43 347

Neighborhood Composition

Property located in subdivision or
neighborhood occupied predominantly by
people age 55 or older
1087 131 59 24 15 111 746
Property located in subdivision or
neighborhood not occupied predominantly
by people age 55 or older
8005 972 292 213 185 983 5359
Don't know or not reported 3644 526 132 78 112 510 2287

Type of Property Benefits@1

Government-sponsored below-market
interest rate mortgage loan
199 48 12 17 4 18 101
Other government grant or subsidy 47 17 0 19 0 0 11
Property tax relief 768 63 35 12 3 68 587
Subsidy from a non-profit corporation 32 6 0 5 0 4 17
None of the above benefits 9212 1098 339 170 233 1235 6137
Not reported 2506 410 100 93 72 280 1550

Source of Property Benefits@1

With property benefits
1017 121 43 52 7 89 705
Federal government 192 42 4 40 4 8 95
State government 366 29 30 8 3 29 267
Local government 385 35 13 8 0 39 289
Non-profit corporation 32 6 0 5 0 4 17
Not reported 90 13 0 0 0 10 68
With no property benefits 9212 1098 339 170 233 1235 6137
Not reported 2506 410 100 93 72 280 1550

Reason for Benefits@1

With property benefits
1017 121 43 52 7 89 705
Occupied by low- or moderate-income
individuals
162 22 0 25 0 12 104
Occupied by elderly or disabled
individuals
109 9 0 4 0 12 84
A historic structure 12 6 0 0 0 0 6
Located in a community development or
economic development area
38 18 0 6 0 3 11
Covered by a Homestead Exemption 681 71 34 21 7 60 487
Covered by a Community Land Trust 0 0 0 0 0 0 0
Covered by disaster relief 11 0 0 5 0 0 6
Other reason 58 9 9 6 0 0 35
Not reported 44 12 0 0 0 6 27
With no property benefits 9212 1098 339 170 233 1235 6137
Not reported 2506 410 100 93 72 280 1550

OWNER CHARACTERISTICS


Owner Status

1 owner
4258 630 133 146 91 512 2746
2 owners 8350 978 346 159 216 1076 5575
3 or more owners 127 21 4 9 5 16 71

Age of Owner

Under 25
150 41 6 0 13 17 73
25 to 34 1859 424 68 42 42 331 952
35 to 44 3499 460 138 98 52 458 2294
45 to 54 3505 399 117 92 84 415 2398
55 to 64 2005 162 93 28 57 185 1480
65 to 74 849 55 28 21 11 88 646
75 and over 266 19 13 8 14 34 179
Not reported 602 69 19 26 41 76 371
Median 47 42 47 45 48 44 48

Race of Owner

White alone
10535 1243 364 241 261 1292 7134
Black or African American alone 1776 344 104 65 48 222 994
American Indian or Alaska Native alone 52 8 6 0 0 11 27
Asian alone 270 20 4 9 0 60 178
Native Hawaiian or Other Pacific
Islander alone
8 0 0 0 0 0 8
Two or more races 94 14 5 0 3 20 51

Sex of Owner

Male/Male and female co-owners
10311 1242 424 217 240 1338 6849
Female 2424 387 58 98 73 266 1543

Hispanic/Latino Origin

Hispanic/Latino owner(s) only
980 188 34 17 23 141 576
No Hispanic/Latino owner(s) 11756 1441 448 297 290 1462 7816

Veteran Status@1

Veteran
2882 189 318 56 54 300 1966
Active member of Reserves or National
Guard for at least 6 years
547 35 51 28 7 52 374
Persian Gulf War or after
(August 1990 to present)
458 33 129 5 7 29 254
Vietnam or after
(August 1964 to July 1990)
1575 94 212 28 27 162 1052
Korean conflict or after
(July 1950 to July 1964)
597 35 29 5 21 60 447
World War II or after
(September 1940 to June 1950)
228 13 13 0 10 26 166
Nonveteran 9070 1358 120 240 228 1210 5913
Not reported 783 83 44 18 31 94 513

