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Residential Finance Survey: 2001 - South
Table 3-2d. Type of First Mortgage, 2- to 4-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^^

Fixed rate mortgage
Total mortgaged
properties
Amortized Short term with
balloon payment
Adjustable rate
mortgage (ARM)
Other mortgage

2- to 4-housing-unit properties
with traditional first mortgage
112 91 8 13 0

PROPERTY CHARACTERISTICS


Manner of Acquisition

By purchase
111 91 8 12 0
Placed one new mortgage 98 80 8 9 0
Placed two or more new mortgages 8 6 0 2 0
Assumed mortgage(s) already on property 1 0 0 1 0
Assumed mortgage(s) already on property
and placed new mortgage
2 2 0 0 0
Borrowed using assets other than this
property as collateral
3 3 0 0 0
Paid all cash-no borrowing 0 0 0 0 0
Other manner 0 0 0 0 0
By inheritance or gift 0 0 0 0 0
By divorce 0 0 0 0 0
By some other manner 0 0 0 0 0
Not reported 0 0 0 0 0

Source of Downpayment@1

Properties purchased
1995 to 2001 (part)
60 46 5 9 0
Sale of previous home 17 15 0 2 0
Sale of other real property or other
investments
3 3 0 0 0
Savings 31 25 3 3 0
Borrowing from a retirement plan 0 0 0 0 0
Borrowing using assets other than this
property as collateral
0 0 0 0 0
Proceeds from an insurance policy 0 0 0 0 0
Payments in a lease-purchase agreement 0 0 0 0 0
From a state or local government source 0 0 0 0 0
From a non-profit organization 0 0 0 0 0
From parents or relatives 12 7 0 5 0
Other 0 0 0 0 0
No downpayment required 4 1 2 2 0
Not reported 2 2 0 0 0
Other properties 52 45 3 4 0
Not reported 0 0 0 0 0

Year Property Acquired

1999 to 2001 (part)
35 26 4 5 0
1997 and 1998 21 17 0 4 0
1995 and 1996 4 3 1 0 0
1990 to 1994 24 19 1 3 0
1985 to 1989 13 11 2 0 0
1980 to 1984 2 2 0 0 0
1975 to 1979 9 9 0 0 0
1970 to 1974 1 1 0 0 0
1969 or earlier 3 3 0 0 0

Property New or Previously Occupied When
Acquired

Acquired by purchase
111 91 8 12 0
New 16 11 0 5 0
Previously occupied by someone else 95 80 8 7 0
Converted from non-residential use 0 0 0 0 0
Other 0 0 0 0 0
Not reported 0 0 0 0 0
Other properties 0 0 0 0 0
Not reported 0 0 0 0 0

Year Structure Built

1999 to March 2000
9 7 2 0 0
1997 and 1998 7 3 0 4 0
1995 and 1996 1 1 0 0 0
1990 to 1994 8 7 0 2 0
1980 to 1989 21 18 0 3 0
1970 to 1979 20 16 3 0 0
1960 to 1969 6 2 2 2 0
1950 to 1959 12 12 0 0 0
1940 to 1949 9 8 1 0 0
1939 or earlier 18 16 0 3 0

Purchase Price Per Housing Unit@8

Properties acquired by
purchase 1997 to 2001 (part)
56 43 4 9 0
Less than $20,000 2 2 0 0 0
$20,000 to $39,999 23 14 2 7 0
$40,000 to $59,999 14 14 0 0 0
$60,000 to $79,999 9 9 0 0 0
$80,000 to $99,999 4 2 2 0 0
$100,000 to $124,999 4 2 0 2 0
$125,000 to $149,999 0 0 0 0 0
$150,000 to $174,999 0 0 0 0 0
$175,000 to $199,999 0 0 0 0 0
$200,000 to $249,999 0 0 0 0 0
$250,000 to $299,999 0 0 0 0 0
$300,000 to $499,999 0 0 0 0 0
$500,000 or more 0 0 0 0 0
Median 44869 48394 39562 32832 20000-
Mean 48281 48491 54007 44938 0
Other properties 56 48 5 4 0

