U.S. Department of Commerce

Residential Finance Survey

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Residential Finance Survey: 2001 - United States
Table 2-6. VA First Mortgages by Holder of Mortgage, 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^^

Holder of First Mortgage
Total Commercial
bank or
trust
company
Savings and
loan
association
Mutual
savings
bank
Life
insurance
company
Mortgage
banker or
mortgage
company
Federally-
sponsored
agency or
mortgage
pool
Conventional
mortgage
pool
Other
federal
agency
Real estate
investment
trust (REIT)
Pension
fund
or
retirement
fund
Credit
union
Finance
company
State or
municipal
government
or housing
finance
agency
Individual
or
individual's
estate
Other

1-housing-unit properties with
traditional first mortgage
1055 78 45 7 21 92 699 14 34 0 4 16 0 31 8 5

PROPERTY CHARACTERISTICS


Property Location by Geographic Area

Inside MAs
943 69 38 7 21 92 623 8 25 0 4 16 0 27 8 5
In central cities 322 27 11 0 16 30 211 3 8 0 0 8 0 4 5 0
Not in central cities 622 42 27 7 5 63 412 5 17 0 4 8 0 23 3 5
Outside MAs 111 9 7 0 0 0 76 6 9 0 0 0 0 4 0 0

Year Structure Built

1999 to March 2000
58 5 0 4 0 3 36 0 4 0 0 4 0 4 0 0
1997 and 1998 63 5 4 0 0 7 37 0 0 0 0 0 0 5 0 5
1995 and 1996 55 0 4 0 5 0 46 1 0 0 0 0 0 0 0 0
1990 to 1994 152 7 5 0 0 15 104 3 5 0 0 3 0 4 5 0
1980 to 1989 175 20 0 0 0 30 122 0 3 0 0 0 0 0 0 0
1970 to 1979 174 15 4 0 0 12 116 0 4 0 4 5 0 14 0 0
1960 to 1969 101 3 2 4 0 5 79 0 4 0 0 0 0 0 3 0
1950 to 1959 156 7 19 0 12 9 98 0 8 0 0 0 0 4 0 0
1940 to 1949 31 0 0 0 0 3 18 4 6 0 0 0 0 0 0 0
1939 or earlier 88 16 6 0 4 6 45 6 0 0 0 4 0 0 0 0

Purchase Price

Properties acquired by
purchase 1997 to 2001 (part)
392 21 20 4 5 50 240 11 16 0 0 7 0 9 5 5
Less than $20,000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
$20,000 to $39,999 4 0 0 0 0 0 0 4 0 0 0 0 0 0 0 0
$40,000 to $59,999 27 0 0 0 0 8 14 0 5 0 0 0 0 0 0 0
$60,000 to $79,999 47 0 5 0 0 4 34 0 4 0 0 0 0 0 0 0
$80,000 to $99,999 65 9 0 0 0 14 32 6 0 0 0 0 0 4 0 0
$100,000 to $124,999 72 0 0 4 0 12 39 0 3 0 0 0 0 5 5 5
$125,000 to $149,999 78 0 2 0 5 4 56 0 4 0 0 7 0 0 0 0
$150,000 to $174,999 38 3 4 0 0 0 31 1 0 0 0 0 0 0 0 0
$175,000 to $199,999 30 0 0 0 0 9 21 0 0 0 0 0 0 0 0 0
$200,000 to $249,999 16 5 0 0 0 0 10 0 0 0 0 0 0 0 0 0
$250,000 to $299,999 5 0 5 0 0 0 0 0 0 0 0 0 0 0 0 0
$300,000 to $499,999 7 0 4 0 0 0 4 0 0 0 0 0 0 0 0 0
$500,000 or more 3 3 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Median 118492 158519 165683 112500 137500 98708 125656 85369 76159 0 0 137500 0 103163 112500 112500
Mean 127581 211375 188847 105000 140000 106113 125676 76701 91224 0 0 136370 0 98544 110000 114000
Other properties 663 57 24 4 16 43 459 3 18 0 4 9 0 22 3 0

Value

Less than $20,000
6 0 0 0 0 0 6 0 0 0 0 0 0 0 0 0
$20,000 to $39,999 15 5 0 0 0 0 6 0 0 0 0 0 0 3 0 0
$40,000 to $59,999 69 0 6 0 6 7 43 4 0 0 0 4 0 0 0 0
$60,000 to $79,999 151 19 10 0 6 8 100 0 5 0 0 0 0 4 0 0
$80,000 to $99,999 153 5 0 0 0 16 121 0 7 0 4 0 0 0 0 0
$100,000 to $124,999 157 12 0 7 0 17 83 3 9 0 0 0 0 13 8 5
$125,000 to $149,999 154 0 5 0 5 24 102 6 4 0 0 7 0 0 0 0
$150,000 to $174,999 96 0 11 0 0 4 77 0 0 0 0 0 0 4 0 0
$175,000 to $199,999 74 12 0 0 0 7 50 1 4 0 0 0 0 0 0 0
$200,000 to $249,999 103 16 0 0 0 5 74 0 0 0 0 0 0 7 0 0
$250,000 to $299,999 34 0 5 0 0 3 21 0 5 0 0 0 0 0 0 0
$300,000 to $499,999 35 6 7 0 0 0 17 0 0 0 0 5 0 0 0 0
$500,000 or more 7 3 0 0 4 0 0 0 0 0 0 0 0 0 0 0
Median 121279 122425 152665 112500 75246 121058 122531 124184 114091 0 90000 139563 0 116474 112500 112500
Mean 136064 177666 171374 101615 159811 121973 131543 106257 135535 0 90000 188300 0 119186 112017 120000

