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Residential Finance Survey: 2001 - Northeast
Table 4-2b. Type of First Mortgage, 1-Housing-Unit Rental and Vacant 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. Monthly Rental Receipts, Rental Receipts as Percent of Value, Rental Vacancy Losses as Percent
of Potential Receipts, Interest and Principal Payments on First Mortgage as Percent of Rental Receipts and Real
Estate Tax as Percent of Rental Receipts acquired before 2000 exclude properties with less than half of units in
rental market during all of year preceding survey and cooperatively owned apartments^^

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

1-housing-unit properties with
traditional first mortgage
474 346 5 116 8

PROPERTY CHARACTERISTICS


Manner of Acquisition

By purchase
408 307 5 88 8
Placed one new mortgage 353 266 5 75 8
Placed two or more new mortgages 0 0 0 0 0
Assumed mortgage(s) already on property 28 21 0 7 0
Assumed mortgage(s) already on property
and placed new mortgage
0 0 0 0 0
Borrowed using assets other than this
property as collateral
20 14 0 6 0
Paid all cash-no borrowing 6 6 0 0 0
Other manner 0 0 0 0 0
By inheritance or gift 23 7 0 16 0
By divorce 0 0 0 0 0
By tax free exchange of
other property
0 0 0 0 0
By foreclosure or assignment 6 0 0 6 0
By some other manner 0 0 0 0 0
Not reported 38 33 0 5 0

Source of Downpayment@1

Properties purchased
1995 to 2001 (part)
227 177 0 43 8
Sale of stock or other partnership
shares for this project
6 6 0 0 0
Sale of previously owned stocks,
shares, or other securities
23 14 0 9 0
Sale of land or other real estate 21 21 0 0 0
Owner's cash, bank deposits,
share accounts, or bonds
101 80 0 21 0
Borrowing from a retirement plan 17 17 0 0 0
Borrowing using assets other than this
property as collateral
45 20 0 17 8
Proceeds from an insurance policy 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
Proceeds from sale of tax credits 0 0 0 0 0
From parents or relatives 0 0 0 0 0
Other cash source 0 0 0 0 0
Non-cash source 0 0 0 0 0
No downpayment required 11 6 0 4 0
Not reported 13 13 0 0 0
Other properties 209 137 5 67 0
Not reported 38 33 0 5 0

Year Property Acquired

1999 to 2001 (part)
128 106 0 22 0
1997 and 1998 107 68 0 31 8
1995 and 1996 47 42 0 5 0
1990 to 1994 80 58 4 18 0
1985 to 1989 52 40 0 12 0
1980 to 1984 18 12 1 5 0
1975 to 1979 21 7 0 14 0
1970 to 1974 7 7 0 0 0
1969 or earlier 14 6 0 8 0

Property New or Previously Owned When
Acquired

Acquired by purchase
408 307 5 88 8
New 47 20 0 27 0
Previously owned 361 287 5 61 8
As residential property 354 281 5 61 8
Converted from nonresidential use 6 6 0 0 0
Other 0 0 0 0 0
Not reported 0 0 0 0 0
Other properties 28 7 0 22 0
Not reported 38 33 0 5 0

Year Structure Built

1999 to March 2000
23 23 0 0 0
1997 and 1998 8 8 0 0 0
1995 and 1996 5 0 0 5 0
1990 to 1994 13 7 0 6 0
1980 to 1989 50 25 0 17 8
1970 to 1979 28 13 0 15 0
1960 to 1969 53 44 0 9 0
1950 to 1959 109 101 0 8 0
1940 to 1949 45 38 1 6 0
1939 or earlier 141 88 4 49 0

