U.S. Department of Commerce

Residential Finance Survey

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Residential Finance Survey: 2001 - West
Table 2-3e. 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
8263 908 230 189 203 1030 5702

PROPERTY CHARACTERISTICS


Property Location by Geographic Area

Inside MAs
7253 796 218 149 171 893 5025
In central cities 2675 309 71 54 72 349 1819
Not in central cities 4578 487 147 95 99 544 3206
Outside MAs 1010 112 13 40 32 137 677

Manner of Acquisition

By purchase
8105 897 227 189 200 1020 5572
Placed one new mortgage 7343 824 194 172 200 930 5023
Placed two or more new mortgages 324 20 4 0 0 50 250
Assumed mortgage(s) already on property 257 44 16 14 0 19 163
Assumed mortgage(s) already on property
and placed new mortgage
62 0 9 3 0 7 43
Borrowed using assets other than this
property as collateral
26 3 0 0 0 0 23
Paid all cash-no borrowing 81 0 4 0 0 14 63
Other manner 12 5 0 0 0 0 7
By inheritance or gift 61 0 0 0 3 0 57
By divorce 12 0 0 0 0 0 12
By some other manner 0 0 0 0 0 0 0
Not reported 85 12 3 0 0 10 60

Source of Downpayment@1

Properties purchased
1995 to 2001 (part)
4304 585 114 84 131 632 2758
Sale of previous home 1364 67 22 22 41 253 960
Sale of other real property or other
investments
292 22 5 3 3 20 238
Savings 2275 405 48 48 73 295 1406
Borrowing from a retirement plan 220 39 0 4 11 42 124
Borrowing using assets other than this
property as collateral
57 6 0 0 4 8 39
Proceeds from an insurance policy 41 3 0 0 0 3 35
Payments in a lease-purchase agreement 21 0 3 0 5 4 8
From a state or local government source 48 13 5 4 0 0 26
From a non-profit organization 5 0 0 0 0 0 5
From parents or relatives 422 86 5 11 12 59 249
Other 19 3 0 0 4 0 12
No downpayment required 253 31 33 4 8 38 140
Not reported 116 25 0 0 0 12 79
Other properties 3904 312 116 105 72 388 2910
Not reported 54 12 0 0 0 10 33

Year Property Acquired

1999 to 2001 (part)
2000 318 52 30 62 313 1225
1997 and 1998 1387 201 27 27 39 220 873
1995 and 1996 1000 77 34 27 33 109 718
1990 to 1994 1439 132 56 41 16 131 1062
1985 to 1989 984 91 19 32 20 133 690
1980 to 1984 546 33 11 17 10 35 439
1975 to 1979 522 40 26 9 23 43 381
1970 to 1974 211 5 0 0 0 25 181
1969 or earlier 174 11 4 6 0 21 133

Building and Land Acquisition

Acquired at same time
7644 882 214 173 189 967 5220
Not acquired at same time 438 15 8 10 14 40 351
Land not owned by building owner 94 0 8 6 0 7 73
Not reported 87 12 1 0 0 16 59

Property New or Previously Occupied When
Acquired

Acquired by purchase
8105 897 227 189 200 1020 5572
New 2078 172 54 45 42 287 1478
Previously occupied by someone else 5984 724 173 141 150 729 4068
Converted from non-residential use 3 0 0 0 0 0 3
Other 9 0 0 0 5 0 4
Not reported 32 0 0 4 3 5 20
Other properties 73 0 0 0 3 0 69
Not reported 85 12 3 0 0 10 60

Year Structure Built

1999 to March 2000
476 87 15 5 7 102 260
1997 and 1998 503 65 12 15 12 84 316
1995 and 1996 464 50 16 9 7 73 309
1990 to 1994 867 65 41 18 21 119 604
1980 to 1989 1520 178 41 40 29 165 1068
1970 to 1979 1473 171 46 30 68 172 986
1960 to 1969 871 80 13 25 18 113 623
1950 to 1959 1046 99 35 19 14 116 763
1940 to 1949 468 49 0 16 12 41 350
1939 or earlier 575 65 11 14 15 46 424

Purchase Price

Properties acquired by
purchase 1997 to 2001 (part)
3329 508 79 57 101 523 2062
Less than $20,000 31 0 0 0 0 5 26
$20,000 to $39,999 63 3 0 5 0 5 49
$40,000 to $59,999 68 18 5 4 0 8 34
$60,000 to $79,999 160 49 0 4 13 10 83
$80,000 to $99,999 303 86 11 5 9 51 141
$100,000 to $124,999 428 118 8 0 11 65 226
$125,000 to $149,999 430 101 15 0 9 63 242
$150,000 to $174,999 382 48 12 11 4 60 247
$175,000 to $199,999 255 58 12 3 16 39 126
$200,000 to $249,999 381 10 9 6 18 64 274
$250,000 to $299,999 244 6 0 10 0 56 172
$300,000 to $499,999 398 3 4 9 12 83 287
$500,000 or more 187 5 3 0 8 16 154
Median 161942 120376 150766 175842 181048 173488 173246
Mean 210774 129054 171226 186278 221955 215810 231270
Other properties 4934 401 151 132 102 507 3640