Income

Less than $5,000
1238 151 20 29 50 125 863
$5,000 to $9,999 165 11 10 18 6 15 106
$10,000 to $14,999 283 21 19 8 13 9 213
$15,000 to $19,999 334 42 10 17 7 31 227
$20,000 to $24,999 364 32 8 13 17 33 260
$25,000 to $29,999 683 112 13 44 30 64 419
$30,000 to $34,999 677 97 15 27 4 63 471
$35,000 to $39,999 549 78 42 5 37 75 312
$40,000 to $49,999 1327 286 78 47 25 154 737
$50,000 to $59,999 1327 213 38 29 30 161 857
$60,000 to $79,999 2128 334 79 33 40 339 1302
$80,000 to $99,999 1428 126 88 17 36 207 954
$100,000 to $119,999 784 56 49 9 3 96 570
$120,000 or more 1448 69 13 18 15 232 1101
Median 55629 49442 56962 35589 38924 64217 56865
Mean 67576 52906 63466 47649 46484 79107 69989

Owned Home Previously

Previously owned home
7170 598 250 142 151 929 5101
Never owned home before 5041 959 218 160 141 609 2953
Not reported 524 72 15 13 20 66 338

MORTGAGE CHARACTERISTICS


Number of Mortgages

1 mortgage
9866 1352 375 272 257 1294 6316
2 mortgages 2601 239 98 34 56 276 1900
3 or more mortgages 267 38 10 9 0 34 176

Form of Debt of First Mortgage

Mortgage or deed of trust
12735 1629 483 315 312 1604 8392
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
84 4 3 0 0 24 52
By telephone or FAX 1094 117 33 5 40 152 747
By regular mail 270 33 8 7 14 24 184
By personal visit 7697 985 200 218 169 953 5173
Through third party (such as real
estate agent or builder)
2382 379 197 49 62 322 1372
Some other way 22 0 0 0 0 0 22
Not reported 994 82 25 9 27 114 736
Not available 192 29 16 27 0 15 105

Origin of First Mortgage

Mortgage made at time property acquired
9532 1338 380 259 221 1318 6017
Mortgage assumed at the time property
acquired
332 37 16 32 0 29 218
Mortgage placed later than acquisition of
property
2871 255 87 24 91 258 2157
Refinanced mortgage 2513 235 87 24 64 251 1851
Same lender 703 61 34 15 22 62 510
Different lender 1810 174 53 10 43 189 1341
Mortgage placed on property
owned free and clear of debt
358 19 0 0 27 7 306
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
2871 255 87 24 91 258 2157
Obtain lower interest rate 1737 183 69 9 37 178 1262
Increase payment period for mortgage 16 0 0 6 0 4 6
Reduce payment period for mortgage 89 0 0 0 0 0 89
Renew or extend loan that had fallen
due, without increasing outstanding
balance
73 9 0 0 5 5 54
Receive cash or increase outstanding
balance of loan
795 39 9 10 45 63 630
Other reason 78 18 6 0 0 0 54
Not reported 84 6 4 0 4 7 63
Other properties 9864 1375 396 290 221 1346 6236
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
1149 81 11 6 41 105 906
Less than $20,000 495 59 11 0 28 64 333
$20,000 to $39,999 345 16 0 6 7 16 300
$40,000 to $59,999 146 6 0 0 5 13 121
$60,000 to $79,999 52 0 0 0 0 0 52
$80,000 to $99,999 53 0 0 0 0 7 46
$100,000 to $124,999 24 0 0 0 0 0 24
$125,000 to $149,999 12 0 0 0 0 0 12
$150,000 to $174,999 7 0 0 0 0 0 7
$175,000 to $199,999 4 0 0 0 0 0 4
$200,000 to $249,999 7 0 0 0 0 4 3
$250,000 to $299,999 4 0 0 0 0 0 4
$300,000 or more 0 0 0 0 0 0 0
Median 24591 13792 10000 30000 14388 16276 28008
Mean 31981 13692 6269 24250 20051 29336 34821
Properties that refinanced
and did not receive cash back
1485 159 70 9 39 127 1081
Properties that refinanced
and did not report if received
cash back
238 15 6 10 12 26 170
Properties that did not
refinance
9864 1375 396 290 221 1346 6236
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
1149 81 11 6 41 105 906
For additions, improvements or repairs
to this property
464 18 11 0 17 43 375
To consolidate debts 602 41 7 0 16 43 495
For investment in other real estate 70 0 0 0 0 9 61
For other types of investments 80 0 0 6 0 10 65
For educational or medical expenses 119 13 0 0 0 29 77
To start a business 19 0 0 0 0 0 19
To settle a divorce 25 0 0 0 0 0 25
To pay taxes 19 0 0 0 0 0 19
To purchase an automobile, truck, or
other vehicle
92 4 0 0 0 7 81
To purchase consumer product other than
automobile, truck, or other vehicle
34 14 0 0 0 5 15
Other 35 0 0 0 12 0 23
Not reported 10 0 0 0 0 0 10
Properties that refinanced
and did not receive cash back
1485 159 70 9 39 127 1081
Properties that refinanced
and did not report if received
cash back
238 15 6 10 12 26 170
Properties that did not
refinance
9864 1375 396 290 221 1346 6236
Not available 0 0 0 0 0 0 0