Purchase Price

Properties acquired by
purchase 1997 to 2001 (part)
188 138 0 43 8
Less than $20,000 13 6 0 6 0
$20,000 to $39,999 19 2 0 16 0
$40,000 to $59,999 14 14 0 0 0
$60,000 to $79,999 37 23 0 7 8
$80,000 to $99,999 20 20 0 0 0
$100,000 to $124,999 22 22 0 0 0
$125,000 to $149,999 30 26 0 4 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 21 11 0 9 0
$250,000 to $299,999 8 8 0 0 0
$300,000 to $499,999 0 0 0 0 0
$500,000 or more 5 5 0 0 0
Median 91969 104521 0 38469 70000
Mean 113619 124832 0 83849 79000
Other properties 286 209 5 73 0

Value

Less than $20,000
0 0 0 0 0
$20,000 to $39,999 49 43 0 6 0
$40,000 to $59,999 69 43 0 26 0
$60,000 to $79,999 40 34 0 7 0
$80,000 to $99,999 63 49 0 6 8
$100,000 to $124,999 62 44 0 18 0
$125,000 to $149,999 18 13 0 5 0
$150,000 to $174,999 52 48 0 4 0
$175,000 to $199,999 24 8 0 16 0
$200,000 to $249,999 42 16 4 22 0
$250,000 to $299,999 1 0 1 0 0
$300,000 to $499,999 30 30 0 0 0
$500,000 or more 24 19 0 5 0
Median 106369 102923 228765 117120 90000
Mean 150444 151468 233508 148554 84000

Value of Capital Improvements

Properties with capital
improvements between 1998
and 2000
251 183 4 64 0
Less than $500 8 8 0 0 0
$500 to $999 0 0 0 0 0
$1,000 to $2,499 61 50 0 12 0
$2,500 to $4,999 33 20 0 13 0
$5,000 to $7,499 58 30 4 24 0
$7,500 to $9,999 4 0 0 4 0
$10,000 to $14,999 25 18 0 6 0
$15,000 to $19,999 22 22 0 0 0
$20,000 to $29,999 6 6 0 0 0
$30,000 or more 33 28 0 5 0
Median 6000 6152 6250 5765 0
Mean 15805 18324 5000 9314 0
Properties with no capital
improvements between 1998 and 2000
179 145 1 25 8
Capital improvements not
reported
45 19 0 26 0

Monthly Rental Receipts

Acquired before 2000
407 301 5 94 8
Less than $100 5 5 0 0 0
$100 to $199 12 12 0 0 0
$200 to $299 15 15 0 0 0
$300 to $399 22 7 0 15 0
$400 to $499 62 45 0 17 0
$500 to $599 56 40 0 8 8
$600 to $799 56 45 0 12 0
$800 to $999 21 14 0 7 0
$1000 or more 123 93 5 25 0
No rental receipts 34 25 0 10 0
Median 651 662 5000500 635 550
Mean 7127 8939 8321 1823 500
Acquired 2000 and 2001 (part) 67 46 0 22 0

Rental Receipts as Percent of Value@8

Acquired before 2000
407 301 5 94 8
Less than 5 percent 42 29 0 13 0
5 to 9 percent 88 66 0 14 8
10 to 14 percent 190 141 4 45 0
15 to 19 percent 15 9 0 6 0
20 to 24 percent 18 18 0 0 0
25 to 29 percent 2 2 0 0 0
30 to 39 percent 5 0 0 5 0
40 percent or more 8 7 1 0 0
Median 11 11 13 12 8
Acquired 2000 and 2001 (part) 67 46 0 22 0

Rental Vacancy Losses as Percent of
Potential Receipts

Acquired before 2000
407 301 5 94 8
Less than 1.0 percent 131 90 0 41 0
1.0 to 2.9 percent 5 0 0 5 0
3.0 to 4.9 percent 0 0 0 0 0
5.0 to 6.9 percent 0 0 0 0 0
7.0 to 8.9 percent 7 7 0 0 0
9.0 to 10.9 percent 1 0 1 0 0
11.0 to 12.9 percent 0 0 0 0 0
13.0 to 14.9 percent 0 0 0 0 0
15.0 percent or more 30 30 0 0 0
Not reported or not computed 234 174 4 48 8
Median 0.7 0.7 10.0 0.6 0.0
Acquired 2000 and 2001 (part) 67 46 0 22 0