Value

Less than $20,000
21 0 0 0 0 0 21
$20,000 to $39,999 79 0 0 5 11 13 50
$40,000 to $59,999 122 6 3 13 0 1 98
$60,000 to $79,999 265 54 16 12 10 14 157
$80,000 to $99,999 590 119 22 21 11 62 356
$100,000 to $124,999 816 137 36 24 17 83 519
$125,000 to $149,999 918 176 29 17 20 120 555
$150,000 to $174,999 833 142 29 13 9 105 536
$175,000 to $199,999 638 115 13 3 23 63 420
$200,000 to $249,999 960 70 46 21 17 152 654
$250,000 to $299,999 729 25 14 0 13 108 570
$300,000 to $499,999 1444 42 20 36 35 199 1114
$500,000 or more 848 22 3 24 37 110 651
Median 194106 144555 157811 155084 199826 217675 210538
Mean 261530 162431 180825 255241 279301 259912 280443

Purchase Price as Percent of Value@8

Acquired by purchase
8105 897 227 189 200 1020 5572
Purchased 1997 to 2001 (part) 3329 508 79 57 101 523 2062
Less than 60 percent 342 23 4 3 6 39 267
60 to 69 percent 380 50 0 18 0 82 230
70 to 79 percent 595 123 22 16 7 84 342
80 to 99 percent 1388 212 43 0 64 236 833
100 percent or more 620 99 10 20 24 77 389
Median 85 85 86 75 92 85 85
Purchased 1990 to 1996 (part) 2394 209 87 69 46 241 1742
Less than 40 percent 166 19 8 10 5 9 115
40 to 59 percent 428 38 9 9 9 50 314
60 to 79 percent 890 66 34 12 14 84 680
80 to 99 percent 612 63 27 13 18 69 422
100 percent or more 294 24 9 24 0 29 208
Median 74 75 76 85 73 75 73
Purchased 1989 or earlier 2383 180 60 64 53 257 1769
Less than 20 percent 489 28 12 12 18 49 370
20 to 39 percent 617 41 11 12 5 69 479
40 to 59 percent 577 37 20 6 21 59 436
60 to 79 percent 361 40 11 15 9 63 223
80 to 99 percent 141 18 7 3 0 9 104
100 percent or more 198 16 0 15 0 8 158
Median 43 51 47 62 43 44 42
Not acquired by purchase 157 12 3 0 3 10 129

Value-Income Ratio

Less than 1.0
208 12 0 5 9 15 166
1.0 to 1.4 452 57 20 7 11 74 283
1.5 to 1.9 865 109 41 16 23 163 513
2.0 to 2.4 1068 139 41 26 18 131 714
2.5 to 2.9 1029 130 36 13 38 141 671
3.0 to 3.4 793 91 20 19 14 69 580
3.5 to 3.9 631 74 21 9 16 42 470
4.0 or more 2690 248 45 82 66 329 1920
Not reported or not computed 526 47 7 11 9 66 386
Median 3.2 2.9 2.6 3.6 3.0 2.9 3.3

Value of Capital Improvements

Properties with capital
improvements between 1998
and 2000
4561 518 115 94 100 585 3150
Less than $500 56 0 0 0 0 11 44
$500 to $999 163 21 3 9 0 13 117
$1,000 to $2,499 742 112 13 20 16 97 483
$2,500 to $4,999 598 64 20 15 9 66 424
$5,000 to $7,499 778 94 18 4 19 109 534
$7,500 to $9,999 261 36 17 8 17 47 136
$10,000 to $14,999 603 96 16 0 9 74 408
$15,000 to $19,999 414 30 11 13 13 59 287
$20,000 to $29,999 428 43 13 12 12 64 285
$30,000 or more 519 21 3 13 5 44 432
Median 7324 6645 7856 6997 8392 7412 7376
Mean 13957 8388 11171 13198 10467 12632 15354
Properties with no capital
improvements between 1998 and 2000
2958 335 98 84 90 373 1979
Capital improvements not
reported
744 56 18 12 13 72 573

Age Restrictions

Property located in subdivision
restricted to people age 55 or older
362 57 14 11 7 36 238
Property located in subdivision not
restricted to people age 55 or older
7646 818 206 171 196 958 5297
Not reported 255 34 11 8 0 35 167

Neighborhood Composition

Property located in subdivision or
neighborhood occupied predominantly by
people age 55 or older
458 35 9 3 13 24 374
Property located in subdivision or
neighborhood not occupied predominantly
by people age 55 or older
5637 642 147 138 150 776 3784
Don't know or not reported 2168 231 74 48 40 230 1544

Type of Property Benefits@1

Government-sponsored below-market
interest rate mortgage loan
118 21 3 14 10 8 61
Other government grant or subsidy 55 9 6 14 0 0 27
Property tax relief 218 9 8 12 0 24 165
Subsidy from a non-profit corporation 0 0 0 0 0 0 0
None of the above benefits 6419 670 156 120 178 849 4446
Not reported 1456 200 57 29 15 152 1002

Source of Property Benefits@1

With property benefits
388 39 17 40 10 28 253
Federal government 123 19 9 17 5 5 69
State government 139 12 8 4 0 14 100
Local government 101 5 0 13 5 9 68
Non-profit corporation 0 0 0 0 0 0 0
Not reported 25 3 0 6 0 0 16
With no property benefits 6419 670 156 120 178 849 4446
Not reported 1456 200 57 29 15 152 1002

Reason for Benefits@1

With property benefits
388 39 17 40 10 28 253
Occupied by low- or moderate-income
individuals
147 17 10 27 0 6 87
Occupied by elderly or disabled
individuals
61 3 0 5 0 0 53
A historic structure 7 0 0 0 0 0 7
Located in a community development or
economic development area
39 10 0 0 5 6 18
Covered by a Homestead Exemption 69 0 0 13 0 8 48
Covered by a Community Land Trust 0 0 0 0 0 0 0
Covered by disaster relief 14 0 0 0 5 0 9
Other reason 87 14 7 0 0 9 58
Not reported 22 3 0 0 0 0 18
With no property benefits 6419 670 156 120 178 849 4446
Not reported 1456 200 57 29 15 152 1002