Value

Less than $20,000
0 0 0 0 0
$20,000 to $39,999 6 4 2 0 0
$40,000 to $59,999 9 8 0 1 0
$60,000 to $79,999 15 13 2 0 0
$80,000 to $99,999 22 19 1 3 0
$100,000 to $124,999 11 10 1 0 0
$125,000 to $149,999 25 22 0 3 0
$150,000 to $174,999 6 4 0 2 0
$175,000 to $199,999 2 2 0 0 0
$200,000 to $249,999 4 4 0 0 0
$250,000 to $299,999 9 4 2 4 0
$300,000 to $499,999 2 2 0 0 0
$500,000 or more 0 0 0 0 0
Median 107444 104389 84099 145126 20000-
Mean 121163 115752 107795 169126 0

Value Per Housing Unit@8

Less than $20,000
6 4 2 0 0
$20,000 to $39,999 32 28 3 1 0
$40,000 to $59,999 38 29 1 7 0
$60,000 to $79,999 21 21 0 0 0
$80,000 to $99,999 1 1 0 0 0
$100,000 to $124,999 3 3 0 0 0
$125,000 to $149,999 9 4 2 4 0
$150,000 to $174,999 0 0 0 0 0
$175,000 to $199,999 2 2 0 0 0
$200,000 to $249,999 0 0 0 0 0
$250,000 to $299,999 0 0 0 0 0
$300,000 to $499,999 0 0 0 0 0
$500,000 or more 0 0 0 0 0
Median 49161 49063 33615 53945 20000-
Mean 55443 53559 49498 72997 0

Value of Capital Improvements

Properties with capital
improvements between 1998
and 2000
51 41 2 8 0
Less than $500 0 0 0 0 0
$500 to $999 0 0 0 0 0
$1,000 to $2,499 13 13 0 0 0
$2,500 to $4,999 5 3 0 2 0
$5,000 to $7,499 13 9 0 3 0
$7,500 to $9,999 5 5 0 0 0
$10,000 to $14,999 9 7 2 0 0
$15,000 to $19,999 0 0 0 0 0
$20,000 to $29,999 0 0 0 0 0
$30,000 or more 6 4 0 3 0
Median 6504 6234 12500 6604 500-
Mean 11252 9091 10000 22445 0
Properties with no capital
improvements between 1998 and 2000
43 36 5 3 0
Capital improvements not
reported
17 14 2 2 0

Value of Capital Improvements Per Unit

Properties with capital
improvements between 1998
and 2000
51 41 2 8 0
Less than $500 3 3 0 0 0
$500 to $999 5 5 0 0 0
$1,000 to $2,499 15 10 0 5 0
$2,500 to $4,999 14 14 0 0 0
$5,000 to $7,499 8 6 2 0 0
$7,500 to $9,999 1 1 0 0 0
$10,000 to $14,999 1 1 0 0 0
$15,000 to $19,999 0 0 0 0 0
$20,000 to $29,999 0 0 0 0 0
$30,000 or more 4 1 0 3 0
Median 3030 3078 6250 2166 500-
Mean 4959 3823 5000 10689 0
Properties with no capital
improvements between 1998 and 2000
43 36 5 3 0
Capital improvements not
reported
17 14 2 2 0

Age Restrictions

Property located in subdivision
restricted to people age 55 or older
0 0 0 0 0
Property located in subdivision not
restricted to people age 55 or older
106 87 6 13 0
Not reported 5 3 2 0 0

Neighborhood Composition

Property located in subdivision or
neighborhood occupied predominantly by
people age 55 or older
15 15 0 0 0
Property located in subdivision or
neighborhood not occupied predominantly
by people age 55 or older
74 56 6 11 0
Don't know or not reported 23 20 2 1 0

Type of Property Benefits@1

Government-sponsored below-market
interest rate mortgage loan
4 4 0 0 0
Other government grant or subsidy 0 0 0 0 0
Property tax relief 7 7 0 0 0
Subsidy from a non-profit corporation 0 0 0 0 0
None of the above benefits 81 64 6 11 0
Not reported 20 16 2 2 0