Age Restrictions

Property restricted to people
age 55 or older
57 41 0 16 0
Property not restricted to people
age 55 or older
397 298 5 87 8
Not reported 20 7 0 13 0

Type of Property Benefits@1

Government-sponsored below-market
interest rate mortgage loan
0 0 0 0 0
Government rental subsidy 6 6 0 0 0
Government grant 0 0 0 0 0
Property tax relief 20 14 0 5 0
Federal income tax credit for
low-income, old or historic properties
0 0 0 0 0
Accelerated federal income tax
depreciation for low- and
moderate-income properties
0 0 0 0 0
Subsidy from a non-profit corporation 8 0 0 0 8
None of the above benefits 416 307 4 105 0
Not reported 25 19 1 5 0

Source of Property Benefits@1

With property benefits
34 21 0 5 8
Federal government 0 0 0 0 0
State government 21 21 0 0 0
Local government 0 0 0 0 0
Non-profit corporation 8 0 0 0 8
Not reported 5 0 0 5 0
With no property benefits 416 307 4 105 0
Not reported 25 19 1 5 0

Reason for Benefits@1

With property benefits
34 21 0 5 8
Occupied by low- or moderate-income
individuals
6 6 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 0 0 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 17 9 0 0 8
Not reported 11 5 0 5 0
With no property benefits 416 307 4 105 0
Not reported 25 19 1 5 0

OWNER CHARACTERISTICS


Type of Owner

Individual investor(s)
397 294 4 99 0
Limited partnership 24 23 1 0 0
Joint venture 0 0 0 0 0
General partnership 6 6 0 0 0
Life insurance company 0 0 0 0 0
Depository institution 0 0 0 0 0
Public real estate investment trust 0 0 0 0 0
Private real estate investment trust 0 0 0 0 0
Corporation - other than real estate
investment trust
27 16 0 11 0
Housing cooperative organization 0 0 0 0 0
Non-profit or church-related institution 8 0 0 0 8
Pension fund 0 0 0 0 0
Fraternal organization 0 0 0 0 0
Other 12 6 0 5 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 63 43 0 13 8
By regular mail 10 10 0 0 0
By personal visit 270 204 4 62 0
Through third party (such as real
estate agent or builder)
55 46 1 8 0
Some other way 9 0 0 9 0
Not reported 37 14 0 24 0
Not available 29 29 0 0 0

Origin of First Mortgage

Mortgage made at time property acquired
382 274 5 95 8
Mortgage assumed at the time property
acquired
29 29 0 0 0
Mortgage placed later than acquisition of
property
63 43 0 20 0
Refinanced mortgage 44 24 0 20 0
Same lender 12 0 0 12 0
Different lender 31 24 0 8 0
Mortgage placed on property
owned free and clear of debt
20 20 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
63 43 0 20 0
Obtain lower interest rate 18 13 0 5 0
Increase payment period for mortgage 0 0 0 0 0
Reduce payment period for mortgage 0 0 0 0 0
Renew or extend loan that had fallen
due, without increasing outstanding
balance
10 10 0 0 0
Receive cash or increase outstanding
balance of loan
21 13 0 7 0
Other reason 14 6 0 8 0
Not reported 0 0 0 0 0
Other properties 411 303 5 95 8
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
34 14 0 20 0
Less than $20,000 7 7 0 0 0
$20,000 to $39,999 0 0 0 0 0
$40,000 to $59,999 20 7 0 13 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 7 0 0 7 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 50207 40782 0 55489 0
Mean 47146 23212 0 63787 0
Properties that refinanced
and did not receive cash back
23 23 0 0 0
Properties that refinanced
and did not report if received
cash back
6 6 0 0 0
Properties that did not
refinance
411 303 5 95 8
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
34 14 0 20 0
For additions, improvements or repairs
to this property
12 7 0 5 0
To consolidate debts 0 0 0 0 0
For investment in other real estate 14 7 0 7 0
For other types of investments 0 0 0 0 0
For educational or medical expenses 0 0 0 0 0
To start a business 0 0 0 0 0
To settle a divorce 0 0 0 0 0
To pay taxes 0 0 0 0 0
To purchase an automobile, truck, or
other vehicle
0 0 0 0 0
To purchase consumer product other than
automobile, truck, or other vehicle
0 0 0 0 0
Other 8 0 0 8 0
Not reported 0 0 0 0 0
Properties that refinanced
and did not receive cash back
23 23 0 0 0
Properties that refinanced
and did not report if received
cash back
6 6 0 0 0
Properties that did not
refinance
411 303 5 95 8
Not available 0 0 0 0 0