OWNER CHARACTERISTICS


Owner Status

1 owner
2329 277 75 78 51 261 1587
2 owners 5787 614 155 106 146 757 4008
3 or more owners 147 17 0 6 5 12 107

Age of Owner

Under 25
42 3 0 6 5 4 25
25 to 34 975 179 32 11 41 133 579
35 to 44 2364 283 64 49 36 327 1605
45 to 54 2384 221 46 77 61 322 1656
55 to 64 1365 126 52 13 45 136 993
65 to 74 586 26 17 9 14 60 460
75 and over 214 17 3 19 0 19 155
Not reported 333 53 17 6 0 28 229
Median 47 44 47 48 48 46 48

Race of Owner

White alone
7195 825 213 159 186 872 4940
Black or African American alone 254 38 6 6 5 35 164
American Indian or Alaska Native alone 99 14 0 0 5 3 77
Asian alone 552 27 10 22 7 83 403
Native Hawaiian or Other Pacific
Islander alone
99 5 1 0 0 17 76
Two or more races 63 0 0 3 0 19 41

Sex of Owner

Male/Male and female co-owners
6933 759 216 131 183 908 4736
Female 1330 149 14 59 20 122 966

Hispanic/Latino Origin

Hispanic/Latino owner(s) only
1298 237 28 60 25 120 829
No Hispanic/Latino owner(s) 6965 671 203 129 178 910 4873

Veteran Status@1

Veteran
1850 137 165 24 38 209 1277
Active member of Reserves or National
Guard for at least 6 years
290 28 23 0 14 35 191
Persian Gulf War or after
(August 1990 to present)
174 15 39 0 3 6 110
Vietnam or after
(August 1964 to July 1990)
1108 101 107 13 21 128 739
Korean conflict or after
(July 1950 to July 1964)
398 16 20 5 12 54 291
World War II or after
(September 1940 to June 1950)
168 13 7 11 0 7 129
Nonveteran 6053 721 55 165 157 780 4175
Not reported 360 50 10 0 9 41 250

Income

Less than $5,000
597 57 7 11 9 85 428
$5,000 to $9,999 58 5 4 10 0 3 35
$10,000 to $14,999 63 5 5 0 0 5 48
$15,000 to $19,999 228 10 6 19 3 11 179
$20,000 to $24,999 334 45 0 20 10 23 236
$25,000 to $29,999 331 74 12 20 14 44 167
$30,000 to $34,999 379 71 7 13 8 41 239
$35,000 to $39,999 358 53 8 5 8 30 254
$40,000 to $49,999 886 177 33 9 28 63 575
$50,000 to $59,999 836 123 30 13 32 113 526
$60,000 to $79,999 1350 126 55 24 18 187 940
$80,000 to $99,999 991 89 32 5 23 149 692
$100,000 to $119,999 710 50 25 27 17 112 479
$120,000 or more 1142 22 6 13 32 165 904
Median 60911 47532 60933 37448 56450 70400 63502
Mean 76526 51594 60910 59808 89555 77596 81026

Owned Home Previously

Previously owned home
5021 382 116 94 108 680 3640
Never owned home before 3017 513 103 92 92 326 1891
Not reported 225 14 11 4 3 23 170

MORTGAGE CHARACTERISTICS


Number of Mortgages

1 mortgage
6128 686 143 145 147 743 4263
2 mortgages 1928 188 71 44 56 269 1300
3 or more mortgages 207 34 17 0 0 18 139

Form of Debt of First Mortgage

Mortgage or deed of trust
8263 908 230 189 203 1030 5702
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
98 0 4 0 5 15 75
By telephone or FAX 816 87 13 7 21 94 595
By regular mail 267 24 5 4 5 17 212
By personal visit 4654 494 110 121 108 634 3187
Through third party (such as real
estate agent or builder)
1906 258 87 49 60 228 1224
Some other way 22 5 0 0 0 0 18
Not reported 422 27 3 3 3 30 356
Not available 76 14 10 5 0 13 35