Value of Capital Improvements

Properties with capital
improvements between 1998
and 2000
602 42 27 0 10 54 433 6 14 0 0 5 0 11 0 0
Less than $500 4 0 0 0 0 0 4 0 0 0 0 0 0 0 0 0
$500 to $999 11 0 0 0 0 0 11 0 0 0 0 0 0 0 0 0
$1,000 to $2,499 104 6 5 0 0 11 73 6 3 0 0 0 0 0 0 0
$2,500 to $4,999 167 6 0 0 6 23 126 0 7 0 0 0 0 0 0 0
$5,000 to $7,499 122 9 11 0 0 8 80 0 4 0 0 5 0 4 0 0
$7,500 to $9,999 27 3 0 0 0 0 20 0 0 0 0 0 0 4 0 0
$10,000 to $14,999 51 3 0 0 0 0 45 0 0 0 0 0 0 3 0 0
$15,000 to $19,999 35 7 2 0 0 0 26 0 0 0 0 0 0 0 0 0
$20,000 to $29,999 48 5 4 0 0 9 30 0 0 0 0 0 0 0 0 0
$30,000 or more 32 3 4 0 4 3 17 0 0 0 0 0 0 0 0 0
Median 5299 7528 6813 0 4590 4264 5087 1750 3871 0 0 6250 0 8626 0 0
Mean 9493 16584 20362 0 14449 8021 8572 2000 3699 0 0 7000 0 7920 0 0
Properties with no capital
improvements between 1998 and 2000
401 36 13 7 11 34 230 5 20 0 4 8 0 20 8 5
Capital improvements not
reported
52 0 5 0 0 4 36 3 0 0 0 3 0 0 0 0

Age Restrictions

Property located in subdivision
restricted to people age 55 or older
76 0 5 0 0 8 63 0 0 0 0 0 0 0 0 0
Property located in subdivision not
restricted to people age 55 or older
936 74 39 7 21 82 601 14 34 0 4 16 0 31 8 5
Not reported 42 4 0 0 0 3 35 0 0 0 0 0 0 0 0 0

Neighborhood Composition

Property located in subdivision or
neighborhood occupied predominantly by
people age 55 or older
93 0 0 0 0 0 74 4 11 0 4 0 0 0 0 0
Property located in subdivision or
neighborhood not occupied predominantly
by people age 55 or older
692 66 33 4 21 78 424 11 16 0 0 12 0 24 0 5
Don't know or not reported 269 12 11 4 0 15 201 0 7 0 0 4 0 7 8 0

OWNER CHARACTERISTICS


Age of Owner

Under 25
6 0 0 0 0 0 6 0 0 0 0 0 0 0 0 0
25 to 34 142 5 11 0 5 20 80 1 12 0 0 0 0 4 0 5
35 to 44 317 31 14 0 0 38 195 9 12 0 0 4 0 9 5 0
45 to 54 243 17 9 0 6 7 184 0 4 0 4 5 0 4 3 0
55 to 64 214 14 11 4 4 20 133 4 6 0 0 7 0 11 0 0
65 to 74 65 7 0 4 6 4 41 0 0 0 0 0 0 3 0 0
75 and over 20 0 0 0 0 0 20 0 0 0 0 0 0 0 0 0
Not reported 47 3 0 0 0 3 40 0 0 0 0 0 0 0 0 0
Median 47 46 43 65 54 41 48 41 39 0 50 54 0 53 43 30

Race of Owner

White alone
892 74 28 7 21 72 587 14 29 0 4 12 0 31 8 5
Black or African American alone 137 4 17 0 0 20 96 0 0 0 0 0 0 0 0 0
American Indian or Alaska Native alone 6 0 0 0 0 0 6 0 0 0 0 0 0 0 0 0
Asian alone 13 0 0 0 0 0 4 0 5 0 0 4 0 0 0 0
Native Hawaiian or Other Pacific
Islander alone
1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0
Two or more races 5 0 0 0 0 0 5 0 0 0 0 0 0 0 0 0

Sex of Owner

Male/Male and female co-owners
939 64 45 7 9 88 617 14 30 0 4 16 0 31 8 5
Female 115 14 0 0 12 4 82 0 4 0 0 0 0 0 0 0

Hispanic/Latino Origin

Hispanic/Latino owner(s) only
70 8 0 0 6 4 39 0 9 0 0 4 0 0 0 0
No Hispanic/Latino owner(s) 984 70 45 7 15 88 660 14 25 0 4 12 0 31 8 5

Veteran Status@1

Veteran
686 42 7 4 9 78 464 14 30 0 4 3 0 22 3 5
Active member of Reserves or National
Guard for at least 6 years
97 5 0 0 0 5 72 0 7 0 0 0 0 7 0 0
Persian Gulf War or after
(August 1990 to present)
214 6 4 0 5 41 130 5 16 0 0 0 0 8 0 0
Vietnam or after
(August 1964 to July 1990)
469 31 7 0 4 44 333 13 13 0 4 3 0 7 3 5
Korean conflict or after
(July 1950 to July 1964)
70 6 0 4 0 4 53 0 0 0 0 0 0 3 0 0
World War II or after
(September 1940 to June 1950)
20 4 0 0 0 0 16 0 0 0 0 0 0 0 0 0
Nonveteran 288 36 38 4 12 0 178 0 4 0 0 9 0 4 5 0
Not reported 81 0 0 0 0 14 57 0 0 0 0 4 0 5 0 0