Year First Mortgage Made or
Assumed

1999 to 2001 (part)
163 136 0 27 0
1997 and 1998 102 63 0 31 8
1995 and 1996 54 49 0 5 0
1990 to 1994 75 58 4 13 0
1985 to 1989 53 25 0 27 0
1980 to 1984 15 9 1 5 0
1979 or earlier 13 7 0 6 0

First Mortgage Insurance Status

FHA-insured first mortgage
45 39 0 5 0
VA-guaranteed first mortgage 0 0 0 0 0
Rural Housing Service-Rural Development-
insured or -guaranteed first mortgage
0 0 0 0 0
Other federal, state, or local
government-insured or guaranteed
first mortgage
9 9 0 0 0
Insured conventional first mortgage 73 67 0 6 0
Uninsured conventional first mortgage 348 231 5 104 8
Not reported 0 0 0 0 0

Traditional First Mortgage Loan

Less than $20,000
43 36 0 6 0
$20,000 to $29,999 25 19 1 5 0
$30,000 to $39,999 42 25 0 16 0
$40,000 to $49,999 65 55 0 10 0
$50,000 to $59,999 52 32 0 12 8
$60,000 to $79,999 39 32 0 7 0
$80,000 to $99,999 25 13 4 8 0
$100,000 to $149,999 104 71 0 34 0
$150,000 to $199,999 38 33 0 5 0
$200,000 to $249,999 25 18 0 7 0
$250,000 to $299,999 6 0 0 6 0
$300,000 or more 3 3 0 0 0
Not reported 8 8 0 0 0
Median 63657 60599 88494 83691 55000
Mean 86091 83412 77795 96062 59500

Total Mortgage Loan

Less than $20,000
37 31 0 6 0
$20,000 to $29,999 31 25 1 5 0
$30,000 to $39,999 42 25 0 16 0
$40,000 to $49,999 57 47 0 10 0
$50,000 to $59,999 54 41 0 5 8
$60,000 to $79,999 46 32 0 13 0
$80,000 to $99,999 25 13 4 8 0
$100,000 to $149,999 104 71 0 34 0
$150,000 to $199,999 38 33 0 5 0
$200,000 to $249,999 25 18 0 7 0
$250,000 to $299,999 6 0 0 6 0
$300,000 or more 3 3 0 0 0
Not reported 8 8 0 0 0
Median 65958 60599 88494 83691 55000
Mean 86552 83941 77795 96372 59500

Traditional First Mortgage Outstanding
Debt

Less than $10,000
19 14 0 5 0
$10,000 to $19,999 50 38 1 12 0
$20,000 to $29,999 23 16 0 6 0
$30,000 to $39,999 64 44 0 20 0
$40,000 to $49,999 57 50 0 0 8
$50,000 to $59,999 19 6 0 13 0
$60,000 to $79,999 65 45 4 16 0
$80,000 to $99,999 62 53 0 9 0
$100,000 to $149,999 60 44 0 16 0
$150,000 to $199,999 28 10 0 18 0
$200,000 to $249,999 15 15 0 0 0
$250,000 to $299,999 3 3 0 0 0
$300,000 or more 0 0 0 0 0
Not reported 8 8 0 0 0
Median 60064 60430 68494 61832 45000
Mean 73777 73027 68344 78058 46193