Origin of First Mortgage

Mortgage made at time property acquired
5423 688 178 124 160 728 3545
Mortgage assumed at the time property
acquired
180 34 13 10 0 20 103
Mortgage placed later than acquisition of
property
2659 185 40 55 43 283 2054
Refinanced mortgage 2501 180 36 52 43 268 1922
Same lender 648 65 16 9 14 30 515
Different lender 1853 114 20 43 29 239 1408
Mortgage placed on property
owned free and clear of debt
158 6 4 3 0 14 132
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
2659 185 40 55 43 283 2054
Obtain lower interest rate 1626 114 13 43 29 170 1258
Increase payment period for mortgage 16 0 0 0 3 3 9
Reduce payment period for mortgage 88 12 4 6 0 6 60
Renew or extend loan that had fallen
due, without increasing outstanding
balance
65 11 5 0 0 11 39
Receive cash or increase outstanding
balance of loan
769 49 12 7 5 84 613
Other reason 37 0 0 0 0 0 37
Not reported 58 0 5 0 5 10 38
Other properties 5604 723 191 134 160 747 3648
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
1267 77 15 18 16 141 1001
Less than $20,000 456 42 3 6 16 58 331
$20,000 to $39,999 384 19 3 7 0 32 324
$40,000 to $59,999 201 3 9 6 0 34 150
$60,000 to $79,999 78 6 0 0 0 9 64
$80,000 to $99,999 53 3 0 0 0 4 46
$100,000 to $124,999 44 3 0 0 0 0 41
$125,000 to $149,999 24 0 0 0 0 5 20
$150,000 to $174,999 14 0 0 0 0 0 14
$175,000 to $199,999 0 0 0 0 0 0 0
$200,000 to $249,999 7 0 0 0 0 0 7
$250,000 to $299,999 5 0 0 0 0 0 5
$300,000 or more 0 0 0 0 0 0 0
Median 29269 18135 42766 30058 10000 27787 30475
Mean 36024 27711 33457 24285 6865 30038 38212
Properties that refinanced
and did not receive cash back
1159 93 20 28 22 118 878
Properties that refinanced
and did not report if received
cash back
233 15 5 9 5 23 176
Properties that did not
refinance
5604 723 191 134 160 747 3648
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
1267 77 15 18 16 141 1001
For additions, improvements or repairs
to this property
592 25 11 15 16 58 469
To consolidate debts 567 36 3 12 0 59 457
For investment in other real estate 115 4 0 0 0 19 92
For other types of investments 93 5 0 0 0 13 74
For educational or medical expenses 85 0 0 0 0 20 65
To start a business 49 3 4 0 0 8 34
To settle a divorce 16 8 0 0 0 0 7
To pay taxes 40 0 0 0 0 5 35
To purchase an automobile, truck, or
other vehicle
177 15 3 0 0 34 124
To purchase consumer product other than
automobile, truck, or other vehicle
38 5 0 0 0 0 33
Other 18 0 0 0 0 6 12
Not reported 18 4 0 0 0 0 14
Properties that refinanced
and did not receive cash back
1159 93 20 28 22 118 878
Properties that refinanced
and did not report if received
cash back
233 15 5 9 5 23 176
Properties that did not
refinance
5604 723 191 134 160 747 3648
Not available 0 0 0 0 0 0 0

Purpose of Second Mortgage

Properties with second
mortgage
1131 139 55 22 19 144 751
Provide funds for the purchase of this
property
144 18 0 7 0 26 93
Provide funds for additions,
improvements or repairs to this
property
289 50 14 7 5 42 171
Provide funds for consolidation of debts 269 28 21 8 9 16 187
Provide funds for investment in other
real estate
33 0 0 0 0 16 17
Provide funds for other types of
investments
18 0 0 0 0 4 14
Provide funds for educational or
medical expenses
12 0 0 0 0 0 12
Provide funds for starting a business 47 4 0 0 0 10 32
Provide funds to settle a divorce 15 0 0 0 0 4 12
Provide funds to pay taxes 9 5 0 0 0 0 4
Provide funds to purchase automobile,
truck, or vehicle
34 0 3 0 0 5 25
Provide funds to purchase another type
of consumer product
8 0 0 0 0 0 8
Other reasons 10 6 0 0 0 0 5
Not reported 243 29 17 0 5 21 171
Other properties 7132 769 175 168 184 886 4951

Purpose of Home Equity Line of Credit

Properties with home equity
line of credit
1196 111 49 23 37 160 816
Provide funds for additions,
improvements or repairs to this
property
335 19 7 8 27 44 231
Provide funds for consolidation of debts 314 32 20 9 3 54 196
Provide funds for investment in other
real estate
26 0 3 0 0 0 23
Provide funds for other types of
investments
25 3 0 0 0 0 22
Provide funds for educational or
medical expenses
19 0 0 0 4 0 16
Provide funds for starting a business 25 4 0 0 0 4 18
Provide funds to settle a divorce 9 0 0 0 0 4 6
Provide funds to pay taxes 18 0 4 0 0 3 11
Provide funds to purchase automobile,
truck, or vehicle
69 5 0 0 0 7 57
Provide funds to purchase another type
of consumer product
21 3 0 0 0 0 18
Other reasons 7 0 0 0 0 0 7
Not reported 327 45 15 6 3 45 214
Other properties 7067 797 181 167 166 870 4886

Year First Mortgage Made or
Assumed

1999 to 2001 (part)
3272 411 59 48 82 455 2217
1997 and 1998 2026 228 71 40 47 270 1370
1995 and 1996 922 71 17 22 27 131 654
1990 to 1994 1328 131 54 38 18 86 1000
1985 to 1989 378 34 5 29 20 49 242
1980 to 1984 144 18 6 8 6 4 102
1979 or earlier 192 15 18 6 4 33 117

Traditional First Mortgage Loan

Less than $20,000
127 0 0 11 0 13 102
$20,000 to $29,999 208 14 10 12 10 7 154
$30,000 to $39,999 205 31 4 21 3 32 113
$40,000 to $49,999 215 36 3 8 0 23 145
$50,000 to $59,999 511 58 23 8 8 38 376
$60,000 to $79,999 1002 143 36 29 27 73 694
$80,000 to $99,999 1014 165 34 22 16 144 634
$100,000 to $149,999 2118 325 57 26 63 235 1413
$150,000 to $199,999 1255 129 47 19 43 146 872
$200,000 to $249,999 684 3 4 18 10 124 525
$250,000 to $299,999 292 0 9 10 0 88 184
$300,000 or more 560 5 1 4 22 104 424
Not reported 73 0 3 0 0 3 67
Median 119216 101206 103433 84377 129032 138985 121232
Mean 141662 104262 115429 107283 162705 162780 145293