Purpose of Second Mortgage

Properties with second
mortgage
1311 143 65 20 26 144 914
Provide funds for the purchase of this
property
208 21 14 3 8 18 145
Provide funds for additions,
improvements or repairs to this
property
322 38 10 0 7 41 226
Provide funds for consolidation of debts 349 33 29 8 7 47 225
Provide funds for investment in other
real estate
17 0 0 0 0 5 12
Provide funds for other types of
investments
32 0 0 0 0 0 32
Provide funds for educational or
medical expenses
23 6 0 0 0 4 13
Provide funds for starting a business 19 5 0 0 0 0 14
Provide funds to settle a divorce 6 0 0 0 0 0 6
Provide funds to pay taxes 18 5 0 0 0 0 12
Provide funds to purchase automobile,
truck, or vehicle
31 0 0 0 0 0 31
Provide funds to purchase another type
of consumer product
12 0 4 0 4 0 4
Other reasons 15 0 0 5 0 0 10
Not reported 260 35 8 4 0 30 183
Other properties 11424 1486 418 294 287 1460 7479

Purpose of Home Equity Line of Credit

Properties with home equity
line of credit
1815 172 53 31 30 200 1329
Provide funds for additions,
improvements or repairs to this
property
553 41 20 4 13 56 418
Provide funds for consolidation of debts 417 72 11 9 3 38 284
Provide funds for investment in other
real estate
33 4 0 0 0 0 29
Provide funds for other types of
investments
44 5 0 0 0 4 35
Provide funds for educational or
medical expenses
59 0 4 0 0 17 37
Provide funds for starting a business 27 0 3 0 0 3 21
Provide funds to settle a divorce 3 0 0 0 0 0 3
Provide funds to pay taxes 15 0 0 0 3 3 8
Provide funds to purchase automobile,
truck, or vehicle
124 9 0 4 0 14 97
Provide funds to purchase another type
of consumer product
18 0 0 0 0 7 11
Other reasons 59 5 0 0 4 10 39
Not reported 464 37 15 14 6 46 346
Other properties 10920 1457 429 284 282 1404 7063

Year First Mortgage Made or
Assumed

1999 to 2001 (part)
4784 656 138 69 107 702 3112
1997 and 1998 2967 331 135 64 72 397 1968
1995 and 1996 1423 224 51 29 26 144 948
1990 to 1994 2255 306 101 75 64 226 1482
1985 to 1989 680 55 15 39 20 77 474
1980 to 1984 248 18 20 19 9 23 160
1979 or earlier 378 40 22 19 15 34 248

Traditional First Mortgage Loan

Less than $20,000
570 52 8 31 36 29 414
$20,000 to $29,999 659 58 34 26 21 61 459
$30,000 to $39,999 876 115 19 59 35 50 597
$40,000 to $49,999 1074 186 39 53 38 97 661
$50,000 to $59,999 1207 199 32 34 17 151 774
$60,000 to $79,999 2312 388 105 37 43 236 1503
$80,000 to $99,999 1722 326 57 17 22 214 1086
$100,000 to $149,999 2579 247 127 33 61 468 1643
$150,000 to $199,999 861 40 45 16 12 141 607
$200,000 to $249,999 416 3 12 8 3 77 311
$250,000 to $299,999 128 0 0 0 0 49 80
$300,000 or more 207 0 4 0 5 26 173
Not reported 124 16 0 0 18 4 86
Median 76608 70170 81370 47791 59313 96381 76617
Mean 91924 73389 100014 64825 72990 110838 93108

Total Mortgage Loan

Less than $20,000
524 52 4 26 32 29 380
$20,000 to $29,999 634 52 38 31 21 58 435
$30,000 to $39,999 856 107 19 55 35 46 592
$40,000 to $49,999 957 176 30 53 35 78 586
$50,000 to $59,999 1107 184 27 37 24 143 691
$60,000 to $79,999 2311 383 107 37 43 239 1503
$80,000 to $99,999 1747 338 54 13 18 227 1097
$100,000 to $149,999 2626 261 137 31 61 456 1682
$150,000 to $199,999 1004 48 45 22 16 169 702
$200,000 to $249,999 418 3 15 3 3 71 322
$250,000 to $299,999 182 5 3 5 0 52 116
$300,000 or more 248 3 4 0 5 36 200
Not reported 121 16 0 0 18 0 86
Median 79288 72258 86271 48475 59512 98427 79550
Mean 96052 76235 104134 67479 75744 114853 97603