Income

Less than $5,000
54 0 0 0 0 7 41 6 0 0 0 0 0 0 0 0
$5,000 to $9,999 14 0 0 0 0 0 14 0 0 0 0 0 0 0 0 0
$10,000 to $14,999 36 0 0 0 12 0 24 0 0 0 0 0 0 0 0 0
$15,000 to $19,999 16 3 0 0 0 0 10 0 0 0 0 0 0 4 0 0
$20,000 to $24,999 18 0 0 0 0 0 18 0 0 0 0 0 0 0 0 0
$25,000 to $29,999 37 5 0 0 0 0 28 0 0 0 4 0 0 0 0 0
$30,000 to $34,999 41 4 0 0 0 0 33 0 0 0 0 4 0 0 0 0
$35,000 to $39,999 68 5 0 0 0 17 41 0 5 0 0 0 0 0 0 0
$40,000 to $49,999 155 17 16 4 0 14 77 0 8 0 0 4 0 9 3 5
$50,000 to $59,999 112 6 5 4 0 13 66 0 18 0 0 0 0 0 0 0
$60,000 to $79,999 217 17 5 0 0 27 143 3 4 0 0 5 0 7 5 0
$80,000 to $99,999 143 8 5 0 5 7 104 5 0 0 0 3 0 4 0 0
$100,000 to $119,999 98 8 4 0 0 7 72 0 0 0 0 0 0 7 0 0
$120,000 or more 48 5 10 0 4 0 29 0 0 0 0 0 0 0 0 0
Median 58052 60384 65849 49736 14414 56661 59724 67028 52510 0 27500 61787 0 67717 63238 45000
Mean 63482 63723 87482 49744 64002 55545 64452 47169 50785 0 27000 59685 0 65283 57352 48000

Owned Home Previously

Previously owned home
524 41 24 4 15 34 349 0 22 0 0 12 0 15 3 5
Never owned home before 498 37 21 4 6 50 328 14 12 0 4 4 0 12 5 0
Not reported 33 0 0 0 0 7 22 0 0 0 0 0 0 4 0 0

MORTGAGE CHARACTERISTICS


Number of Mortgages

1 mortgage
748 49 36 4 17 58 499 7 30 0 4 16 0 19 5 5
2 mortgages 267 24 9 4 4 29 175 3 4 0 0 0 0 11 3 0
3 or more mortgages 39 5 0 0 0 5 25 4 0 0 0 0 0 0 0 0

Form of Debt of First Mortgage

Mortgage or deed of trust
1055 78 45 7 21 92 699 14 34 0 4 16 0 31 8 5
Contract to purchase 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Some other loan secured by this property 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

Type of First Mortgage Instrument

Fixed-rate, level-payment mortgage
943 62 40 7 15 92 647 14 23 0 4 9 0 24 0 5
Short-term with balloon payment mortgage 26 0 0 0 6 0 6 0 6 0 0 0 0 0 8 0
Reverse mortgage 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Adjustable rate mortgage (ARM) 78 12 4 0 0 0 42 0 5 0 0 7 0 7 0 0
Other 8 4 0 0 0 0 4 0 0 0 0 0 0 0 0 0

Method of Loan Application

By computer over the Internet or
by e-mail
7 0 0 0 0 0 7 0 0 0 0 0 0 0 0 0
By telephone or FAX 74 0 6 4 0 9 50 1 4 0 0 0 0 0 0 0
By regular mail 25 10 4 0 0 3 4 0 0 0 0 0 0 4 0 0
By personal visit 520 35 20 0 11 27 355 9 23 0 0 12 0 23 5 0
Through third party (such as real
estate agent or builder)
367 20 15 4 0 53 248 4 7 0 4 0 0 4 3 5
Some other way 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Not reported 36 6 0 0 10 0 16 0 0 0 0 4 0 0 0 0
Not available 26 7 0 0 0 0 19 0 0 0 0 0 0 0 0 0