Total Mortgage Loan

Less than $20,000
121 0 0 11 0 8 102
$20,000 to $29,999 169 5 10 5 10 7 131
$30,000 to $39,999 192 31 0 28 3 32 97
$40,000 to $49,999 204 40 6 8 0 20 130
$50,000 to $59,999 442 54 20 4 8 39 319
$60,000 to $79,999 927 126 36 23 22 54 666
$80,000 to $99,999 1006 170 12 29 11 136 648
$100,000 to $149,999 2084 292 61 30 73 242 1386
$150,000 to $199,999 1352 168 53 16 43 159 913
$200,000 to $249,999 724 16 14 22 10 127 536
$250,000 to $299,999 322 2 14 10 0 92 204
$300,000 or more 653 5 1 4 22 111 510
Not reported 67 0 3 0 0 3 61
Median 124869 104857 123997 90868 132034 144944 126251
Mean 149267 110536 128603 110404 164469 169048 153489

Traditional First Mortgage Outstanding
Debt

Less than $10,000
166 7 13 11 0 21 113
$10,000 to $19,999 182 7 7 6 0 8 153
$20,000 to $29,999 290 33 0 12 14 23 207
$30,000 to $39,999 251 34 0 19 3 26 169
$40,000 to $49,999 422 53 12 10 5 39 303
$50,000 to $59,999 467 58 18 7 11 22 350
$60,000 to $79,999 1005 144 41 33 19 130 638
$80,000 to $99,999 1064 171 27 25 31 101 709
$100,000 to $149,999 1944 285 55 18 49 241 1296
$150,000 to $199,999 1156 111 44 22 38 162 781
$200,000 to $249,999 532 0 5 18 10 94 405
$250,000 to $299,999 228 0 4 5 0 76 143
$300,000 or more 488 5 1 4 22 84 372
Not reported 69 0 3 0 0 3 63
Median 106468 93741 96378 77983 118292 129847 106802
Mean 129757 97376 105739 99848 152831 150908 132260

Total Mortgage Outstanding Debt

Less than $10,000
148 4 13 11 0 16 105
$10,000 to $19,999 155 11 3 6 0 8 127
$20,000 to $29,999 247 28 4 5 14 19 177
$30,000 to $39,999 248 34 0 25 3 25 161
$40,000 to $49,999 363 49 9 5 5 33 262
$50,000 to $59,999 438 56 18 7 11 23 323
$60,000 to $79,999 974 130 26 27 11 107 674
$80,000 to $99,999 1053 174 23 33 34 111 678
$100,000 to $149,999 1923 253 68 18 54 235 1294
$150,000 to $199,999 1277 163 44 25 38 183 824
$200,000 to $249,999 544 0 15 18 10 97 404
$250,000 to $299,999 279 2 4 5 0 82 186
$300,000 or more 548 5 1 4 22 88 429
Not reported 64 0 3 0 0 3 57
Median 112275 96438 113483 84815 121235 136466 112178
Mean 135854 103042 115680 102909 154171 156354 138634

Current Interest Rate on First Mortgage

Less than 6.0 percent
2449 11 0 119 109 315 1894
6.0 percent 113 3 0 0 0 0 111
6.1 to 6.4 percent 200 9 0 0 0 33 158
6.5 to 6.9 percent 902 73 29 9 0 82 709
7.0 percent 874 134 38 9 19 91 583
7.1 to 7.4 percent 617 126 34 12 3 95 347
7.5 to 7.9 percent 823 189 27 9 11 110 477
8.0 percent 299 65 31 0 6 53 145
8.1 to 8.4 percent 191 25 0 0 0 56 110
8.5 to 8.9 percent 172 40 13 5 0 21 94
9.0 percent 83 15 6 7 0 13 43
9.1 to 9.4 percent 69 32 5 0 0 0 31
9.5 to 9.9 percent 111 39 23 0 3 11 35
10.0 percent 30 7 0 0 0 7 16
10.1 to 10.4 percent 39 16 0 0 0 9 15
10.5 to 10.9 percent 51 10 5 0 9 0 27
11.0 percent 87 0 0 5 0 13 69
11.1 to 12.9 percent 122 57 8 0 0 0 57
13.0 percent 20 0 0 0 0 0 20
13.1 percent or more 1010 57 12 15 44 122 761
Not reported 0 0 0 0 0 0 0
Median 7.1 7.8 7.8 4.8 5.6 7.1 7.0

Type of Interest Rate Buydown

Properties with interest rate
buydown
363 39 16 0 6 0 302
Constant payment 0 0 0 0 0 0 0
3-2-1 buydown 0 0 0 0 0 0 0
Other 14 14 0 0 0 0 0
Not reported 349 25 16 0 6 0 302
Properties without interest
rate buydown
3278 433 99 42 25 429 2250
Not reported 4622 436 116 148 172 600 3150

Term of First Mortgage

Less than 5 years
5 5 0 0 0 0 0
5 years 16 0 0 0 0 0 16
6 to 9 years 13 0 0 0 0 0 13
10 years 78 0 0 0 0 4 74
11 to 14 years 0 0 0 0 0 0 0
15 years 646 13 4 0 0 61 568
16 to 19 years 17 0 0 0 0 4 13
20 years 48 1 0 0 0 16 31
21 to 24 years 0 0 0 0 0 0 0
25 years 16 0 0 0 0 0 16
26 to 29 years 14 0 4 0 0 0 10
30 years 3720 889 223 4 31 410 2163
More than 30 years 67 0 0 38 0 8 20
No stated term 3623 0 0 148 172 526 2777
Median 30 30 30 62 31 30 30

Unexpired Term of First Mortgage

Less than 5 years
91 9 7 0 0 3 72
5 to 9 years 321 34 17 0 0 24 246
10 to 14 years 440 9 9 0 0 32 392
15 to 19 years 213 49 0 7 0 39 118
20 to 24 years 609 131 63 5 6 47 357
25 to 29 years 2398 540 118 22 16 276 1426
30 or more years 568 137 17 8 9 82 315
No stated term or not computed 3623 0 0 148 172 526 2777
Median 26 27 26 27 28 27 26