Traditional First Mortgage Outstanding
Debt

Less than $10,000
480 37 24 19 17 32 350
$10,000 to $19,999 642 43 12 58 28 26 474
$20,000 to $29,999 891 124 32 23 34 89 589
$30,000 to $39,999 1078 168 27 67 33 83 699
$40,000 to $49,999 1137 120 43 42 32 132 768
$50,000 to $59,999 1110 219 40 8 16 85 741
$60,000 to $79,999 2149 375 78 29 38 297 1331
$80,000 to $99,999 1578 271 52 17 18 201 1020
$100,000 to $149,999 2229 224 121 38 62 392 1392
$150,000 to $199,999 739 32 48 10 11 131 508
$200,000 to $249,999 297 0 5 3 0 75 214
$250,000 to $299,999 116 0 0 0 0 41 75
$300,000 or more 169 0 0 0 5 19 145
Not reported 121 16 0 0 18 0 86
Median 69029 65049 76184 38648 52032 85599 67987
Mean 83247 67960 83655 54139 66575 103587 83958

Total Mortgage Outstanding Debt

Less than $10,000
407 31 17 19 13 29 298
$10,000 to $19,999 621 43 16 54 28 30 449
$20,000 to $29,999 872 126 36 27 30 85 567
$30,000 to $39,999 980 133 21 63 33 67 664
$40,000 to $49,999 1056 128 37 38 36 110 706
$50,000 to $59,999 1045 212 38 16 16 81 682
$60,000 to $79,999 2167 365 77 29 38 297 1360
$80,000 to $99,999 1622 299 54 13 18 215 1023
$100,000 to $149,999 2349 236 129 36 66 387 1496
$150,000 to $199,999 818 29 45 11 11 164 558
$200,000 to $249,999 332 3 8 8 0 71 240
$250,000 to $299,999 145 5 3 0 0 34 103
$300,000 or more 204 3 0 0 5 33 163
Not reported 117 16 0 0 18 0 83
Median 72263 67318 79621 39144 54532 89585 71586
Mean 86334 69958 87575 56169 65241 107585 87298

Current Interest Rate on First Mortgage

Less than 6.0 percent
3538 75 11 103 148 370 2832
6.0 percent 175 14 6 0 0 10 145
6.1 to 6.4 percent 262 37 17 3 4 23 178
6.5 to 6.9 percent 1107 97 72 5 4 211 718
7.0 percent 1212 156 77 27 32 172 747
7.1 to 7.4 percent 781 87 23 0 7 190 474
7.5 to 7.9 percent 1146 281 66 16 8 184 591
8.0 percent 577 199 56 11 3 45 262
8.1 to 8.4 percent 342 43 9 21 3 97 168
8.5 to 8.9 percent 485 157 33 15 4 68 208
9.0 percent 178 32 6 15 0 29 97
9.1 to 9.4 percent 132 38 16 4 4 11 60
9.5 to 9.9 percent 317 62 19 24 9 28 173
10.0 percent 128 18 7 11 5 11 75
10.1 to 10.4 percent 81 33 5 0 0 21 21
10.5 to 10.9 percent 150 65 10 15 5 5 50
11.0 percent 165 13 6 3 4 15 125
11.1 to 12.9 percent 209 98 21 4 5 0 82
13.0 percent 37 0 0 0 0 5 32
13.1 percent or more 1711 124 21 37 67 107 1355
Not reported 0 0 0 0 0 0 0
Median 7.1 8.0 7.8 8.0 7.0 7.1 7.0

Type of Interest Rate Buydown

Properties with interest rate
buydown
441 66 17 0 4 33 321
Constant payment 7 0 0 0 0 4 4
3-2-1 buydown 5 0 0 0 0 5 0
Other 4 4 0 0 0 0 0
Not reported 425 62 17 0 4 25 317
Properties without interest
rate buydown
5423 856 276 155 57 857 3222
Not reported 6871 707 190 160 251 713 4850