Origin of First Mortgage

Mortgage made at time property acquired
839 49 40 7 21 77 556 14 20 0 4 11 0 27 8 5
Mortgage assumed at the time property
acquired
29 10 0 0 0 0 19 0 0 0 0 0 0 0 0 0
Mortgage placed later than acquisition of
property
186 19 5 0 0 15 125 0 14 0 0 5 0 4 0 0
Refinanced mortgage 182 15 5 0 0 15 125 0 14 0 0 5 0 4 0 0
Same lender 77 9 5 0 0 11 52 0 0 0 0 0 0 0 0 0
Different lender 105 6 0 0 0 4 73 0 14 0 0 5 0 4 0 0
Mortgage placed on property
owned free and clear of debt
4 4 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Not available 0 0 0 0 0 0 0 0 0 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
186 19 5 0 0 15 125 0 14 0 0 5 0 4 0 0
Obtain lower interest rate 124 15 0 0 0 15 77 0 14 0 0 0 0 4 0 0
Increase payment period for mortgage 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reduce payment period for mortgage 4 0 0 0 0 0 4 0 0 0 0 0 0 0 0 0
Renew or extend loan that had fallen
due, without increasing outstanding
balance
5 0 0 0 0 0 0 0 0 0 0 5 0 0 0 0
Receive cash or increase outstanding
balance of loan
31 4 5 0 0 0 23 0 0 0 0 0 0 0 0 0
Other reason 6 0 0 0 0 0 6 0 0 0 0 0 0 0 0 0
Not reported 15 0 0 0 0 0 15 0 0 0 0 0 0 0 0 0
Other properties 868 59 40 7 21 77 575 14 20 0 4 11 0 27 8 5
Not available 0 0 0 0 0 0 0 0 0 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
58 4 5 0 0 3 38 0 8 0 0 0 0 0 0 0
Less than $20,000 32 0 5 0 0 0 19 0 8 0 0 0 0 0 0 0
$20,000 to $39,999 10 0 0 0 0 0 10 0 0 0 0 0 0 0 0 0
$40,000 to $59,999 12 4 0 0 0 0 9 0 0 0 0 0 0 0 0 0
$60,000 to $79,999 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
$80,000 to $99,999 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
$100,000 to $124,999 3 0 0 0 0 3 0 0 0 0 0 0 0 0 0 0
$125,000 to $149,999 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
$150,000 to $174,999 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
$175,000 to $199,999 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
$200,000 to $249,999 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
$250,000 to $299,999 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
$300,000 or more 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Median 17869 50000 10000 0 0 112500 19438 0 10000 0 0 0 0 0 0 0
Mean 24625 42000 15000 0 0 105000 21824 0 1294 0 0 0 0 0 0 0
Properties that refinanced
and did not receive cash back
118 15 0 0 0 12 76 0 6 0 0 5 0 4 0 0
Properties that refinanced
and did not report if received
cash back
11 0 0 0 0 0 11 0 0 0 0 0 0 0 0 0
Properties that did not
refinance
868 59 40 7 21 77 575 14 20 0 4 11 0 27 8 5
Not available 0 0 0 0 0 0 0 0 0 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
58 4 5 0 0 3 38 0 8 0 0 0 0 0 0 0
For additions, improvements or repairs
to this property
34 0 5 0 0 3 22 0 4 0 0 0 0 0 0 0
To consolidate debts 24 0 0 0 0 0 20 0 4 0 0 0 0 0 0 0
For investment in other real estate 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
For other types of investments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
For educational or medical expenses 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
To start a business 10 4 0 0 0 0 6 0 0 0 0 0 0 0 0 0
To settle a divorce 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
To pay taxes 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
To purchase an automobile, truck, or
other vehicle
7 0 0 0 0 0 7 0 0 0 0 0 0 0 0 0
To purchase consumer product other than
automobile, truck, or other vehicle
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Not reported 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Properties that refinanced
and did not receive cash back
118 15 0 0 0 12 76 0 6 0 0 5 0 4 0 0
Properties that refinanced
and did not report if received
cash back
11 0 0 0 0 0 11 0 0 0 0 0 0 0 0 0
Properties that did not
refinance
868 59 40 7 21 77 575 14 20 0 4 11 0 27 8 5
Not available 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

Year First Mortgage Made or
Assumed

1999 to 2001 (part)
284 26 9 4 5 28 173 1 26 0 0 4 0 4 5 0
1997 and 1998 305 11 11 0 0 39 212 10 0 0 0 8 0 9 0 5
1995 and 1996 109 8 0 0 6 12 73 3 3 0 0 0 0 4 0 0
1990 to 1994 233 21 18 0 0 11 174 0 5 0 0 0 0 4 0 0
1985 to 1989 30 5 6 0 0 0 19 0 0 0 0 0 0 0 0 0
1980 to 1984 30 0 0 0 4 0 23 0 0 0 0 0 0 4 0 0
1979 or earlier 64 7 0 4 6 3 26 0 0 0 4 4 0 7 3 0

Traditional First Mortgage Loan

Less than $20,000
22 5 0 0 0 0 14 0 0 0 0 4 0 0 0 0
$20,000 to $29,999 51 15 0 4 0 0 25 0 0 0 4 0 0 3 0 0
$30,000 to $39,999 40 0 6 0 12 0 15 4 0 0 0 0 0 4 0 0
$40,000 to $49,999 57 0 5 0 0 7 45 0 0 0 0 0 0 0 0 0
$50,000 to $59,999 84 11 0 0 4 5 52 0 5 0 0 0 0 7 0 0
$60,000 to $79,999 202 6 10 0 0 21 150 0 4 0 0 0 0 4 8 0
$80,000 to $99,999 163 9 0 4 0 14 113 9 9 0 0 0 0 4 0 0
$100,000 to $149,999 265 18 8 0 5 37 166 0 11 0 0 7 0 9 0 5
$150,000 to $199,999 125 10 4 0 0 9 96 1 5 0 0 0 0 0 0 0
$200,000 to $249,999 24 0 9 0 0 0 16 0 0 0 0 0 0 0 0 0
$250,000 to $299,999 12 0 4 0 0 0 4 0 0 0 0 5 0 0 0 0
$300,000 or more 5 0 0 0 0 0 5 0 0 0 0 0 0 0 0 0
Not reported 3 3 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Median 88378 81060 109719 29736 38829 98920 88692 87059 98390 0 25000 129125 0 64101 70000 125000
Mean 101137 85939 117201 52645 63468 100215 104976 78530 101364 0 22950 146058 0 71700 66136 114000