Holder of First Mortgage

Commercial bank or trust company
1089 99 35 47 26 141 742
Savings and loan association, federal
savings bank
765 46 4 15 41 105 553
Mutual savings bank 85 3 0 5 5 18 54
Life insurance company 95 5 0 5 5 12 68
Mortgage banker or mortgage company 1195 195 19 3 9 247 722
Federally-sponsored secondary market
agency or pool
3734 478 142 60 93 366 2595
Conventional mortgage pool 141 5 1 0 0 18 117
Other federal agency 178 11 10 44 0 16 97
Real estate investment trust 3 3 0 0 0 0 0
Pension or retirement fund 10 0 4 0 0 0 6
Credit union 290 3 8 4 5 28 241
Finance company 125 9 0 0 0 23 94
State or municipal government or
housing finance agency
291 42 7 4 0 32 207
Individual or individual's estate 109 5 0 0 14 9 81
Other 153 3 0 3 5 16 124

Servicer of First Mortgage

Commercial bank or trust company
1507 143 39 47 23 157 1098
Savings and loan association, federal
savings bank
881 68 4 19 40 108 643
Mutual savings bank 85 3 0 5 5 18 54
Life insurance company 89 5 0 5 5 12 61
Mortgage banker or mortgage company 4552 625 150 64 106 611 2995
Federally-sponsored secondary market
agency or pool
0 0 0 0 0 0 0
Conventional mortgage pool 0 0 0 0 0 0 0
Other federal agency 170 3 10 44 0 16 97
Real estate investment trust 3 3 0 0 0 0 0
Pension or retirement fund 4 0 4 0 0 0 0
Credit union 312 3 15 4 5 28 257
Finance company 129 9 0 0 0 23 97
State or municipal government or
housing finance agency
279 37 7 0 0 32 203
Individual or individual's estate 99 5 0 0 14 9 72
Other 153 3 0 3 5 16 124

Holder's Acquisition of First Mortgage

Originated directly from borrower
3390 339 68 83 114 460 2325
Purchased from present servicer 2265 275 84 52 47 246 1560
Purchased from someone else 2608 294 78 54 42 323 1817
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
5498 711 187 134 157 738 3571
Less than 40 percent 213 12 0 6 0 17 178
40 to 49 percent 127 7 0 6 3 16 96
50 to 59 percent 172 7 7 7 5 14 132
60 to 69 percent 583 57 0 23 21 56 426
70 to 79 percent 651 33 14 14 11 65 514
80 to 89 percent 1017 66 20 21 12 111 788
90 to 94 percent 490 57 5 9 9 145 265
95 to 99 percent 666 196 38 5 25 134 267
100 percent or more 1511 275 100 45 70 172 849
Not reported 67 0 3 0 0 7 57
Median 90 98 8434 86 98 93 85
Other properties 2764 197 43 55 46 292 2131
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
5498 711 187 134 157 738 3571
Less than 40 percent 249 3 0 0 0 18 227
40 to 49 percent 106 3 3 6 3 13 79
50 to 59 percent 192 3 0 7 5 19 158
60 to 69 percent 1325 227 48 29 42 154 825
70 to 79 percent 787 35 13 24 0 80 635
80 to 89 percent 827 56 7 24 15 125 601
90 to 94 percent 437 39 8 9 9 146 226
95 to 99 percent 561 226 29 4 25 75 202
100 percent or more 952 118 76 33 56 106 562
Not reported 63 0 3 0 0 3 57
Median 81 94 97 81 96 87 77
Other properties 2764 197 43 55 46 292 2131
Not available 0 0 0 0 0 0 0

First Mortgage Risk

Subprime loan
403 41 4 4 12 36 307
Not subprime loan 7859 867 227 186 191 994 5394
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
5498 711 187 134 157 738 3571
Less than 40 percent 203 12 0 6 0 17 168
40 to 49 percent 117 7 0 6 3 16 86
50 to 59 percent 147 4 3 0 5 9 126
60 to 69 percent 534 48 3 18 21 47 397
70 to 79 percent 584 28 21 21 11 58 446
80 to 89 percent 887 70 10 26 12 89 680
90 to 94 percent 491 53 1 9 9 137 281
95 to 99 percent 622 171 41 5 25 120 260
100 percent or more 1851 318 105 45 70 238 1075
Not reported 62 0 3 0 0 7 51
Median 93 99 12414 87 98 95 88
Other properties 2764 197 43 55 46 292 2131
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
5498 711 187 134 157 738 3571
Less than 40 percent 731 48 17 28 16 75 547
40 to 49 percent 467 45 6 9 24 52 332
50 to 59 percent 609 47 18 12 7 78 447
60 to 69 percent 859 107 12 14 31 91 604
70 to 79 percent 883 108 19 22 17 105 611
80 to 89 percent 824 102 56 29 21 162 453
90 to 94 percent 355 80 24 4 21 72 155
95 to 99 percent 254 81 3 0 10 43 116
100 percent or more 460 93 29 17 11 57 253
Not reported 58 0 3 0 0 3 51
Median 71 80 84 72 71 77 67
Other properties 2764 197 43 55 46 292 2131
Not available 0 0 0 0 0 0 0

Total Outstanding Debt as a Percent
of Value

Less than 20 percent
578 47 14 23 8 41 445
20 to 29 percent 595 24 7 18 13 49 484
30 to 39 percent 799 55 15 25 21 84 598
40 to 49 percent 803 63 14 7 26 75 619
50 to 59 percent 1120 98 16 24 10 149 823
60 to 69 percent 1281 126 12 35 48 108 951
70 to 79 percent 1166 133 48 22 24 197 741
80 to 89 percent 831 138 46 22 17 177 430
90 to 99 percent 630 159 19 5 30 104 314
100 percent or more 373 61 33 9 6 34 231
Not reported or not computed 87 4 6 0 0 11 66
Median 62 73 77 59 65 70 58