Total Mortgage Outstanding Debt

Less than $10,000
14 8 0 5 0
$10,000 to $19,999 50 38 1 12 0
$20,000 to $29,999 28 22 0 6 0
$30,000 to $39,999 55 36 0 20 0
$40,000 to $49,999 66 58 0 0 8
$50,000 to $59,999 19 6 0 13 0
$60,000 to $79,999 65 45 4 16 0
$80,000 to $99,999 62 53 0 9 0
$100,000 to $149,999 60 44 0 16 0
$150,000 to $199,999 28 10 0 18 0
$200,000 to $249,999 15 15 0 0 0
$250,000 to $299,999 3 3 0 0 0
$300,000 or more 0 0 0 0 0
Not reported 8 8 0 0 0
Median 60064 60430 68494 61832 45000
Mean 72952 71811 68344 78368 46193

Current Interest Rate on First Mortgage

Less than 6.0 percent
168 115 5 48 0
6.0 percent 0 0 0 0 0
6.1 to 6.4 percent 8 0 0 8 0
6.5 to 6.9 percent 34 21 0 5 8
7.0 percent 29 14 0 15 0
7.1 to 7.4 percent 9 9 0 0 0
7.5 to 7.9 percent 37 37 0 0 0
8.0 percent 11 11 0 0 0
8.1 to 8.4 percent 10 10 0 0 0
8.5 to 8.9 percent 49 25 0 24 0
9.0 percent 0 0 0 0 0
9.1 to 9.4 percent 8 3 0 4 0
9.5 to 9.9 percent 0 0 0 0 0
10.0 percent 0 0 0 0 0
10.1 to 10.4 percent 6 6 0 0 0
10.5 to 10.9 percent 0 0 0 0 0
11.0 percent 12 6 0 6 0
11.1 to 12.9 percent 26 20 0 5 0
13.0 percent 0 0 0 0 0
13.1 percent or more 69 69 0 0 0
Not reported 0 0 0 0 0
Median 7.1 7.7 3.0 6.7 6.8

Type of Interest Rate Buydown

Properties with interest rate
buydown
0 0 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 0 0 0 0 0
Properties without interest
rate buydown
210 135 0 67 8
Not reported 265 211 5 49 0

Term of First Mortgage

Less than 5 years
6 0 0 6 0
5 years 0 0 0 0 0
6 to 9 years 0 0 0 0 0
10 years 13 7 0 6 0
11 to 14 years 0 0 0 0 0
15 years 74 50 0 16 8
16 to 19 years 0 0 0 0 0
20 years 13 13 0 0 0
21 to 24 years 0 0 0 0 0
25 years 8 0 0 8 0
26 to 29 years 0 0 0 0 0
30 years 142 107 0 36 0
More than 30 years 0 0 0 0 0
No stated term 219 170 5 44 0
Median 30 30 0 26 16

Unexpired Term of First Mortgage

Less than 5 years
8 2 0 6 0
5 to 9 years 16 4 0 12 0
10 to 14 years 79 48 0 23 8
15 to 19 years 42 21 0 21 0
20 to 24 years 20 20 0 0 0
25 to 29 years 85 74 0 11 0
30 or more years 6 6 0 0 0
No stated term or not computed 219 170 5 44 0
Median 18 23 0 14 13