Traditional First Mortgage Outstanding
Debt

Less than $10,000
54 4 0 4 0 0 36 0 0 0 4 4 0 3 0 0
$10,000 to $19,999 30 8 0 0 6 0 12 0 0 0 0 0 0 4 0 0
$20,000 to $29,999 36 12 6 0 0 3 15 0 0 0 0 0 0 0 0 0
$30,000 to $39,999 49 0 5 0 6 0 31 4 0 0 0 0 0 0 3 0
$40,000 to $49,999 82 4 0 0 4 4 63 0 0 0 0 0 0 7 0 0
$50,000 to $59,999 80 9 4 0 0 13 49 0 5 0 0 0 0 0 0 0
$60,000 to $79,999 187 0 5 0 0 16 140 3 13 0 0 0 0 4 5 0
$80,000 to $99,999 138 13 5 4 0 18 88 6 0 0 0 0 0 4 0 0
$100,000 to $149,999 248 14 2 0 5 30 159 1 16 0 0 7 0 9 0 5
$150,000 to $199,999 120 10 4 0 0 9 97 0 0 0 0 0 0 0 0 0
$200,000 to $249,999 23 0 12 0 0 0 5 0 0 0 0 5 0 0 0 0
$250,000 to $299,999 4 0 0 0 0 0 4 0 0 0 0 0 0 0 0 0
$300,000 or more 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0
Not reported 3 3 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Median 80973 80752 85627 9736 37691 90803 80935 79347 78860 0 5000 129125 0 64101 63238 125000
Mean 88906 76882 109298 41358 55960 91885 90729 73965 96109 0 7989 137562 0 62369 53909 108106

Total Mortgage Outstanding Debt

Less than $10,000
43 4 0 0 0 0 28 0 0 0 4 4 0 3 0 0
$10,000 to $19,999 25 3 0 0 6 0 16 0 0 0 0 0 0 0 0 0
$20,000 to $29,999 48 17 6 4 0 3 15 0 0 0 0 0 0 4 0 0
$30,000 to $39,999 36 0 5 0 6 0 25 0 0 0 0 0 0 0 0 0
$40,000 to $49,999 73 4 0 0 4 4 54 4 0 0 0 0 0 4 0 0
$50,000 to $59,999 71 9 4 0 0 9 44 0 5 0 0 0 0 0 0 0
$60,000 to $79,999 172 0 5 0 0 13 128 0 13 0 0 0 0 7 5 0
$80,000 to $99,999 145 13 5 4 0 18 88 9 0 0 0 0 0 4 3 0
$100,000 to $149,999 276 9 2 0 5 37 185 1 16 0 0 7 0 9 0 5
$150,000 to $199,999 112 10 4 0 0 9 89 0 0 0 0 0 0 0 0 0
$200,000 to $249,999 40 5 12 0 0 0 18 0 0 0 0 5 0 0 0 0
$250,000 to $299,999 7 0 0 0 0 0 7 0 0 0 0 0 0 0 0 0
$300,000 or more 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0
Not reported 3 3 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Median 87771 80752 85627 29736 37691 98859 88903 87059 78860 0 5001 129125 0 72051 76762 125000
Mean 94842 79645 110433 51509 55960 97458 97914 80211 98133 0 7989 137562 0 65427 74070 108106

Current Interest Rate on First Mortgage

Less than 6.0 percent
22 0 0 0 4 0 7 0 4 0 0 4 0 3 0 0
6.0 percent 9 6 0 0 0 0 3 0 0 0 0 0 0 0 0 0
6.1 to 6.4 percent 22 5 0 0 0 0 9 0 0 0 0 0 0 8 0 0
6.5 to 6.9 percent 123 0 4 0 0 11 95 0 10 0 0 0 0 4 0 0
7.0 percent 156 3 4 4 0 18 120 4 0 0 0 4 0 0 0 0
7.1 to 7.4 percent 83 7 0 0 0 27 29 1 10 0 0 0 0 9 0 0
7.5 to 7.9 percent 153 3 16 0 0 19 108 6 0 0 0 0 0 0 0 0
8.0 percent 117 0 0 0 5 4 108 0 0 0 0 0 0 0 0 0
8.1 to 8.4 percent 9 0 0 0 0 0 9 0 0 0 0 0 0 0 0 0
8.5 to 8.9 percent 69 9 0 0 6 0 47 3 0 0 4 0 0 0 0 0
9.0 percent 23 5 0 0 0 6 12 0 0 0 0 0 0 0 0 0
9.1 to 9.4 percent 31 9 11 0 0 0 11 0 0 0 0 0 0 0 0 0
9.5 to 9.9 percent 53 5 0 4 0 8 28 0 0 0 0 8 0 0 0 0
10.0 percent 7 0 0 0 0 0 7 0 0 0 0 0 0 0 0 0
10.1 to 10.4 percent 9 0 5 0 0 0 0 0 0 0 0 0 0 4 0 0
10.5 to 10.9 percent 23 0 0 0 0 0 23 0 0 0 0 0 0 0 0 0
11.0 percent 6 0 0 0 0 0 6 0 0 0 0 0 0 0 0 0
11.1 to 12.9 percent 53 8 0 0 0 0 26 0 6 0 0 0 0 0 8 5
13.0 percent 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
13.1 percent or more 85 18 5 0 6 0 49 0 4 0 0 0 0 4 0 0
Not reported 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Median 7.9 9.1 8.0 7.1 8.6 7.4 7.9 7.7 7.2 0.0 8.8 9.5 0.0 7.1 12.0 12.0