Source of Property Benefits@1

With property benefits
11 11 0 0 0
Federal government 4 4 0 0 0
State government 5 5 0 0 0
Local government 0 0 0 0 0
Non-profit corporation 0 0 0 0 0
Not reported 2 2 0 0 0
With no property benefits 81 64 6 11 0
Not reported 20 16 2 2 0

Reason for Benefits@1

With property benefits
11 11 0 0 0
Occupied by low- or moderate-income
individuals
2 2 0 0 0
Occupied by elderly or disabled
individuals
0 0 0 0 0
A historic structure 0 0 0 0 0
Located in a community development or
economic development area
0 0 0 0 0
Covered by a Homestead Exemption 7 7 0 0 0
Covered by a Community Land Trust 0 0 0 0 0
Covered by disaster relief 0 0 0 0 0
Other reason 2 2 0 0 0
Not reported 2 2 0 0 0
With no property benefits 81 64 6 11 0
Not reported 20 16 2 2 0

OWNER CHARACTERISTICS


Owner Status

1 owner
44 32 5 7 0
2 owners 68 59 3 6 0
3 or more owners 0 0 0 0 0

Age of Owner

Under 25
2 2 0 0 0
25 to 34 19 17 0 2 0
35 to 44 25 21 0 4 0
45 to 54 24 18 2 4 0
55 to 64 23 18 3 3 0
65 to 74 5 5 0 0 0
75 and over 5 3 2 0 0
Not reported 8 6 2 0 0
Median 47 45 60 47 25-

Race of Owner

White alone
99 78 8 13 0
Black or African American alone 13 13 0 0 0
American Indian or Alaska Native alone 0 0 0 0 0
Asian alone 0 0 0 0 0
Native Hawaiian or Other Pacific
Islander alone
0 0 0 0 0
Two or more races 0 0 0 0 0

Sex of Owner

Male/Male and female co-owners
80 67 6 6 0
Female 32 24 2 7 0

Hispanic/Latino Origin

Hispanic/Latino owner(s) only
24 16 1 7 0
No Hispanic/Latino owner(s) 87 75 7 6 0

Veteran Status@1

Veteran
13 11 1 1 0
Active member of Reserves or National
Guard for at least 6 years
0 0 0 0 0
Persian Gulf War or after
(August 1990 to present)
0 0 0 0 0
Vietnam or after
(August 1964 to July 1990)
9 6 1 1 0
Korean conflict or after
(July 1950 to July 1964)
4 4 0 0 0
World War II or after
(September 1940 to June 1950)
2 2 0 0 0
Nonveteran 92 76 5 11 0
Not reported 6 4 2 0 0

Income

Less than $5,000
11 9 0 2 0
$5,000 to $9,999 0 0 0 0 0
$10,000 to $14,999 3 3 0 0 0
$15,000 to $19,999 4 3 1 0 0
$20,000 to $24,999 11 6 4 2 0
$25,000 to $29,999 4 4 0 0 0
$30,000 to $34,999 5 5 0 0 0
$35,000 to $39,999 15 13 0 2 0
$40,000 to $49,999 13 11 0 2 0
$50,000 to $59,999 14 10 0 4 0
$60,000 to $79,999 11 11 0 0 0
$80,000 to $99,999 4 4 0 0 0
$100,000 to $119,999 10 6 2 2 0
$120,000 or more 7 5 1 0 0
Median 41148 41628 23631 44370 5000-
Mean 56841 58203 57646 46444 0

Owned Home Previously

Previously owned home
55 41 3 11 0
Never owned home before 47 42 3 2 0
Not reported 10 8 2 0 0

MORTGAGE CHARACTERISTICS


Method of Loan Application

By computer over the Internet or
by e-mail
0 0 0 0 0
By telephone or FAX 7 6 1 0 0
By regular mail 5 5 0 0 0
By personal visit 67 55 3 9 0
Through third party (such as real
estate agent or builder)
26 22 2 2 0
Some other way 0 0 0 0 0
Not reported 7 3 2 2 0
Not available 0 0 0 0 0

