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Residential Finance Survey: 2001 - South
Table 4-2d. 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
1527 1138 106 248 36

PROPERTY CHARACTERISTICS


Manner of Acquisition

By purchase
1390 1026 106 222 36
Placed one new mortgage 1257 926 94 202 36
Placed two or more new mortgages 24 10 7 7 0
Assumed mortgage(s) already on property 96 84 5 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
0 0 0 0 0
Paid all cash-no borrowing 7 7 0 0 0
Other manner 5 0 0 5 0
By inheritance or gift 41 41 0 0 0
By divorce 6 6 0 0 0
By tax free exchange of
other property
0 0 0 0 0
By foreclosure or assignment 7 7 0 0 0
By some other manner 20 12 0 8 0
Not reported 63 45 0 18 0

Source of Downpayment@1

Properties purchased
1995 to 2001 (part)
747 542 76 103 27
Sale of stock or other partnership
shares for this project
2 2 0 0 0
Sale of previously owned stocks,
shares, or other securities
7 7 0 0 0
Sale of land or other real estate 64 51 13 0 0
Owner's cash, bank deposits,
share accounts, or bonds
404 300 29 67 7
Borrowing from a retirement plan 18 12 0 7 0
Borrowing using assets other than this
property as collateral
30 30 0 0 0
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 47 34 6 7 0
Other cash source 30 15 7 0 7
Non-cash source 18 12 0 6 0
No downpayment required 107 68 20 13 5
Not reported 68 45 0 16 7
Other properties 737 563 30 134 9
Not reported 44 33 0 11 0

Year Property Acquired

1999 to 2001 (part)
408 293 27 74 15
1997 and 1998 217 169 34 9 5
1995 and 1996 195 134 15 39 7
1990 to 1994 286 216 11 58 0
1985 to 1989 217 152 10 55 0
1980 to 1984 102 84 8 0 9
1975 to 1979 55 42 0 13 0
1970 to 1974 30 30 0 0 0
1969 or earlier 18 18 0 0 0

Property New or Previously Owned When
Acquired

Acquired by purchase
1390 1026 106 222 36
New 260 208 16 36 0
Previously owned 1083 771 90 185 36
As residential property 1083 771 90 185 36
Converted from nonresidential use 0 0 0 0 0
Other 8 8 0 0 0
Not reported 40 40 0 0 0
Other properties 74 66 0 8 0
Not reported 63 45 0 18 0

Year Structure Built

1999 to March 2000
43 24 0 11 7
1997 and 1998 70 65 5 0 0
1995 and 1996 56 39 0 10 7
1990 to 1994 138 86 13 39 0
1980 to 1989 254 159 39 55 0
1970 to 1979 302 235 6 47 15
1960 to 1969 211 163 17 32 0
1950 to 1959 256 224 6 19 7
1940 to 1949 88 70 6 13 0
1939 or earlier 110 72 15 23 0

Purchase Price

Properties acquired by
purchase 1997 to 2001 (part)
566 418 61 68 20
Less than $20,000 39 27 8 0 5
$20,000 to $39,999 137 122 6 9 0
$40,000 to $59,999 84 54 7 23 0
$60,000 to $79,999 85 66 14 5 0
$80,000 to $99,999 58 32 19 7 0
$100,000 to $124,999 45 25 0 6 15
$125,000 to $149,999 58 38 7 13 0
$150,000 to $174,999 0 0 0 0 0
$175,000 to $199,999 15 15 0 0 0
$200,000 to $249,999 23 18 0 5 0
$250,000 to $299,999 12 12 0 0 0
$300,000 to $499,999 11 11 0 0 0
$500,000 or more 0 0 0 0 0
Median 65370 61780 74394 69043 108116
Mean 82670 83373 70073 88694 85760
Other properties 961 719 45 180 17

Value

Less than $20,000
59 54 0 0 5
$20,000 to $39,999 163 124 19 20 0
$40,000 to $59,999 236 192 19 16 9
$60,000 to $79,999 339 246 14 72 7
$80,000 to $99,999 192 103 19 70 0
$100,000 to $124,999 195 157 7 24 7
$125,000 to $149,999 73 47 0 19 7
$150,000 to $174,999 79 62 7 9 0
$175,000 to $199,999 28 23 5 0 0
$200,000 to $249,999 77 56 8 13 0
$250,000 to $299,999 33 25 7 0 0
$300,000 to $499,999 50 45 0 6 0
$500,000 or more 4 4 0 0 0
Median 78024 76135 81156 84765 69905
Mean 99676 100686 100820 98139 75154