Index Used to Adjust Interest Rate
on ARM

Properties with adjustable
rate first mortgage
1198 124 36 8 35 110 885
Treasury security 190 43 7 0 0 8 132
Average cost of funds in bank district 123 0 0 0 0 7 116
National average cost of funds 0 0 0 0 0 0 0
OTS contract mortgage rate 0 0 0 0 0 0 0
Other method 108 0 0 0 9 4 95
No index used 31 0 0 0 0 8 23
Not reported 747 81 29 8 27 83 519
Other properties 7064 784 194 182 168 920 4817
Not reported 0 0 0 0 0 0 0

Frequency With Which Rate Can Be
Adjusted

Properties with adjustable
rate first mortgage
1198 124 36 8 35 110 885
Monthly 164 0 0 0 0 8 157
Every 3 months 12 0 0 0 0 3 8
Every 6 months 70 0 0 0 9 0 61
Yearly 230 43 7 0 0 17 163
Every 3 years 0 0 0 0 0 0 0
Every 5 years 6 0 0 0 0 0 6
Other 3 0 0 0 0 0 3
Not reported 713 81 29 8 27 81 486
Other properties 7064 784 194 182 168 920 4817
Not reported 0 0 0 0 0 0 0

Caps on Interest Rate Per Adjustment
Period

Properties with adjustable
rate first mortgage
1198 124 36 8 35 110 885
Less than 1 percent 3 0 0 0 3 0 0
1 percent 0 0 0 0 0 0 0
1.1 to 1.9 percent 29 0 0 0 0 0 29
2 percent 111 0 0 0 0 8 103
2.1 to 2.9 percent 10 3 0 0 0 3 3
3 percent 7 0 0 0 0 0 7
3.1 to 3.9 percent 41 34 0 0 0 0 7
4.0 percent or more 108 5 7 0 5 0 90
No caps 161 0 0 0 0 15 146
Not reported 728 81 29 8 27 83 500
Other properties 7064 784 194 182 168 920 4817
Not reported 0 0 0 0 0 0 0

Caps on Interest Rate Over Life of ARM

Properties with adjustable
rate first mortgage
1198 124 36 8 35 110 885
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 4 0 0 0 0 0 4
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 363 43 7 0 9 11 293
No caps 61 0 0 0 0 12 49
Not reported 767 81 29 8 27 86 535
Other properties 7064 784 194 182 168 920 4817
Not reported 0 0 0 0 0 0 0

Interest Rate Changed Since
Mortgage Made

Properties with adjustable
rate first mortgage
1198 124 36 8 35 110 885
Yes, rate has changed 308 43 7 0 3 15 239
No change since mortgage made 167 0 0 0 5 8 155
Not reported 723 81 29 8 27 87 491
Other properties 7064 784 194 182 168 920 4817
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
26 0 0 0 0 4 22
Payments can change monthly 15 0 0 0 0 0 15
Payments can change every three months 0 0 0 0 0 0 0
Payments can change every six months 4 0 0 0 0 0 4
Payments can change yearly 4 0 0 0 0 0 4
Payments can change every 3 years 0 0 0 0 0 0 0
Payments can change every 5 years 4 0 0 0 0 4 0
Other 0 0 0 0 0 0 0
Not reported 0 0 0 0 0 0 0
Monthly payments cannot
change
7527 837 201 182 176 939 5192
Not reported 709 71 29 8 27 87 487

First Mortgage Allows for Negative
Amortization

Monthly payments can change
(other than change in interest
rate)
26 0 0 0 0 4 22
Yes, unrestricted negative amortization 0 0 0 0 0 0 0
Yes, restricted negative amortization 14 0 0 0 0 0 14
No negative amortization allowed 13 0 0 0 0 4 8
Not reported 0 0 0 0 0 0 0
Monthly payments cannot change 7527 837 201 182 176 939 5192
Not reported 709 71 29 8 27 87 487

MORTGAGE PAYMENTS AND OTHER EXPENSES


Method of Payment of First Mortgage

Regular payments of interest
and/or principal
8058 893 227 185 200 1005 5549
Interest and principal 8035 893 227 185 200 1002 5529
Fully amortized 6987 708 197 111 145 827 4999
Not fully amortized 1048 185 30 73 54 175 531
Interest only 23 0 0 0 0 3 20
No regular payments required 40 12 0 0 0 4 24
Not reported 164 4 3 5 3 21 128

Items Included in First Mortgage
Payment@1

Regular monthly payments of
both interest and principal
8035 893 227 185 200 1002 5529
Real estate taxes 2671 494 129 13 15 398 1623
Property insurance 2477 486 123 13 15 377 1463
Mortgage insurance 806 348 5 0 9 299 145
Other 938 214 64 5 0 116 539
No items included or not reported 5234 376 98 172 185 583 3820
No regular payments of interest
and principal
228 16 3 5 3 28 172