Points Paid as Interest on First
Mortgage

With mortgage placed
1026 68 45 7 21 92 680 14 34 0 4 16 0 31 8 5
No points 145 0 4 4 6 10 98 1 10 0 0 4 0 9 0 0
Less than 1 point 37 0 0 0 0 31 5 0 0 0 0 0 0 0 0 0
1 point 14 0 0 0 0 0 10 0 0 0 0 0 0 4 0 0
1.1 to 1.9 points 45 5 0 0 0 6 35 0 0 0 0 0 0 0 0 0
2 points 5 0 0 0 0 0 5 0 0 0 0 0 0 0 0 0
2.1 to 2.9 points 15 0 0 0 0 9 5 0 0 0 0 0 0 0 0 0
3 points 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
3.1 to 3.9 points 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
4 points 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
4.1 to 4.9 points 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
5 points 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
5.1 to 5.9 points 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
6 points or more 15 0 0 0 0 4 11 0 0 0 0 0 0 0 0 0
Not reported or don't know 750 63 41 4 15 32 511 13 24 0 4 12 0 18 8 5
With mortgage assumed 29 10 0 0 0 0 19 0 0 0 0 0 0 0 0 0

Type of Interest Rate Buydown

Properties with interest rate
buydown
39 6 0 0 0 0 34 0 0 0 0 0 0 0 0 0
Constant payment 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
3-2-1 buydown 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Not reported 39 6 0 0 0 0 34 0 0 0 0 0 0 0 0 0
Properties without interest
rate buydown
526 17 0 0 11 28 419 13 14 0 4 4 0 16 0 0
Not reported 489 55 45 7 10 65 247 1 20 0 0 12 0 14 8 5

Term of First Mortgage

Less than 5 years
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
5 years 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
6 to 9 years 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
10 years 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
11 to 14 years 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
15 years 44 6 0 0 0 0 34 4 0 0 0 0 0 0 0 0
16 to 19 years 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
20 years 3 0 0 0 0 3 0 0 0 0 0 0 0 0 0 0
21 to 24 years 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
25 years 4 0 0 0 0 0 0 0 0 0 0 0 0 4 0 0
26 to 29 years 4 4 0 0 0 0 0 0 0 0 0 0 0 0 0 0
30 years 1000 68 45 7 21 89 665 11 34 0 4 16 0 27 8 5
More than 30 years 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
No stated term 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Median 30 30 31 31 31 30 30 30 31 0 31 31 0 30 31 31

Unexpired Term of First Mortgage

Less than 5 years
22 7 0 4 0 0 8 0 0 0 0 0 0 3 0 0
5 to 9 years 72 0 0 0 6 3 45 0 0 0 4 4 0 7 3 0
10 to 14 years 60 11 0 0 4 0 42 4 0 0 0 0 0 0 0 0
15 to 19 years 33 0 11 0 0 3 15 0 0 0 0 0 0 4 0 0
20 to 24 years 267 21 13 0 6 19 196 3 8 0 0 0 0 0 0 0
25 to 29 years 539 35 15 4 5 67 358 7 10 0 0 12 0 16 5 5
30 or more years 61 4 5 0 0 0 36 0 16 0 0 0 0 0 0 0
No stated term or not computed 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Median 26 25 24 5 21 27 26 25 29 0 8 27 0 25 26 28

Servicer of First Mortgage

Commercial bank or trust company
122 61 0 0 0 0 58 0 3 0 0 0 0 0 0 0
Savings and loan association, federal
savings bank
91 0 45 0 0 0 30 3 0 0 0 4 0 9 0 0
Mutual savings bank 4 0 0 4 0 0 0 0 0 0 0 0 0 0 0 0
Life insurance company 10 0 0 0 10 0 0 0 0 0 0 0 0 0 0 0
Mortgage banker or mortgage company 730 17 0 4 11 92 584 11 11 0 0 0 0 0 0 0
Federally-sponsored secondary market
agency or pool
7 0 0 0 0 0 7 0 0 0 0 0 0 0 0 0
Conventional mortgage pool 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other federal agency 20 0 0 0 0 0 0 0 20 0 0 0 0 0 0 0
Real estate investment trust 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Pension or retirement fund 4 0 0 0 0 0 0 0 0 0 4 0 0 0 0 0
Credit union 32 0 0 0 0 0 20 0 0 0 0 12 0 0 0 0
Finance company 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
State or municipal government or
housing finance agency
22 0 0 0 0 0 0 0 0 0 0 0 0 22 0 0
Individual or individual's estate 8 0 0 0 0 0 0 0 0 0 0 0 0 0 8 0
Other 5 0 0 0 0 0 0 0 0 0 0 0 0 0 0 5