Value of Capital Improvements

Properties with capital
improvements between 1998
and 2000
577 453 66 59 0
Less than $500 14 14 0 0 0
$500 to $999 25 10 6 9 0
$1,000 to $2,499 122 114 0 7 0
$2,500 to $4,999 136 86 44 5 0
$5,000 to $7,499 113 91 16 6 0
$7,500 to $9,999 29 29 0 0 0
$10,000 to $14,999 40 35 0 6 0
$15,000 to $19,999 28 21 0 7 0
$20,000 to $29,999 45 36 0 10 0
$30,000 or more 25 16 0 9 0
Median 4858 5034 4047 11381 0
Mean 9069 8206 3245 22278 0
Properties with no capital
improvements between 1998 and 2000
646 468 27 135 17
Capital improvements not
reported
305 217 13 55 20

Monthly Rental Receipts

Acquired before 2000
1288 973 85 201 29
Less than $100 67 67 0 0 0
$100 to $199 31 31 0 0 0
$200 to $299 65 25 6 20 15
$300 to $399 141 130 0 11 0
$400 to $499 149 133 5 11 0
$500 to $599 149 109 20 20 0
$600 to $799 222 132 15 68 7
$800 to $999 128 92 19 18 0
$1000 or more 246 188 21 30 7
No rental receipts 89 66 0 23 0
Median 598 562 763 679 300
Mean 737 758 772 640 607
Acquired 2000 and 2001 (part) 240 165 21 47 7

Rental Receipts as Percent of Value@8

Acquired before 2000
1288 973 85 201 29
Less than 5 percent 64 58 0 6 0
5 to 9 percent 348 273 41 24 9
10 to 14 percent 641 435 44 147 15
15 to 19 percent 45 45 0 0 0
20 to 24 percent 5 0 0 0 5
25 to 29 percent 9 9 0 0 0
30 to 39 percent 0 0 0 0 0
40 percent or more 20 20 0 0 0
Median 11 11 10 12 12
Acquired 2000 and 2001 (part) 240 165 21 47 7

Rental Vacancy Losses as Percent of
Potential Receipts

Acquired before 2000
1288 973 85 201 29
Less than 1.0 percent 392 290 34 63 5
1.0 to 2.9 percent 0 0 0 0 0
3.0 to 4.9 percent 0 0 0 0 0
5.0 to 6.9 percent 14 7 0 7 0
7.0 to 8.9 percent 38 38 0 0 0
9.0 to 10.9 percent 14 7 7 0 0
11.0 to 12.9 percent 6 0 0 6 0
13.0 to 14.9 percent 13 6 0 0 7
15.0 percent or more 136 101 6 29 0
Not reported or not computed 674 523 38 96 17
Median 0.8 0.8 0.7 0.8 13.3
Acquired 2000 and 2001 (part) 240 165 21 47 7

Age Restrictions

Property restricted to people
age 55 or older
130 90 5 34 0
Property not restricted to people
age 55 or older
1282 978 101 174 29
Not reported 116 70 0 39 7

Type of Property Benefits@1

Government-sponsored below-market
interest rate mortgage loan
9 9 0 0 0
Government rental subsidy 19 19 0 0 0
Government grant 13 13 0 0 0
Property tax relief 4 4 0 0 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 0 0 0 0 0
None of the above benefits 1277 928 106 214 29
Not reported 207 166 0 34 7

Source of Property Benefits@1

With property benefits
44 44 0 0 0
Federal government 27 27 0 0 0
State government 10 10 0 0 0
Local government 23 23 0 0 0
Non-profit corporation 0 0 0 0 0
Not reported 0 0 0 0 0
With no property benefits 1277 928 106 214 29
Not reported 207 166 0 34 7

Reason for Benefits@1

With property benefits
44 44 0 0 0
Occupied by low- or moderate-income
individuals
24 24 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 19 19 0 0 0
Not reported 0 0 0 0 0
With no property benefits 1277 928 106 214 29
Not reported 207 166 0 34 7