Monthly Interest and Principal Payments
on First Mortgage

Monthly payments of interest
and/or principal
8058 893 227 185 200 1005 5549
Less than $100 33 0 0 6 0 8 20
$100 to $199 119 6 13 0 5 19 76
$200 to $299 222 28 4 23 0 17 151
$300 to $399 422 50 14 22 14 25 298
$400 to $499 427 46 12 9 11 30 320
$500 to $599 644 137 38 20 10 80 360
$600 to $699 705 101 14 19 12 65 493
$700 to $799 744 110 18 12 17 74 513
$800 to $899 637 110 12 8 17 70 419
$900 to $999 604 68 16 6 14 88 412
$1,000 to $1,249 1194 142 47 5 36 123 841
$1,250 to $1,499 762 60 21 11 31 109 530
$1,500 or more 1545 34 19 45 32 297 1118
Median 913 771 804 668 999 1055 930
Mean 1102 811 883 940 1229 1231 1135
No regular payments required 40 12 0 0 0 4 24
Not reported 164 4 3 5 3 21 128

Current First Mortgage Payment Status

Regular monthly payments of
principal and/or interest
8223 896 230 189 203 1026 5678
Up-to-date, ahead of schedule, or
less than 90 days past due
3967 500 132 42 19 463 2811
Delinquent by 90 days or more 84 20 0 0 9 13 43
Legal proceedings have begun 36 1 0 0 9 4 22
Legal proceedings have not begun 23 18 0 0 0 0 5
Not reported 25 0 0 0 0 8 16
Not reported 4171 377 98 148 176 550 2823
Other properties 40 12 0 0 0 4 24

Monthly Interest and Principal Payments
on Total Mortgages

Regular monthly payments of
interest and/or principal
8083 893 227 185 200 1014 5565
Less than $100 37 0 0 6 0 11 20
$100 to $199 101 0 13 0 5 19 64
$200 to $299 208 28 0 16 0 17 147
$300 to $399 376 46 14 14 14 25 263
$400 to $499 391 52 9 9 11 28 283
$500 to $599 582 105 25 31 5 63 353
$600 to $699 688 105 4 19 12 72 476
$700 to $799 692 106 28 8 7 66 476
$800 to $899 595 104 14 16 26 59 375
$900 to $999 629 63 16 6 20 87 438
$1,000 to $1,249 1189 146 55 5 36 117 830
$1,250 to $1,499 825 80 25 11 31 117 562
$1,500 or more 1771 59 24 45 32 332 1279
Median 959 805 935 688 999 1127 974
Mean 1175 866 958 978 1245 1283 1218
No regular monthly payments
required
179 16 3 5 3 15 137

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

Monthly payments of interest
and/or principal
8058 893 227 185 200 1005 5549
Less than 5 percent 253 9 0 9 5 31 199
5 to 9 percent 933 100 33 22 12 87 679
10 to 14 percent 1742 153 75 35 34 227 1218
15 to 19 percent 1401 205 48 8 43 168 929
20 to 24 percent 1202 121 17 31 45 176 812
25 to 29 percent 657 75 17 25 25 74 441
30 to 34 percent 476 63 8 6 17 66 316
35 to 39 percent 225 32 5 22 10 34 122
40 to 49 percent 286 47 4 6 0 41 189
50 percent or more 411 42 13 9 0 44 302
Not reported or not computed 474 47 7 11 9 58 342
Median 18 19 15 22 20 19 18
No regular payments required 204 16 3 5 3 25 153

Real Estate Tax

Acquired before 2000
7108 736 208 180 170 842 4972
Less than $100 1143 104 36 34 13 143 812
$100 to $199 30 8 0 0 5 0 16
$200 to $299 37 8 0 0 0 7 23
$300 to $399 110 25 0 13 0 5 67
$400 to $499 136 25 8 0 0 11 93
$500 to $599 139 24 3 8 3 25 75
$600 to $699 239 21 11 10 5 44 149
$700 to $799 288 28 8 7 3 44 197
$800 to $899 264 55 13 0 18 4 175
$900 to $999 276 42 21 0 5 35 174
$1,000 to $1,249 798 107 9 38 36 88 520
$1,250 to $1,499 521 95 29 9 9 44 335
$1,500 to $1,999 883 90 28 13 3 127 621
$2,000 to $2,499 674 62 13 12 24 97 467
$2,500 or more 1538 43 28 36 45 167 1219
Not reported 32 0 0 0 0 3 29
Median 1287 1064 1103 1120 1226 1333 1378
Mean 1820 1216 1294 1438 2209 1681 1956
Acquired 2000 and 2001 (part) 1155 172 23 9 33 188 730

Real Estate Tax as Percent of Income

Acquired before 2000
7108 736 208 180 170 842 4972
Less than 1.0 percent 1533 162 32 48 23 243 1025
1.0 to 1.9 percent 1485 158 56 30 35 172 1034
2.0 to 2.9 percent 1440 183 45 26 50 157 979
3.0 to 3.9 percent 908 84 39 23 25 68 671
4.0 to 4.9 percent 503 53 3 11 7 65 364
5.0 to 7.4 percent 446 41 7 20 14 31 333
7.5 to 9.9 percent 123 10 8 0 5 20 80
10.0 percent or more 249 22 10 12 3 37 164
Not reported or computed 421 23 7 11 9 50 322
Median 2.2 2.2 2.3 2.3 2.5 1.9 2.3
Other properties 1155 172 23 9 33 188 730

Real Estate Tax Per $1,000 Value

Acquired before 2000
7108 736 208 180 170 842 4972
Less than $5 1912 187 47 63 31 245 1339
$5 to $9 3247 359 92 68 94 356 2278
$10 to $14 1339 126 45 34 31 185 916
$15 to $19 265 28 15 9 3 19 191
$20 to $24 75 4 4 0 0 10 57
$25 to $29 33 8 0 0 0 3 21
$30 to $39 204 24 5 6 10 20 140
$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 32 0 0 0 0 3 29
Median 8 8 8 7 8 7 7
Acquired 2000 and 2001 (part) 1155 172 23 9 33 188 730

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