Holder's Acquisition of First Mortgage

Originated directly from borrower
272 17 19 4 9 29 134 14 23 0 0 4 0 15 0 5
Purchased from present servicer 374 27 25 0 6 60 229 0 11 0 0 12 0 4 0 0
Purchased from someone else 408 34 0 4 6 3 336 0 0 0 4 0 0 12 8 0
Not reported 0 0 0 0 0 0 0 0 0 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
834 59 40 7 21 74 543 14 20 0 4 11 0 27 8 5
Less than 40 percent 4 0 0 0 0 0 4 0 0 0 0 0 0 0 0 0
40 to 49 percent 14 6 0 0 0 0 8 0 0 0 0 0 0 0 0 0
50 to 59 percent 10 3 0 0 0 0 3 0 0 0 0 0 0 4 0 0
60 to 69 percent 41 5 4 0 4 0 20 0 0 0 0 0 0 3 5 0
70 to 79 percent 35 0 8 0 0 0 14 0 5 0 4 0 0 4 0 0
80 to 89 percent 81 10 8 7 6 0 50 0 0 0 0 0 0 0 0 0
90 to 94 percent 20 0 0 0 0 0 20 0 0 0 0 0 0 0 0 0
95 to 99 percent 90 17 0 0 6 13 48 4 3 0 0 0 0 0 0 0
100 percent or more 535 14 21 0 5 62 377 11 12 0 0 11 0 16 3 5
Not reported 3 3 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Median 22530 96 3597 85 95 39820 27983 31685 14830 0 75 50050 0 16351 68 50050
Other properties 221 19 5 0 0 18 156 0 14 0 0 5 0 4 0 0
Not available 0 0 0 0 0 0 0 0 0 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
834 59 40 7 21 74 543 14 20 0 4 11 0 27 8 5
Less than 40 percent 4 0 0 0 0 0 4 0 0 0 0 0 0 0 0 0
40 to 49 percent 16 6 0 0 0 0 3 4 3 0 0 0 0 0 0 0
50 to 59 percent 10 0 0 0 0 0 10 0 0 0 0 0 0 0 0 0
60 to 69 percent 218 16 10 4 4 21 147 0 5 0 0 0 0 7 5 0
70 to 79 percent 34 3 8 0 0 0 14 0 5 0 0 0 0 4 0 0
80 to 89 percent 47 3 8 4 6 3 24 0 0 0 0 0 0 0 0 0
90 to 94 percent 33 0 0 0 0 0 33 0 0 0 0 0 0 0 0 0
95 to 99 percent 80 17 0 0 0 9 42 0 3 0 0 4 0 5 0 0
100 percent or more 388 10 15 0 11 41 267 11 4 0 4 7 0 11 3 5
Not reported 3 3 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Median 98 89 83 70 576 1024 99 3230 74 0 5050 2564 0 98 68 5050
Other properties 221 19 5 0 0 18 156 0 14 0 0 5 0 4 0 0
Not available 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

First Mortgage Risk

Subprime loan
21 0 4 0 0 0 9 0 0 0 0 0 0 4 5 0
Not subprime loan 1033 78 41 7 21 92 690 14 34 0 4 16 0 27 3 5
Not reported 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

Total Outstanding Debt as a Percent
of Value

Less than 20 percent
62 7 0 0 4 0 39 0 0 0 4 4 0 3 0 0
20 to 29 percent 45 3 5 4 6 0 28 0 0 0 0 0 0 0 0 0
30 to 39 percent 39 6 0 0 0 0 22 0 0 0 0 0 0 11 0 0
40 to 49 percent 46 19 0 0 0 6 12 0 5 0 0 0 0 4 0 0
50 to 59 percent 76 0 10 0 0 3 63 0 0 0 0 0 0 0 0 0
60 to 69 percent 88 10 6 0 0 4 57 0 0 0 0 5 0 0 5 0
70 to 79 percent 206 5 15 0 6 27 123 9 13 0 0 0 0 4 3 0
80 to 89 percent 190 10 0 4 0 29 138 5 5 0 0 0 0 0 0 0
90 to 99 percent 174 5 4 0 5 13 116 0 11 0 0 7 0 9 0 5
100 percent or more 123 10 5 0 0 11 97 0 0 0 0 0 0 0 0 0
Not reported or not computed 6 3 0 0 0 0 3 0 0 0 0 0 0 0 0 0
Median 78 63 71 30 71 82 80 78 79 0 10 68 0 42 68 95

MORTGAGE PAYMENTS AND OTHER EXPENSES


Method of Payment of First Mortgage

Regular payments of interest
and/or principal
1043 74 45 7 17 92 695 14 34 0 4 16 0 31 8 5
Interest and principal 1043 74 45 7 17 92 695 14 34 0 4 16 0 31 8 5
Fully amortized 973 71 45 7 11 70 679 14 23 0 4 16 0 27 0 5
Not fully amortized 70 3 0 0 6 22 16 0 11 0 0 0 0 4 8 0
Interest only 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
No regular payments required 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Not reported 11 3 0 0 4 0 4 0 0 0 0 0 0 0 0 0

Items Included in First Mortgage
Payment@1

Regular monthly payments of
both interest and principal
1043 74 45 7 17 92 695 14 34 0 4 16 0 31 8 5
Real estate taxes 694 20 11 4 11 70 527 13 14 0 4 4 0 16 0 0
Property insurance 676 14 11 4 11 70 518 9 14 0 4 4 0 16 0 0
Mortgage insurance 42 0 6 0 0 0 36 0 0 0 0 0 0 0 0 0
Other 409 3 5 0 11 53 314 4 4 0 4 4 0 8 0 0
No items included or not reported 325 51 33 4 6 22 147 1 20 0 0 12 0 14 8 5
No regular payments of interest
and principal
11 3 0 0 4 0 4 0 0 0 0 0 0 0 0 0