OWNER CHARACTERISTICS


Type of Owner

Individual investor(s)
1257 943 79 198 36
Limited partnership 91 83 0 7 0
Joint venture 12 12 0 0 0
General partnership 16 10 0 5 0
Life insurance company 11 5 0 6 0
Depository institution 0 0 0 0 0
Public real estate investment trust 7 0 0 7 0
Private real estate investment trust 0 0 0 0 0
Corporation - other than real estate
investment trust
95 63 13 19 0
Housing cooperative organization 5 0 0 5 0
Non-profit or church-related institution 28 14 14 0 0
Pension fund 0 0 0 0 0
Fraternal organization 0 0 0 0 0
Other 7 7 0 0 0

MORTGAGE CHARACTERISTICS


Method of Loan Application

By computer over the Internet or
by e-mail
7 7 0 0 0
By telephone or FAX 195 103 24 61 7
By regular mail 49 37 0 12 0
By personal visit 850 676 58 86 29
Through third party (such as real
estate agent or builder)
162 99 18 44 0
Some other way 31 31 0 0 0
Not reported 150 113 0 37 0
Not available 83 71 5 7 0

Origin of First Mortgage

Mortgage made at time property acquired
1166 858 87 184 36
Mortgage assumed at the time property
acquired
119 107 5 7 0
Mortgage placed later than acquisition of
property
242 173 13 56 0
Refinanced mortgage 229 160 13 56 0
Same lender 48 44 5 0 0
Different lender 181 116 8 56 0
Mortgage placed on property
owned free and clear of debt
13 13 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
242 173 13 56 0
Obtain lower interest rate 163 132 13 17 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
0 0 0 0 0
Receive cash or increase outstanding
balance of loan
53 32 0 21 0
Other reason 27 9 0 17 0
Not reported 0 0 0 0 0
Other properties 1285 965 92 192 36
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
95 51 0 44 0
Less than $20,000 57 20 0 38 0
$20,000 to $39,999 19 19 0 0 0
$40,000 to $59,999 7 7 0 0 0
$60,000 to $79,999 12 6 0 6 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 16554 26379 0 11597 0
Mean 22608 30843 0 12991 0
Properties that refinanced
and did not receive cash back
117 98 13 6 0
Properties that refinanced
and did not report if received
cash back
31 24 0 7 0
Properties that did not
refinance
1285 965 92 192 36
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
95 51 0 44 0
For additions, improvements or repairs
to this property
13 7 0 6 0
To consolidate debts 32 6 0 26 0
For investment in other real estate 24 12 0 12 0
For other types of investments 6 6 0 0 0
For educational or medical expenses 7 7 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 28 13 0 15 0
Not reported 0 0 0 0 0
Properties that refinanced
and did not receive cash back
117 98 13 6 0
Properties that refinanced
and did not report if received
cash back
31 24 0 7 0
Properties that did not
refinance
1285 965 92 192 36
Not available 0 0 0 0 0

Year First Mortgage Made or
Assumed

1999 to 2001 (part)
570 408 39 109 15
1997 and 1998 244 196 34 9 5
1995 and 1996 191 129 16 38 7
1990 to 1994 245 191 11 42 0
1985 to 1989 147 105 6 37 0
1980 to 1984 50 41 0 0 9
1979 or earlier 81 68 0 13 0

First Mortgage Insurance Status

FHA-insured first mortgage
108 88 0 11 9
VA-guaranteed first mortgage 50 39 0 11 0
Rural Housing Service-Rural Development-
insured or -guaranteed first mortgage
66 53 0 13 0
Other federal, state, or local
government-insured or guaranteed
first mortgage
91 78 0 12 0
Insured conventional first mortgage 115 79 14 14 7
Uninsured conventional first mortgage 1098 800 92 187 20
Not reported 0 0 0 0 0

Traditional First Mortgage Loan

Less than $20,000
162 132 11 14 5
$20,000 to $29,999 186 157 8 21 0
$30,000 to $39,999 175 116 12 37 9
$40,000 to $49,999 118 87 6 25 0
$50,000 to $59,999 193 165 8 13 7
$60,000 to $79,999 232 144 13 68 7
$80,000 to $99,999 145 112 12 14 7
$100,000 to $149,999 146 100 29 17 0
$150,000 to $199,999 54 24 7 22 0
$200,000 to $249,999 50 44 0 6 0
$250,000 to $299,999 5 5 0 0 0
$300,000 or more 7 7 0 0 0
Not reported 55 44 0 10 0
Median 54911 53305 72331 62243 54990
Mean 66669 66017 71458 69344 54839