Origin of First Mortgage

Mortgage made at time property acquired
80 64 6 9 0
Mortgage assumed at the time property
acquired
3 2 0 1 0
Mortgage placed later than acquisition of
property
29 25 2 2 0
Refinanced mortgage 27 23 2 2 0
Same lender 7 7 0 0 0
Different lender 20 16 2 2 0
Mortgage placed on property
owned free and clear of debt
2 2 0 0 0
Not available 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
29 25 2 2 0
Obtain lower interest rate 20 16 2 2 0
Increase payment period for mortgage 0 0 0 0 0
Reduce payment period for mortgage 2 2 0 0 0
Renew or extend loan that had fallen
due, without increasing outstanding
balance
0 0 0 0 0
Receive cash or increase outstanding
balance of loan
7 7 0 0 0
Other reason 0 0 0 0 0
Not reported 0 0 0 0 0
Other properties 83 66 6 10 0
Not available 0 0 0 0 0

Cash Received From Refinancing or
Placing Mortgage on Property Owned
Free and Clear

Properties on which cash
received
11 9 0 2 0
Less than $20,000 7 5 0 2 0
$20,000 to $39,999 4 4 0 0 0
$40,000 to $59,999 0 0 0 0 0
$60,000 to $79,999 0 0 0 0 0
$80,000 to $99,999 0 0 0 0 0
$100,000 to $124,999 0 0 0 0 0
$125,000 to $149,999 0 0 0 0 0
$150,000 to $174,999 0 0 0 0 0
$175,000 to $199,999 0 0 0 0 0
$200,000 to $249,999 0 0 0 0 0
$250,000 to $299,999 0 0 0 0 0
$300,000 or more 0 0 0 0 0
Median 20000- 20000- 20000- 20000- 20000-
Mean 17266 19102 0 10000 0
Properties that refinanced
and did not receive cash back
15 13 2 0 0
Properties that refinanced
and did not report if received
cash back
3 3 0 0 0
Properties that did not
refinance
83 66 6 10 0
Not available 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
11 9 0 2 0
For additions, improvements or repairs
to this property
8 7 0 0 0
To consolidate debts 4 2 0 2 0
For investment in other real estate 0 0 0 0 0
For other types of investments 0 0 0 0 0
For educational or medical expenses 2 2 0 0 0
To start a business 0 0 0 0 0
To settle a divorce 2 2 0 0 0
To pay taxes 0 0 0 0 0
To purchase an automobile, truck, or
other vehicle
2 2 0 0 0
To purchase consumer product other than
automobile, truck, or other vehicle
0 0 0 0 0
Other 2 2 0 0 0
Not reported 0 0 0 0 0
Properties that refinanced
and did not receive cash back
15 13 2 0 0
Properties that refinanced
and did not report if received
cash back
3 3 0 0 0
Properties that did not
refinance
83 66 6 10 0
Not available 0 0 0 0 0

Year First Mortgage Made or
Assumed

1999 to 2001 (part)
45 34 4 8 0
1997 and 1998 27 25 0 2 0
1995 and 1996 8 5 3 0 0
1990 to 1994 22 17 1 3 0
1985 to 1989 4 4 0 0 0
1980 to 1984 4 4 0 0 0
1979 or earlier 2 2 0 0 0

First Mortgage Insurance Status

FHA-insured first mortgage
22 19 0 3 0
VA-guaranteed first mortgage 2 2 0 0 0
Rural Housing Service-Rural Development-
insured or -guaranteed first mortgage
1 1 0 0 0
Other federal, state, or local
government-insured or guaranteed
first mortgage
3 1 2 0 0
Insured conventional first mortgage 6 4 0 2 0
Uninsured conventional first mortgage 79 64 6 8 0
Not reported 0 0 0 0 0