Holder of First Mortgage

Commercial bank or trust company
110 67 4 31 8
Savings and loan association, federal
savings bank
54 36 0 18 0
Mutual savings bank 49 41 0 8 0
Life insurance company 5 0 0 5 0
Mortgage banker or mortgage company 37 37 0 0 0
Federally-sponsored secondary market
agency or pool
124 118 0 6 0
Conventional mortgage pool 6 0 0 6 0
Other federal agency 23 23 0 0 0
Real estate investment trust 7 0 0 7 0
Pension or retirement fund 0 0 0 0 0
Credit union 7 7 0 0 0
Finance company 0 0 0 0 0
State or municipal government or
housing finance agency
32 9 0 23 0
Individual or individual's estate 9 8 1 0 0
Other 12 0 0 12 0

First Mortgage Loan as a Percent of
Purchase Price

Properties acquired by
purchase with first mortgage
made or assumed at time of
purchase
344 264 5 68 8
Less than 40 percent 8 7 1 0 0
40 to 49 percent 9 0 0 9 0
50 to 59 percent 5 5 0 0 0
60 to 69 percent 12 12 0 0 0
70 to 79 percent 80 56 4 13 8
80 to 89 percent 81 81 0 0 0
90 to 94 percent 26 21 0 5 0
95 to 99 percent 13 13 0 0 0
100 percent or more 101 60 0 40 0
Not reported 8 8 0 0 0
Median 87 86 74 15725 75
Other properties 130 83 0 47 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
344 264 5 68 8
Less than 40 percent 7 7 0 0 0
40 to 49 percent 16 0 0 16 0
50 to 59 percent 5 5 0 0 0
60 to 69 percent 32 15 1 16 0
70 to 79 percent 78 58 4 8 8
80 to 89 percent 95 84 0 11 0
90 to 94 percent 21 21 0 0 0
95 to 99 percent 13 13 0 0 0
100 percent or more 69 52 0 17 0
Not reported 8 8 0 0 0
Median 83 85 74 72 75
Other properties 130 83 0 47 0
Not available 0 0 0 0 0

First Mortgage Risk

Subprime loan
26 20 0 6 0
Not subprime loan 448 327 5 109 8
Not reported 0 0 0 0 0

Index Used to Adjust Interest Rate
on ARM

Properties with adjustable
rate first mortgage
123 0 0 116 8
Treasury security 42 0 0 42 0
Average cost of funds in bank district 0 0 0 0 0
National average cost of funds 6 0 0 6 0
OTS contract mortgage rate 0 0 0 0 0
Other method 19 0 0 11 8
No index used 0 0 0 0 0
Not reported 56 0 0 56 0
Other properties 351 346 5 0 0
Not reported 0 0 0 0 0

Frequency With Which Rate Can Be
Adjusted

Properties with adjustable
rate first mortgage
123 0 0 116 8
Monthly 12 0 0 12 0
Every 3 months 5 0 0 5 0
Every 6 months 6 0 0 6 0
Yearly 26 0 0 26 0
Every 3 years 7 0 0 7 0
Every 5 years 11 0 0 11 0
Other 8 0 0 0 8
Not reported 49 0 0 49 0
Other properties 351 346 5 0 0
Not reported 0 0 0 0 0

Caps on Interest Rate Per Adjustment
Period

Properties with adjustable
rate first mortgage
123 0 0 116 8
Less than 1 percent 0 0 0 0 0
1 percent 8 0 0 8 0
1.1 to 1.9 percent 0 0 0 0 0
2 percent 23 0 0 23 0
2.1 to 2.9 percent 0 0 0 0 0
3 percent 4 0 0 4 0
3.1 to 3.9 percent 0 0 0 0 0
4.0 percent or more 12 0 0 12 0
No caps 20 0 0 12 8
Not reported 56 0 0 56 0
Other properties 351 346 5 0 0
Not reported 0 0 0 0 0