Total Mortgage Loan

Less than $20,000
162 132 11 14 5
$20,000 to $29,999 184 157 0 27 0
$30,000 to $39,999 175 116 12 37 9
$40,000 to $49,999 110 79 6 25 0
$50,000 to $59,999 181 153 8 13 7
$60,000 to $79,999 237 141 21 68 7
$80,000 to $99,999 145 112 12 14 7
$100,000 to $149,999 168 122 29 17 0
$150,000 to $199,999 48 19 7 22 0
$200,000 to $249,999 46 40 0 6 0
$250,000 to $299,999 5 5 0 0 0
$300,000 or more 16 16 0 0 0
Not reported 49 44 0 5 0
Median 55937 54078 75163 61368 54990
Mean 69695 69976 75103 68293 54839

Traditional First Mortgage Outstanding
Debt

Less than $10,000
114 103 0 6 5
$10,000 to $19,999 114 68 11 35 0
$20,000 to $29,999 247 193 13 31 9
$30,000 to $39,999 160 129 19 12 0
$40,000 to $49,999 138 104 8 26 0
$50,000 to $59,999 165 121 0 37 7
$60,000 to $79,999 204 143 14 40 7
$80,000 to $99,999 136 79 26 23 7
$100,000 to $149,999 120 93 15 13 0
$150,000 to $199,999 41 31 0 10 0
$200,000 to $249,999 27 21 0 6 0
$250,000 to $299,999 12 12 0 0 0
$300,000 or more 0 0 0 0 0
Not reported 49 39 0 10 0
Median 47568 45359 63148 52501 54990
Mean 59459 58748 65421 61330 51367

Total Mortgage Outstanding Debt

Less than $10,000
114 103 0 6 5
$10,000 to $19,999 114 68 11 35 0
$20,000 to $29,999 245 193 5 37 9
$30,000 to $39,999 160 121 27 12 0
$40,000 to $49,999 125 92 8 26 0
$50,000 to $59,999 165 121 0 37 7
$60,000 to $79,999 204 150 7 40 7
$80,000 to $99,999 148 84 33 23 7
$100,000 to $149,999 129 102 15 13 0
$150,000 to $199,999 39 29 0 10 0
$200,000 to $249,999 20 14 0 6 0
$250,000 to $299,999 12 12 0 0 0
$300,000 or more 9 9 0 0 0
Not reported 43 39 0 5 0
Median 48693 46915 66110 51700 54990
Mean 60297 60152 67123 59356 51367

Current Interest Rate on First Mortgage

Less than 6.0 percent
644 455 61 101 27
6.0 percent 15 6 0 10 0
6.1 to 6.4 percent 23 17 0 6 0
6.5 to 6.9 percent 29 17 0 11 0
7.0 percent 71 64 0 7 0
7.1 to 7.4 percent 71 55 5 10 0
7.5 to 7.9 percent 51 42 0 9 0
8.0 percent 74 74 0 0 0
8.1 to 8.4 percent 35 29 0 6 0
8.5 to 8.9 percent 39 24 6 9 0
9.0 percent 22 22 0 0 0
9.1 to 9.4 percent 67 20 16 22 9
9.5 to 9.9 percent 39 35 0 4 0
10.0 percent 14 9 6 0 0
10.1 to 10.4 percent 15 15 0 0 0
10.5 to 10.9 percent 5 0 5 0 0
11.0 percent 26 18 8 0 0
11.1 to 12.9 percent 29 29 0 0 0
13.0 percent 0 0 0 0 0
13.1 percent or more 259 208 0 51 0
Not reported 0 0 0 0 0
Median 7.1 7.2 5.2 6.8 4.1

Type of Interest Rate Buydown

Properties with interest rate
buydown
25 25 0 0 0
Constant payment 0 0 0 0 0
3-2-1 buydown 0 0 0 0 0
Other 5 5 0 0 0
Not reported 20 20 0 0 0
Properties without interest
rate buydown
491 337 45 108 0
Not reported 1011 775 61 140 36

Term of First Mortgage

Less than 5 years
13 13 0 0 0
5 years 27 0 27 0 0
6 to 9 years 16 7 0 9 0
10 years 28 20 5 3 0
11 to 14 years 6 6 0 0 0
15 years 95 75 0 19 0
16 to 19 years 4 4 0 0 0
20 years 24 6 0 18 0
21 to 24 years 5 5 0 0 0
25 years 10 0 5 4 0
26 to 29 years 9 9 0 0 0
30 years 388 293 0 85 9
More than 30 years 18 10 8 0 0
No stated term 885 689 61 109 27
Median 30 30 6 30 31