Traditional First Mortgage Loan

Less than $20,000
4 4 0 0 0
$20,000 to $29,999 14 12 2 0 0
$30,000 to $39,999 8 8 0 0 0
$40,000 to $49,999 4 2 0 2 0
$50,000 to $59,999 17 13 3 1 0
$60,000 to $79,999 12 12 0 0 0
$80,000 to $99,999 25 20 1 5 0
$100,000 to $149,999 22 20 0 2 0
$150,000 to $199,999 4 1 2 2 0
$200,000 to $249,999 2 0 0 2 0
$250,000 to $299,999 0 0 0 0 0
$300,000 or more 0 0 0 0 0
Not reported 0 0 0 0 0
Median 75229 70821 56891 95746 20000-
Mean 76031 71910 74725 106738 0

Total Mortgage Loan

Less than $20,000
4 4 0 0 0
$20,000 to $29,999 14 12 2 0 0
$30,000 to $39,999 8 8 0 0 0
$40,000 to $49,999 4 2 0 2 0
$50,000 to $59,999 14 9 3 1 0
$60,000 to $79,999 10 10 0 0 0
$80,000 to $99,999 27 21 1 5 0
$100,000 to $149,999 21 20 0 2 0
$150,000 to $199,999 6 2 2 2 0
$200,000 to $249,999 2 0 0 2 0
$250,000 to $299,999 0 0 0 0 0
$300,000 or more 1 1 0 0 0
Not reported 0 0 0 0 0
Median 81340 78555 56891 95746 20000-
Mean 85625 83201 74725 110334 0

Traditional First Mortgage Outstanding
Debt

Less than $10,000
1 1 0 0 0
$10,000 to $19,999 5 5 0 0 0
$20,000 to $29,999 16 15 2 0 0
$30,000 to $39,999 8 8 0 0 0
$40,000 to $49,999 7 2 3 2 0
$50,000 to $59,999 11 10 0 1 0
$60,000 to $79,999 15 15 0 0 0
$80,000 to $99,999 25 18 1 6 0
$100,000 to $149,999 21 17 2 2 0
$150,000 to $199,999 2 0 0 2 0
$200,000 to $249,999 0 0 0 0 0
$250,000 to $299,999 0 0 0 0 0
$300,000 or more 0 0 0 0 0
Not reported 0 0 0 0 0
Median 68991 65590 46891 91591 10000-
Mean 69404 65588 63840 100703 0

Total Mortgage Outstanding Debt

Less than $10,000
1 1 0 0 0
$10,000 to $19,999 5 5 0 0 0
$20,000 to $29,999 16 15 2 0 0
$30,000 to $39,999 8 8 0 0 0
$40,000 to $49,999 7 2 3 2 0
$50,000 to $59,999 8 7 0 1 0
$60,000 to $79,999 15 15 0 0 0
$80,000 to $99,999 24 16 1 6 0
$100,000 to $149,999 22 18 2 2 0
$150,000 to $199,999 2 2 0 0 0
$200,000 to $249,999 2 0 0 2 0
$250,000 to $299,999 0 0 0 0 0
$300,000 or more 1 1 0 0 0
Not reported 0 0 0 0 0
Median 72920 69625 46891 91591 10000-
Mean 78930 76849 63840 103907 0

Current Interest Rate on First Mortgage

Less than 6.0 percent
36 29 5 2 0
6.0 percent 0 0 0 0 0
6.1 to 6.4 percent 1 1 0 0 0
6.5 to 6.9 percent 3 3 0 0 0
7.0 percent 13 11 0 2 0
7.1 to 7.4 percent 13 10 2 2 0
7.5 to 7.9 percent 4 4 0 0 0
8.0 percent 3 3 0 0 0
8.1 to 8.4 percent 0 0 0 0 0
8.5 to 8.9 percent 3 3 0 0 0
9.0 percent 0 0 0 0 0
9.1 to 9.4 percent 4 2 0 3 0
9.5 to 9.9 percent 0 0 0 0 0
10.0 percent 2 0 2 0 0
10.1 to 10.4 percent 3 3 0 0 0
10.5 to 10.9 percent 3 3 0 0 0
11.0 percent 6 6 0 0 0
11.1 to 12.9 percent 4 4 0 0 0
13.0 percent 0 0 0 0 0
13.1 percent or more 15 10 0 5 0
Not reported 0 0 0 0 0
Median 7.2 7.1 5.4 9.3 0.0