Caps on Interest Rate Over Life of ARM

Properties with adjustable
rate first mortgage
123 0 0 116 8
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 0 0 0 0 0
3.1 to 3.9 percent 0 0 0 0 0
4.0 percent or more 47 0 0 47 0
No caps 20 0 0 12 8
Not reported 56 0 0 56 0
Other properties 351 346 5 0 0
Not reported 0 0 0 0 0

Interest Rate Changed Since
Mortgage Made

Properties with adjustable
rate first mortgage
123 0 0 116 8
Yes, rate has changed 56 0 0 49 8
No change since mortgage made 11 0 0 11 0
Not reported 56 0 0 56 0
Other properties 351 346 5 0 0
Not reported 0 0 0 0 0

Percentage of Margin Over Index on ARM

Properties with adjustable rate
first mortgage
123 0 0 116 8
Less than 1 percent 0 0 0 0 0
1 percent 0 0 0 0 0
1.1 to 1.9 percent 15 0 0 15 0
2 percent 0 0 0 0 0
2.1 to 2.9 percent 18 0 0 18 0
3 percent 0 0 0 0 0
3.1 to 3.9 percent 7 0 0 7 0
4 percent 0 0 0 0 0
4.1 to 4.9 percent 4 0 0 4 0
5 percent or more 17 0 0 17 0
Not reported 63 0 0 55 8
Median 2.9 0.0 0.0 2.9 0.0
Other properties 351 346 5 0 0
Not reported 0 0 0 0 0

ARM Convertible to Fixed Rate Mortgage

Properties with adjustable rate
first mortgage
123 0 0 116 8
Can be converted 12 0 0 12 0
Cannot be converted 56 0 0 48 8
Not reported 56 0 0 56 0
Other properties 351 346 5 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
8 0 0 0 8
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 8 0 0 0 8
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
410 346 5 60 0
Not reported 56 0 0 56 0

First Mortgage Allows for Negative
Amortization

Monthly payments can change
(other than change in interest
rate)
8 0 0 0 8
Yes, unrestricted negative amortization 0 0 0 0 0
Yes, restricted negative amortization 8 0 0 0 8
No negative amortization allowed 0 0 0 0 0
Not reported 0 0 0 0 0
Monthly payments cannot change 410 346 5 60 0
Not reported 56 0 0 56 0

MORTGAGE PAYMENTS AND OTHER EXPENSES


Method of Payment of First Mortgage

Regular payments of interest
and/or principal
452 330 5 109 8
Interest and principal 446 330 5 104 8
Fully amortized 420 323 0 89 8
Not fully amortized 27 7 5 14 0
Interest only 6 0 0 6 0
No regular payments required 0 0 0 0 0
Not reported 23 16 0 6 0

Items Included in First Mortgage
Payment@1

Regular monthly payments of
both interest and principal
446 330 5 104 8
Real estate taxes 133 101 0 31 0
Property insurance 106 95 0 11 0
Mortgage insurance 21 21 0 0 0
Other 41 28 0 13 0
No items included or not reported 313 229 5 72 8
No regular payments of interest
and principal
28 16 0 12 0

Monthly Interest and Principal Payments
on First Mortgage

Monthly payments of interest
and/or principal
452 330 5 109 8
Less than $100 13 13 0 0 0
$100 to $199 24 12 1 12 0
$200 to $299 26 20 0 5 0
$300 to $399 51 39 0 12 0
$400 to $499 85 64 0 21 0
$500 to $599 30 22 0 0 8
$600 to $699 27 23 0 4 0
$700 to $799 21 21 0 0 0
$800 to $899 30 13 0 17 0
$900 to $999 21 13 0 8 0
$1,000 to $1,249 38 28 4 6 0
$1,250 to $1,499 20 8 0 12 0
$1,500 or more 67 55 0 12 0
Median 593 579 1106 803 550
Mean 812 834 935 761 542
No regular payments required 0 0 0 0 0
Not reported 23 16 0 6 0