Unexpired Term of First Mortgage

Less than 5 years
53 26 27 0 0
5 to 9 years 82 52 5 25 0
10 to 14 years 115 71 5 29 9
15 to 19 years 76 57 0 19 0
20 to 24 years 67 44 0 23 0
25 to 29 years 202 172 0 30 0
30 or more years 47 27 8 13 0
No stated term or not computed 885 689 61 109 27
Median 20 22 4 19 13

Holder of First Mortgage

Commercial bank or trust company
329 208 45 62 15
Savings and loan association, federal
savings bank
152 124 0 28 0
Mutual savings bank 9 9 0 0 0
Life insurance company 30 17 7 6 0
Mortgage banker or mortgage company 74 64 0 10 0
Federally-sponsored secondary market
agency or pool
631 488 28 99 17
Conventional mortgage pool 14 8 0 5 0
Other federal agency 59 41 7 5 5
Real estate investment trust 0 0 0 0 0
Pension or retirement fund 0 0 0 0 0
Credit union 72 51 5 16 0
Finance company 23 23 0 0 0
State or municipal government or
housing finance agency
71 60 0 11 0
Individual or individual's estate 37 37 0 0 0
Other 26 8 13 6 0

First Mortgage Loan as a Percent of
Purchase Price

Properties acquired by
purchase with first mortgage
made or assumed at time of
purchase
1163 869 92 166 36
Less than 40 percent 16 16 0 0 0
40 to 49 percent 14 14 0 0 0
50 to 59 percent 27 15 0 5 7
60 to 69 percent 163 141 0 21 0
70 to 79 percent 102 78 0 24 0
80 to 89 percent 211 111 46 38 17
90 to 94 percent 66 46 13 8 0
95 to 99 percent 99 79 5 15 0
100 percent or more 433 338 29 55 12
Not reported 31 31 0 0 0
Median 92 95 90 89 87
Other properties 364 269 13 82 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
1163 869 92 166 36
Less than 40 percent 0 0 0 0 0
40 to 49 percent 18 18 0 0 0
50 to 59 percent 30 24 0 6 0
60 to 69 percent 277 219 16 36 7
70 to 79 percent 113 86 5 22 0
80 to 89 percent 261 104 58 82 17
90 to 94 percent 39 31 7 0 0
95 to 99 percent 78 73 0 5 0
100 percent or more 314 281 6 15 12
Not reported 31 31 0 0 0
Median 85 87 84 82 87
Other properties 364 269 13 82 0
Not available 0 0 0 0 0

First Mortgage Risk

Subprime loan
124 102 0 23 0
Not subprime loan 1403 1036 106 225 36
Not reported 0 0 0 0 0

Index Used to Adjust Interest Rate
on ARM

Properties with adjustable
rate first mortgage
284 0 0 248 36
Treasury security 65 0 0 65 0
Average cost of funds in bank district 14 0 0 14 0
National average cost of funds 5 0 0 5 0
OTS contract mortgage rate 0 0 0 0 0
Other method 37 0 0 37 0
No index used 0 0 0 0 0
Not reported 162 0 0 126 36
Other properties 1243 1138 106 0 0
Not reported 0 0 0 0 0

Frequency With Which Rate Can Be
Adjusted

Properties with adjustable
rate first mortgage
284 0 0 248 36
Monthly 14 0 0 14 0
Every 3 months 0 0 0 0 0
Every 6 months 17 0 0 17 0
Yearly 58 0 0 58 0
Every 3 years 20 0 0 20 0
Every 5 years 14 0 0 14 0
Other 0 0 0 0 0
Not reported 162 0 0 126 36
Other properties 1243 1138 106 0 0
Not reported 0 0 0 0 0

Caps on Interest Rate Per Adjustment
Period

Properties with adjustable
rate first mortgage
284 0 0 248 36
Less than 1 percent 0 0 0 0 0
1 percent 0 0 0 0 0
1.1 to 1.9 percent 10 0 0 10 0
2 percent 60 0 0 60 0
2.1 to 2.9 percent 3 0 0 3 0
3 percent 0 0 0 0 0
3.1 to 3.9 percent 0 0 0 0 0
4.0 percent or more 12 0 0 12 0
No caps 37 0 0 37 0
Not reported 162 0 0 126 36
Other properties 1243 1138 106 0 0
Not reported 0 0 0 0 0