Type of Interest Rate Buydown

Properties with interest rate
buydown
2 2 0 0 0
Constant payment 0 0 0 0 0
3-2-1 buydown 0 0 0 0 0
Other 0 0 0 0 0
Not reported 2 2 0 0 0
Properties without interest
rate buydown
36 30 4 2 0
Not reported 74 58 5 11 0

Term of First Mortgage

Less than 5 years
4 0 4 0 0
5 years 0 0 0 0 0
6 to 9 years 0 0 0 0 0
10 years 3 3 0 0 0
11 to 14 years 0 0 0 0 0
15 years 8 7 0 0 0
16 to 19 years 0 0 0 0 0
20 years 1 1 0 0 0
21 to 24 years 0 0 0 0 0
25 years 0 0 0 0 0
26 to 29 years 0 0 0 0 0
30 years 38 34 0 4 0
More than 30 years 0 0 0 0 0
No stated term 58 46 5 8 0
Median 30 30 5- 30 5-

Unexpired Term of First Mortgage

Less than 5 years
4 1 4 0 0
5 to 9 years 3 3 0 0 0
10 to 14 years 8 7 0 0 0
15 to 19 years 1 1 0 0 0
20 to 24 years 5 3 0 2 0
25 to 29 years 24 21 0 3 0
30 or more years 9 9 0 0 0
No stated term or not computed 58 46 5 8 0
Median 26 26 5- 25 5-

Holder of First Mortgage

Commercial bank or trust company
25 19 3 3 0
Savings and loan association, federal
savings bank
4 2 0 2 0
Mutual savings bank 0 0 0 0 0
Life insurance company 0 0 0 0 0
Mortgage banker or mortgage company 6 6 0 0 0
Federally-sponsored secondary market
agency or pool
60 53 2 5 0
Conventional mortgage pool 4 4 0 0 0
Other federal agency 5 5 0 0 0
Real estate investment trust 0 0 0 0 0
Pension or retirement fund 0 0 0 0 0
Credit union 0 0 0 0 0
Finance company 3 0 3 0 0
State or municipal government or
housing finance agency
4 1 0 3 0
Individual or individual's estate 0 0 0 0 0
Other 1 1 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
83 66 6 10 0
Less than 40 percent 0 0 0 0 0
40 to 49 percent 2 2 0 0 0
50 to 59 percent 4 2 1 0 0
60 to 69 percent 12 8 2 2 0
70 to 79 percent 1 1 0 0 0
80 to 89 percent 12 9 2 2 0
90 to 94 percent 9 9 0 0 0
95 to 99 percent 8 7 0 1 0
100 percent or more 35 28 1 6 0
Not reported 0 0 0 0 0
Median 96 96 69 100+ 40-
Other properties 29 25 2 2 0
Not available 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
83 66 6 10 0
Less than 40 percent 2 2 0 0 0
40 to 49 percent 0 0 0 0 0
50 to 59 percent 3 0 3 0 0
60 to 69 percent 15 14 0 2 0
70 to 79 percent 3 2 0 2 0
80 to 89 percent 12 9 2 2 0
90 to 94 percent 10 10 0 0 0
95 to 99 percent 10 9 0 1 0
100 percent or more 26 20 1 4 0
Not reported 0 0 0 0 0
Median 92 93 80 96 40-
Other properties 29 25 2 2 0
Not available 0 0 0 0 0

First Mortgage Risk

Subprime loan
13 11 0 2 0
Not subprime loan 99 80 8 11 0
Not reported 0 0 0 0 0

Index Used to Adjust Interest Rate
on ARM

Properties with adjustable
rate first mortgage
13 0 0 13 0
Treasury security 2 0 0 2 0
Average cost of funds in bank district 0 0 0 0 0
National average cost of funds 0 0 0 0 0
OTS contract mortgage rate 0 0 0 0 0
Other method 0 0 0 0 0
No index used 0 0 0 0 0
Not reported 11 0 0 11 0
Other properties 99 91 8 0 0
Not reported 0 0 0 0 0