Monthly Interest and Principal Payments
on First Mortgage

Monthly payments of interest
and/or principal
1043 74 45 7 17 92 695 14 34 0 4 16 0 31 8 5
Less than $100 11 0 0 0 0 0 4 0 0 0 0 4 0 3 0 0
$100 to $199 34 9 0 4 0 0 17 0 0 0 4 0 0 0 0 0
$200 to $299 37 0 6 0 6 0 21 0 0 0 0 0 0 4 0 0
$300 to $399 81 16 0 0 0 11 42 4 0 0 0 0 0 7 0 0
$400 to $499 98 3 4 0 0 9 77 0 5 0 0 0 0 0 0 0
$500 to $599 174 6 11 0 6 17 124 0 7 0 0 0 0 4 0 0
$600 to $699 112 0 0 0 0 13 82 9 0 0 0 0 0 0 8 0
$700 to $799 95 7 8 4 0 11 53 0 7 0 0 0 0 5 0 0
$800 to $899 69 4 0 0 0 15 40 0 6 0 0 4 0 0 0 0
$900 to $999 72 0 0 0 0 7 66 0 0 0 0 0 0 0 0 0
$1,000 to $1,249 154 16 4 0 5 3 108 1 5 0 0 3 0 4 0 5
$1,250 to $1,499 74 8 4 0 0 5 53 0 0 0 0 0 0 4 0 0
$1,500 or more 31 5 9 0 0 0 8 0 4 0 0 5 0 0 0 0
Median 677 743 719 197 544 664 677 635 774 0 150 1033 0 520 650 1125
Mean 751 748 892 428 578 700 755 579 819 0 176 1163 0 612 670 1126
No regular payments required 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Not reported 11 3 0 0 4 0 4 0 0 0 0 0 0 0 0 0

Current First Mortgage Payment Status

Regular monthly payments of
principal and/or interest
1055 78 45 7 21 92 699 14 34 0 4 16 0 31 8 5
Up-to-date, ahead of schedule, or
less than 90 days past due
707 23 11 4 11 65 541 13 14 0 4 4 0 16 0 0
Delinquent by 90 days or more 13 0 0 0 0 5 8 0 0 0 0 0 0 0 0 0
Legal proceedings have begun 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Legal proceedings have not begun 13 0 0 0 0 5 8 0 0 0 0 0 0 0 0 0
Not reported 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Not reported 335 55 33 4 10 22 151 1 20 0 0 12 0 14 8 5
Other properties 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

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

Monthly payments of interest
and/or principal
1043 74 45 7 17 92 695 14 34 0 4 16 0 31 8 5
Less than 5 percent 48 5 0 4 0 0 28 4 0 0 0 4 0 3 0 0
5 to 9 percent 150 10 8 0 0 16 104 0 0 0 4 0 0 7 0 0
10 to 14 percent 321 29 26 0 5 20 210 3 15 0 0 0 0 7 5 0
15 to 19 percent 245 19 5 4 0 42 154 1 9 0 0 3 0 4 3 0
20 to 24 percent 81 4 0 0 6 4 55 0 0 0 0 4 0 9 0 0
25 to 29 percent 57 0 0 0 0 5 42 0 5 0 0 0 0 0 0 5
30 to 34 percent 23 5 5 0 0 0 13 0 0 0 0 0 0 0 0 0
35 to 39 percent 14 0 0 0 0 0 9 0 0 0 0 5 0 0 0 0
40 to 49 percent 23 0 0 0 6 0 13 0 4 0 0 0 0 0 0 0
50 percent or more 33 3 0 0 0 0 30 0 0 0 0 0 0 0 0 0
Not reported or not computed 51 0 0 0 0 7 38 6 0 0 0 0 0 0 0 0
Median 15 14 13 5 23 16 15 10 16 0 8 21 0 13 14 28
No regular payments required 11 3 0 0 4 0 4 0 0 0 0 0 0 0 0 0

Real Estate Tax Per $1,000 Value

Acquired before 2000
967 75 36 7 16 82 652 13 22 0 4 16 0 31 8 5
Less than $5 267 35 4 0 0 9 186 13 0 0 0 11 0 3 5 0
$5 to $9 247 16 6 0 0 21 181 0 6 0 4 5 0 7 0 0
$10 to $14 215 13 6 7 6 29 133 0 5 0 0 0 0 7 3 5
$15 to $19 96 5 5 0 4 8 64 0 4 0 0 0 0 5 0 0
$20 to $24 76 0 10 0 6 3 46 0 7 0 0 0 0 4 0 0
$25 to $29 22 0 5 0 0 5 8 0 0 0 0 0 0 4 0 0
$30 to $39 43 5 0 0 0 6 32 0 0 0 0 0 0 0 0 0
$40 to $49 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
$50 to $59 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
$60 or more 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Not reported or not computed 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Median 9 6 17 13 18 12 9 3 15 0 8 4 0 13 4 13
Acquired 2000 and 2001 (part) 88 3 9 0 5 10 48 1 12 0 0 0 0 0 0 0

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