Current First Mortgage Payment Status

Regular monthly payments of
principal and/or interest
474 346 5 116 8
Up-to-date, ahead of schedule, or
less than 90 days past due
223 156 0 60 8
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 251 191 5 56 0
Other properties 0 0 0 0 0

Monthly Interest and Principal Payments
on Total Mortgages

Regular monthly payments of
interest and/or principal
458 330 5 116 8
Less than $100 13 13 0 0 0
$100 to $199 25 6 1 18 0
$200 to $299 26 20 0 5 0
$300 to $399 51 39 0 12 0
$400 to $499 76 56 0 21 0
$500 to $599 35 28 0 0 8
$600 to $699 35 31 0 4 0
$700 to $799 21 21 0 0 0
$800 to $899 30 13 0 17 0
$900 to $999 21 13 0 8 0
$1,000 to $1,249 38 28 4 6 0
$1,250 to $1,499 20 8 0 12 0
$1,500 or more 67 55 0 12 0
Median 609 613 1106 635 550
Mean 812 846 935 728 542
No regular monthly payments
required
16 16 0 0 0

Interest and Principal Payment on
First Mortgage as Percent of Rental
Receipts

Acquired before 2000 and
regular payments of interest
and/or princi
385 284 5 88 8
Less than 20 percent 31 26 1 5 0
20 to 29 percent 14 7 0 7 0
30 to 39 percent 35 35 0 0 0
40 to 49 percent 27 16 0 11 0
50 to 59 percent 23 8 4 11 0
60 to 69 percent 26 21 0 5 0
70 to 79 percent 30 23 0 6 0
80 to 89 percent 42 42 0 0 0
90 to 99 percent 17 10 0 8 0
100 percent or more 99 68 0 24 8
Not reported or not computed 39 30 0 10 0
Median 75 76 54 68 50050
Other properties 90 62 0 28 0

Interest and Principal Payment on Total
Mortgages as Percent of Rental Receipts

Acquired before 2000 and regular
payments of interest and/or
principal
391 284 5 94 8
Less than 20 percent 31 26 1 5 0
20 to 29 percent 21 7 0 13 0
30 to 39 percent 35 35 0 0 0
40 to 49 percent 27 16 0 11 0
50 to 59 percent 18 2 4 11 0
60 to 69 percent 26 21 0 5 0
70 to 79 percent 21 15 0 6 0
80 to 89 percent 42 42 0 0 0
90 to 99 percent 17 10 0 8 0
100 percent or more 114 82 0 24 8
Not reported or not computed 39 30 0 10 0
Median 79 81 54 63 50050
Other properties 83 62 0 22 0

Real Estate Tax Per $1,000 Value

Acquired before 2000
407 301 5 94 8
Less than $5 8 8 0 0 0
$5 to $9 103 56 0 39 8
$10 to $14 46 36 0 10 0
$15 to $19 98 89 4 5 0
$20 to $24 36 21 0 15 0
$25 to $29 25 18 0 6 0
$30 to $39 83 64 1 19 0
$40 to $49 0 0 0 0 0
$50 to $59 0 0 0 0 0
$60 or more 0 0 0 0 0
Not reported or not computed 8 8 0 0 0
Median 17 18 18 14 8
Acquired 2000 and 2001 (part) 67 46 0 22 0

Real Estate Tax as Percent of Rental
Receipts

Acquired before 2000
407 301 5 94 8
Less than 5 percent 16 16 1 0 0
5 to 9 percent 73 50 0 23 0
10 to 14 percent 81 55 4 13 8
15 to 19 percent 61 44 0 17 0
20 to 24 percent 33 22 0 12 0
25 to 29 percent 45 32 0 13 0
30 to 34 percent 12 6 0 6 0
35 to 39 percent 10 10 0 0 0
40 percent or more 29 29 0 0 0
Not reported or not computed 48 38 0 10 0
Median 16 16 12 17 13
Acquired 2000 and 2001 (part) 67 46 0 22 0

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