Term of First Mortgage

Less than 5 years
73 0 0 0 0 0 73
5 years 122 0 0 0 0 0 122
6 to 9 years 61 0 0 0 0 0 61
10 years 199 4 0 4 14 14 164
11 to 14 years 28 0 0 0 0 0 28
15 years 1236 92 27 0 11 68 1038
16 to 19 years 17 0 0 6 0 0 11
20 years 357 22 0 6 10 51 267
21 to 24 years 6 0 0 6 0 0 0
25 years 58 5 4 5 0 7 37
26 to 29 years 40 0 0 0 0 4 36
30 years 4925 1507 452 34 33 916 1983
More than 30 years 118 0 0 95 0 0 23
No stated term 5495 0 0 160 243 543 4549
Median 30 30 30 44 21 30 30

Unexpired Term of First Mortgage

Less than 5 years
355 34 8 0 0 8 306
5 to 9 years 622 57 35 18 22 8 482
10 to 14 years 942 48 33 24 4 66 768
15 to 19 years 588 132 17 13 5 89 332
20 to 24 years 1038 317 114 65 20 130 394
25 to 29 years 3078 837 249 20 18 615 1338
30 or more years 617 206 28 16 0 145 222
No stated term or not computed 5495 0 0 160 243 543 4549
Median 25 26 26 22 21 27 20

Holder of First Mortgage

Commercial bank or trust company
2022 161 25 21 72 139 1605
Savings and loan association, federal
savings bank
1042 75 17 11 35 105 799
Mutual savings bank 143 38 4 3 4 8 86
Life insurance company 228 24 11 7 5 17 163
Mortgage banker or mortgage company 947 178 47 5 3 259 455
Federally-sponsored secondary market
agency or pool
6284 973 358 94 107 889 3865
Conventional mortgage pool 152 31 0 0 0 21 100
Other federal agency 414 30 11 140 4 34 196
Real estate investment trust 11 0 0 4 0 0 8
Pension or retirement fund 8 0 0 0 0 0 8
Credit union 387 15 4 0 13 55 301
Finance company 279 8 0 5 9 11 247
State or municipal government or
housing finance agency
418 73 8 21 47 43 227
Individual or individual's estate 253 15 0 4 8 18 208
Other 145 9 0 0 6 5 125

Servicer of First Mortgage

Commercial bank or trust company
2632 241 57 25 71 230 2008
Savings and loan association, federal
savings bank
1171 107 32 11 30 133 858
Mutual savings bank 130 21 4 3 4 8 90
Life insurance company 209 19 6 7 5 13 158
Mortgage banker or mortgage company 6683 1117 365 104 131 1049 3917
Federally-sponsored secondary market
agency or pool
23 0 4 0 0 10 10
Conventional mortgage pool 0 0 0 0 0 0 0
Other federal agency 372 17 0 134 4 29 188
Real estate investment trust 0 0 0 0 0 0 0
Pension or retirement fund 5 0 0 0 0 0 5
Credit union 448 15 13 0 12 58 350
Finance company 289 8 0 5 9 13 254
State or municipal government or
housing finance agency
387 60 4 21 38 37 227
Individual or individual's estate 255 15 0 4 8 18 209
Other 133 9 0 0 0 5 119

Holder's Acquisition of First Mortgage

Originated directly from borrower
5410 458 95 90 154 587 4027
Purchased from present servicer 3529 560 196 170 88 478 2038
Purchased from someone else 3796 612 192 55 71 539 2327
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
9553 1352 375 283 216 1309 6018
Less than 40 percent 302 24 4 16 0 47 211
40 to 49 percent 194 4 14 9 7 12 148
50 to 59 percent 264 0 0 8 7 33 216
60 to 69 percent 973 56 9 13 20 87 787
70 to 79 percent 880 52 8 21 18 74 707
80 to 89 percent 1334 92 37 28 21 183 973
90 to 94 percent 961 97 8 20 29 270 536
95 to 99 percent 1248 383 21 34 21 289 500
100 percent or more 3272 627 276 132 83 313 1840
Not reported 125 16 0 0 9 0 100
Median 94 99 32103 99 95 94 89
Other properties 3182 278 107 32 96 295 2375
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
9553 1352 375 283 216 1309 6018
Less than 40 percent 335 19 4 16 7 53 236
40 to 49 percent 179 4 6 4 3 11 151
50 to 59 percent 317 0 4 14 3 14 282
60 to 69 percent 1761 237 88 24 35 202 1175
70 to 79 percent 1184 67 14 17 22 91 972
80 to 89 percent 1324 85 20 31 19 269 900
90 to 94 percent 859 114 12 8 29 261 434
95 to 99 percent 1214 434 27 36 24 229 464
100 percent or more 2254 377 200 132 65 177 1303
Not reported 125 16 0 0 9 0 100
Median 87 97 722 99 93 90 82
Other properties 3182 278 107 32 96 295 2375
Not available 0 0 0 0 0 0 0