Frequency With Which Rate Can Be
Adjusted

Properties with adjustable
rate first mortgage
13 0 0 13 0
Monthly 0 0 0 0 0
Every 3 months 0 0 0 0 0
Every 6 months 0 0 0 0 0
Yearly 2 0 0 2 0
Every 3 years 0 0 0 0 0
Every 5 years 0 0 0 0 0
Other 0 0 0 0 0
Not reported 11 0 0 11 0
Other properties 99 91 8 0 0
Not reported 0 0 0 0 0

Caps on Interest Rate Per Adjustment
Period

Properties with adjustable
rate first mortgage
13 0 0 13 0
Less than 1 percent 0 0 0 0 0
1 percent 0 0 0 0 0
1.1 to 1.9 percent 0 0 0 0 0
2 percent 2 0 0 2 0
2.1 to 2.9 percent 0 0 0 0 0
3 percent 0 0 0 0 0
3.1 to 3.9 percent 0 0 0 0 0
4.0 percent or more 0 0 0 0 0
No caps 0 0 0 0 0
Not reported 11 0 0 11 0
Other properties 99 91 8 0 0
Not reported 0 0 0 0 0

Caps on Interest Rate Over Life of ARM

Properties with adjustable
rate first mortgage
13 0 0 13 0
Less than 1 percent 0 0 0 0 0
1 percent 0 0 0 0 0
1.1 to 1.9 percent 0 0 0 0 0
2 percent 2 0 0 2 0
2.1 to 2.9 percent 0 0 0 0 0
3 percent 0 0 0 0 0
3.1 to 3.9 percent 0 0 0 0 0
4.0 percent or more 0 0 0 0 0
No caps 0 0 0 0 0
Not reported 11 0 0 11 0
Other properties 99 91 8 0 0
Not reported 0 0 0 0 0

Interest Rate Changed Since
Mortgage Made

Properties with adjustable
rate first mortgage
13 0 0 13 0
Yes, rate has changed 2 0 0 2 0
No change since mortgage made 0 0 0 0 0
Not reported 11 0 0 11 0
Other properties 99 91 8 0 0
Not reported 0 0 0 0 0

Percentage of Margin Over Index on ARM

Properties with adjustable rate
first mortgage
13 0 0 13 0
Less than 1 percent 0 0 0 0 0
1 percent 0 0 0 0 0
1.1 to 1.9 percent 0 0 0 0 0
2 percent 0 0 0 0 0
2.1 to 2.9 percent 0 0 0 0 0
3 percent 2 0 0 2 0
3.1 to 3.9 percent 0 0 0 0 0
4 percent 0 0 0 0 0
4.1 to 4.9 percent 0 0 0 0 0
5 percent or more 0 0 0 0 0
Not reported 11 0 0 11 0
Median 3.0 0.0 0.0 3.0 0.0
Other properties 99 91 8 0 0
Not reported 0 0 0 0 0

ARM Convertible to Fixed Rate Mortgage

Properties with adjustable rate
first mortgage
13 0 0 13 0
Can be converted 0 0 0 0 0
Cannot be converted 2 0 0 2 0
Not reported 11 0 0 11 0
Other properties 99 91 8 0 0
Not reported 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
0 0 0 0 0
Payments can change monthly 0 0 0 0 0
Payments can change every three months 0 0 0 0 0
Payments can change every six months 0 0 0 0 0
Payments can change yearly 0 0 0 0 0
Payments can change every 3 years 0 0 0 0 0
Payments can change every 5 years 0 0 0 0 0
Other 0 0 0 0 0
Not reported 0 0 0 0 0
Monthly payments cannot
change
101 91 8 2 0
Not reported 11 0 0 11 0