First Mortgage Risk

Subprime loan
559 41 4 4 23 27 461
Not subprime loan 12176 1588 479 311 289 1577 7932
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
9553 1352 375 283 216 1309 6018
Less than 40 percent 295 24 4 16 0 47 204
40 to 49 percent 173 4 10 5 7 9 139
50 to 59 percent 233 0 0 4 4 29 196
60 to 69 percent 897 47 9 13 24 70 733
70 to 79 percent 785 50 15 18 18 71 612
80 to 89 percent 1183 90 32 22 17 154 868
90 to 94 percent 959 93 8 30 29 261 539
95 to 99 percent 1207 329 22 35 17 271 534
100 percent or more 3695 699 276 141 91 396 2093
Not reported 125 16 0 0 9 0 100
Median 96 4544 32040 100 96 95 92
Other properties 3182 278 107 32 96 295 2375
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
9553 1352 375 283 216 1309 6018
Less than 40 percent 872 44 33 38 20 94 642
40 to 49 percent 532 31 15 18 19 39 409
50 to 59 percent 896 75 15 31 8 104 663
60 to 69 percent 1511 170 42 36 20 193 1050
70 to 79 percent 1597 212 31 35 37 198 1083
80 to 89 percent 1647 240 63 49 38 333 925
90 to 94 percent 701 153 36 19 22 101 369
95 to 99 percent 644 180 48 6 21 132 259
100 percent or more 1028 231 91 51 21 114 520
Not reported 125 16 0 0 9 0 100
Median 76 86 88 75 80 81 72
Other properties 3182 278 107 32 96 295 2375
Not available 0 0 0 0 0 0 0

Total Outstanding Debt as a Percent
of Value

Less than 20 percent
754 47 27 31 36 70 543
20 to 29 percent 542 24 23 38 9 41 408
30 to 39 percent 771 42 6 10 19 48 646
40 to 49 percent 1070 96 28 24 17 109 796
50 to 59 percent 1785 156 38 44 38 167 1343
60 to 69 percent 1957 235 47 33 44 240 1357
70 to 79 percent 1985 268 63 67 36 272 1280
80 to 89 percent 1614 258 87 24 50 323 872
90 to 99 percent 1471 381 101 23 33 269 664
100 percent or more 608 98 61 13 13 66 358
Not reported or not computed 178 25 0 8 18 0 126
Median 67 78 81 62 66 75 63

Index Used to Adjust Interest Rate
on ARM

Properties with adjustable
rate first mortgage
1620 146 13 14 60 147 1240
Treasury security 427 42 0 0 0 44 342
Average cost of funds in bank district 46 0 0 0 0 5 41
National average cost of funds 31 0 0 0 0 6 26
OTS contract mortgage rate 6 0 0 0 0 0 6
Other method 79 0 0 0 4 4 72
No index used 34 6 0 0 0 0 29
Not reported 997 99 13 14 57 89 725
Other properties 11115 1483 470 301 252 1457 7153
Not reported 0 0 0 0 0 0 0

Frequency With Which Rate Can Be
Adjusted

Properties with adjustable
rate first mortgage
1620 146 13 14 60 147 1240
Monthly 77 0 0 0 0 4 73
Every 3 months 4 0 0 0 0 0 4
Every 6 months 43 0 0 0 4 0 39
Yearly 423 45 0 0 0 46 333
Every 3 years 36 0 0 0 0 4 32
Every 5 years 22 0 0 0 0 0 22
Other 38 0 0 0 0 5 33
Not reported 977 101 13 14 57 89 703
Other properties 11115 1483 470 301 252 1457 7153
Not reported 0 0 0 0 0 0 0

Caps on Interest Rate Per Adjustment
Period

Properties with adjustable
rate first mortgage
1620 146 13 14 60 147 1240
Less than 1 percent 13 0 0 0 4 0 9
1 percent 3 0 0 0 0 0 3
1.1 to 1.9 percent 23 0 0 0 0 6 18
2 percent 317 0 0 0 0 38 279
2.1 to 2.9 percent 30 9 0 0 0 6 16
3 percent 24 14 0 0 0 0 11
3.1 to 3.9 percent 13 0 0 0 0 0 13
4.0 percent or more 116 19 0 0 0 8 89
No caps 94 4 0 0 0 0 91
Not reported 986 101 13 14 57 89 712
Other properties 11115 1483 470 301 252 1457 7153
Not reported 0 0 0 0 0 0 0

Caps on Interest Rate Over Life of ARM

Properties with adjustable
rate first mortgage
1620 146 13 14 60 147 1240
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 18 0 0 0 0 4 14
2.1 to 2.9 percent 0 0 0 0 0 0 0
3 percent 7 0 0 0 0 0 7
3.1 to 3.9 percent 8 0 0 0 0 0 8
4.0 percent or more 504 41 0 0 4 44 415
No caps 88 4 0 0 0 4 81
Not reported 995 101 13 14 57 95 715
Other properties 11115 1483 470 301 252 1457 7153
Not reported 0 0 0 0 0 0 0

Interest Rate Changed Since
Mortgage Made

Properties with adjustable
rate first mortgage
1620 146 13 14 60 147 1240
Yes, rate has changed 385 42 0 0 0 36 308
No change since mortgage made 259 3 0 0 4 22 230
Not reported 976 101 13 14 57 89 702
Other properties 11115 1483 470 301 252 1457 7153
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
21 4 0 0 0 0 17
Payments can change monthly 5 0 0 0 0 0 5
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 12 0 0 0 0 0 12
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 4 4 0 0 0 0 0
Monthly payments cannot
change
11740 1529 470 301 256 1519 7667
Not reported 974 97 13 14 57 85 708

First Mortgage Allows for Negative
Amortization

Monthly payments can change
(other than change in interest
rate)
21 4 0 0 0 0 17
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 17 0 0 0 0 0 17
Not reported 4 4 0 0 0 0 0
Monthly payments cannot change 11740 1529 470 301 256 1519 7667
Not reported 974 97 13 14 57 85 708

MORTGAGE PAYMENTS AND OTHER EXPENSES


Method of Payment of First Mortgage

Regular payments of interest
and/or principal
12344 1602 479 315 284 1577 8088
Interest and principal 12320 1602 479 315 284 1577 8063
Fully amortized 11394 1501 457 203 261 1479 7492
Not fully amortized 926 101 21 112 23 97 571
Interest only 24 0 0 0 0 0 24
No regular payments required 35 0 0 0 0 5 30
Not reported 356 28 4 0 28 22 275

Items Included in First Mortgage
Payment@1

Regular monthly payments of
both interest and principal
12320 1602 479 315 284 1577 8063
Real estate taxes 4695 1047 373 52 51 945 2226
Property insurance 4571 1065 379 54 46 876 2151
Mortgage insurance 1640 713 23 4 17 701 183
Other 1816 432 240 17 28 320 780
No items included or not reported 7410 523 85 256 224 606 5716
No regular payments of interest
and principal
416 28 4 0 28 27 329

Monthly Interest and Principal Payments
on First Mortgage

Monthly payments of interest
and/or principal
12344 1602 479 315 284 1577 8088
Less than $100 81 15 4 13 0 3 45
$100 to $199 289 36 12 37 25 17 161
$200 to $299 694 84 27 31 36 43 473
$300 to $399 1300 244 50 74 36 143 754
$400 to $499 1493 270 48 37 33 169 937
$500 to $599 1588 307 99 22 33 178 948
$600 to $699 1415 247 44 19 32 182 891
$700 to $799 1113 128 46 17 19 168 736
$800 to $899 819 86 35 15 4 116 563
$900 to $999 790 43 34 13 11 125 563
$1,000 to $1,249 1253 88 51 9 20 215 871
$1,250 to $1,499 587 36 29 22 19 55 425
$1,500 or more 922 18 0 5 17 161 721
Median 651 550 599 406 538 731 682
Mean 793 615 673 529 664 886 832
No regular payments required 35 0 0 0 0 5 30
Not reported 356 28 4 0 28 22 275

Current First Mortgage Payment Status

Regular monthly payments of
principal and/or interest
12700 1629 483 315 312 1599 8363
Up-to-date, ahead of schedule, or
less than 90 days past due
6211 1007 381 128 75 998 3623
Delinquent by 90 days or more 238 54 13 27 0 19 125
Legal proceedings have begun 78 10 0 11 0 10 48
Legal proceedings have not begun 126 44 13 16 0 5 47
Not reported 34 0 0 0 0 4 30
Not reported 6252 569 89 160 238 582 4614
Other properties 35 0 0 0 0 5 30