First Mortgage Allows for Negative
Amortization

Monthly payments can change
(other than change in interest
rate)
0 0 0 0 0
Yes, unrestricted negative amortization 0 0 0 0 0
Yes, restricted negative amortization 0 0 0 0 0
No negative amortization allowed 0 0 0 0 0
Not reported 0 0 0 0 0
Monthly payments cannot change 101 91 8 2 0
Not reported 11 0 0 11 0

MORTGAGE PAYMENTS AND OTHER EXPENSES


Method of Payment of First Mortgage

Regular payments of interest
and/or principal
106 89 6 11 0
Interest and principal 106 89 6 11 0
Fully amortized 96 85 0 11 0
Not fully amortized 11 4 6 0 0
Interest only 0 0 0 0 0
No regular payments required 2 0 2 0 0
Not reported 3 2 0 2 0

Items Included in First Mortgage
Payment@1

Regular monthly payments of
both interest and principal
106 89 6 11 0
Real estate taxes 33 32 0 2 0
Property insurance 29 28 0 2 0
Mortgage insurance 9 9 0 0 0
Other 12 12 0 0 0
No items included or not reported 73 57 6 9 0
No regular payments of interest
and principal
5 2 2 2 0

Monthly Interest and Principal Payments
on First Mortgage

Monthly payments of interest
and/or principal
106 89 6 11 0
Less than $100 0 0 0 0 0
$100 to $199 6 6 0 0 0
$200 to $299 9 9 0 0 0
$300 to $399 15 12 3 0 0
$400 to $499 15 11 3 1 0
$500 to $599 6 6 0 0 0
$600 to $699 21 21 0 0 0
$700 to $799 7 5 0 3 0
$800 to $899 5 5 0 0 0
$900 to $999 11 9 0 2 0
$1,000 to $1,249 6 3 0 4 0
$1,250 to $1,499 5 3 0 2 0
$1,500 or more 0 0 0 0 0
Median 609 604 401 991 100-
Mean 608 576 409 991 0
No regular payments required 2 0 2 0 0
Not reported 3 2 0 2 0

Current First Mortgage Payment Status

Regular monthly payments of
principal and/or interest
110 91 6 13 0
Up-to-date, ahead of schedule, or
less than 90 days past due
40 37 2 2 0
Delinquent by 90 days or more 0 0 0 0 0
Legal proceedings have begun 0 0 0 0 0
Legal proceedings have not begun 0 0 0 0 0
Not reported 0 0 0 0 0
Not reported 69 54 5 11 0
Other properties 2 0 2 0 0

Monthly Interest and Principal Payments
on Total Mortgages

Regular monthly payments of
interest and/or principal
106 89 6 11 0
Less than $100 0 0 0 0 0
$100 to $199 6 6 0 0 0
$200 to $299 9 9 0 0 0
$300 to $399 13 10 3 0 0
$400 to $499 15 11 3 1 0
$500 to $599 6 6 0 0 0
$600 to $699 20 20 0 0 0
$700 to $799 8 5 0 3 0
$800 to $899 4 4 0 0 0
$900 to $999 11 9 0 2 0
$1,000 to $1,249 5 2 0 4 0
$1,250 to $1,499 7 6 0 2 0
$1,500 or more 1 1 0 0 0
Median 618 612 401 991 100-
Mean 835 847 409 991 0
No regular monthly payments
required
5 2 2 2 0

Interest and Principal Payments on
Total Mortgages as Percent of Income

Regular monthly payments of
interest and/or principal
106 89 6 11 0
Less than 5 percent 4 2 1 0 0
5 to 9 percent 18 18 0 0 0
10 to 14 percent 17 16 0 1 0
15 to 19 percent 27 20 2 4 0
20 to 24 percent 7 7 0 0 0
25 to 29 percent 11 6 3 2 0
30 to 34 percent 0 0 0 0 0
35 to 39 percent 5 3 0 2 0
40 to 49 percent 4 4 0 0 0
50 percent or more 3 1 0 2 0
Not reported or not computed 9 9 0 0 0
Median 16.7 15.7 25.1 25.2 4.5-
No regular monthly payments
required
5 2 2 2 0

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