Monthly Interest and Principal Payments
on Total Mortgages

Regular monthly payments of
interest and/or principal
12361 1602 479 315 284 1581 8100
Less than $100 81 15 4 13 0 3 45
$100 to $199 278 36 12 37 25 17 150
$200 to $299 662 84 27 31 32 43 445
$300 to $399 1203 221 41 66 32 121 722
$400 to $499 1332 246 31 37 29 160 829
$500 to $599 1477 292 94 26 40 165 860
$600 to $699 1376 244 42 19 32 164 875
$700 to $799 1126 135 45 20 19 172 734
$800 to $899 882 93 47 11 4 133 594
$900 to $999 766 65 43 7 11 113 526
$1,000 to $1,249 1429 106 54 13 20 232 1003
$1,250 to $1,499 673 43 33 24 16 72 486
$1,500 or more 1076 22 7 10 24 182 832
Median 683 568 674 427 558 767 717
Mean 839 640 910 555 689 925 874
No regular monthly payments
required
375 28 4 0 28 23 292

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

Monthly payments of interest
and/or principal
12344 1602 479 315 284 1577 8088
Less than 5 percent 419 42 24 29 8 44 272
5 to 9 percent 2354 302 90 47 41 309 1566
10 to 14 percent 3262 529 141 88 53 458 1993
15 to 19 percent 2358 287 130 59 63 321 1498
20 to 24 percent 1196 150 28 17 41 121 838
25 to 29 percent 569 67 14 13 20 86 369
30 to 34 percent 354 27 6 4 0 36 282
35 to 39 percent 186 17 0 10 3 21 135
40 to 49 percent 186 10 10 4 11 5 146
50 percent or more 374 32 17 18 3 64 240
Not reported or not computed 1087 140 20 25 42 112 748
Median 14 14 14 14 17 14 15
No regular payments required 391 28 4 0 28 27 305

Real Estate Tax

Acquired before 2000
10896 1315 444 284 275 1244 7334
Less than $100 2588 391 124 70 66 275 1661
$100 to $199 220 43 0 20 6 13 138
$200 to $299 321 40 13 40 17 21 190
$300 to $399 451 55 9 17 12 27 330
$400 to $499 428 43 20 26 6 48 285
$500 to $599 457 58 16 27 5 38 314
$600 to $699 432 39 29 0 7 58 299
$700 to $799 422 56 9 8 7 61 282
$800 to $899 381 70 16 6 7 58 225
$900 to $999 318 40 12 15 9 59 182
$1,000 to $1,249 1043 135 58 10 32 96 712
$1,250 to $1,499 497 72 34 8 11 59 312
$1,500 to $1,999 971 130 24 10 15 123 670
$2,000 to $2,499 704 48 44 10 21 120 460
$2,500 or more 1601 94 34 19 35 188 1231
Not reported 62 0 0 0 18 0 44
Median 826 672 805 369 832 939 865
Mean 1266 881 969 666 1031 1367 1368
Acquired 2000 and 2001 (part) 1839 315 39 31 37 360 1058

Real Estate Tax as Percent of Income

Acquired before 2000
10896 1315 444 284 275 1244 7334
Less than 1.0 percent 3563 496 159 117 102 403 2286
1.0 to 1.9 percent 2450 266 117 66 34 286 1681
2.0 to 2.9 percent 1628 198 73 39 22 197 1099
3.0 to 3.9 percent 763 93 41 4 16 100 509
4.0 to 4.9 percent 488 60 19 13 15 54 328
5.0 to 7.4 percent 520 50 9 11 19 59 371
7.5 to 9.9 percent 166 20 0 5 4 22 115
10.0 percent or more 214 5 6 9 6 36 153
Not reported or computed 1102 126 20 21 56 88 791
Median 1.5 1.4 1.5 1.2 1.2 1.6 1.6
Other properties 1839 315 39 31 37 360 1058

Real Estate Tax Per $1,000 Value

Acquired before 2000
10896 1315 444 284 275 1244 7334
Less than $5 3566 476 150 107 85 351 2398
$5 to $9 3057 314 131 80 81 392 2059
$10 to $14 2188 256 79 83 39 263 1468
$15 to $19 859 113 22 0 19 101 604
$20 to $24 539 64 34 8 6 61 366
$25 to $29 161 14 9 0 26 24 87
$30 to $39 460 79 19 6 0 52 304
$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 62 0 0 0 18 0 44
Median 8 8 8 7 8 8 8
Acquired 2000 and 2001 (part) 1839 315 39 31 37 360 1058

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