Caps on Interest Rate Over Life of ARM

Properties with adjustable
rate first mortgage
284 0 0 248 36
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 109 0 0 109 0
No caps 13 0 0 13 0
Not reported 162 0 0 126 36
Other properties 1243 1138 106 0 0
Not reported 0 0 0 0 0

Interest Rate Changed Since
Mortgage Made

Properties with adjustable
rate first mortgage
284 0 0 248 36
Yes, rate has changed 78 0 0 78 0
No change since mortgage made 44 0 0 44 0
Not reported 162 0 0 126 36
Other properties 1243 1138 106 0 0
Not reported 0 0 0 0 0

Percentage of Margin Over Index on ARM

Properties with adjustable rate
first mortgage
284 0 0 248 36
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 5 0 0 5 0
2.1 to 2.9 percent 51 0 0 51 0
3 percent 16 0 0 16 0
3.1 to 3.9 percent 19 0 0 19 0
4 percent 0 0 0 0 0
4.1 to 4.9 percent 0 0 0 0 0
5 percent or more 23 0 0 23 0
Not reported 170 0 0 134 36
Median 3.0 0.0 0.0 3.0 0.0
Other properties 1243 1138 106 0 0
Not reported 0 0 0 0 0

ARM Convertible to Fixed Rate Mortgage

Properties with adjustable rate
first mortgage
284 0 0 248 36
Can be converted 26 0 0 26 0
Cannot be converted 82 0 0 82 0
Not reported 176 0 0 140 36
Other properties 1243 1138 106 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
1365 1138 106 122 0
Not reported 162 0 0 126 36

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 1365 1138 106 122 0
Not reported 162 0 0 126 36

MORTGAGE PAYMENTS AND OTHER EXPENSES


Method of Payment of First Mortgage

Regular payments of interest
and/or principal
1354 996 106 216 36
Interest and principal 1354 996 106 216 36
Fully amortized 1227 981 5 205 36
Not fully amortized 127 15 101 11 0
Interest only 0 0 0 0 0
No regular payments required 6 6 0 0 0
Not reported 168 136 0 32 0

Items Included in First Mortgage
Payment@1

Regular monthly payments of
both interest and principal
1354 996 106 216 36
Real estate taxes 297 236 0 61 0
Property insurance 333 262 0 71 0
Mortgage insurance 52 52 0 0 0
Other 121 106 0 14 0
No items included or not reported 1011 728 106 140 36
No regular payments of interest
and principal
174 141 0 32 0

Monthly Interest and Principal Payments
on First Mortgage

Monthly payments of interest
and/or principal
1354 996 106 216 36
Less than $100 48 43 5 0 0
$100 to $199 67 43 6 18 0
$200 to $299 202 147 13 27 15
$300 to $399 215 173 0 42 0
$400 to $499 127 86 18 23 0
$500 to $599 167 129 8 30 0
$600 to $699 82 57 13 4 7
$700 to $799 112 100 0 12 0
$800 to $899 61 33 14 0 15
$900 to $999 50 36 0 14 0
$1,000 to $1,249 74 28 21 26 0
$1,250 to $1,499 76 54 8 13 0
$1,500 or more 73 67 0 6 0
Median 511 505 624 489 650
Mean 1157 1349 668 611 554
No regular payments required 6 6 0 0 0
Not reported 168 136 0 32 0

Current First Mortgage Payment Status

Regular monthly payments of
principal and/or interest
1522 1132 106 248 36
Up-to-date, ahead of schedule, or
less than 90 days past due
537 370 45 122 0
Delinquent by 90 days or more 18 18 0 0 0
Legal proceedings have begun 12 12 0 0 0
Legal proceedings have not begun 5 5 0 0 0
Not reported 0 0 0 0 0
Not reported 966 744 61 126 36
Other properties 6 6 0 0 0

Monthly Interest and Principal Payments
on Total Mortgages

Regular monthly payments of
interest and/or principal
1354 996 106 216 36
Less than $100 43 38 5 0 0
$100 to $199 60 43 6 11 0
$200 to $299 192 145 6 27 15
$300 to $399 222 173 0 49 0
$400 to $499 123 79 26 17 0
$500 to $599 167 129 8 30 0
$600 to $699 83 52 13 10 7
$700 to $799 100 87 0 12 0
$800 to $899 55 33 7 0 15
$900 to $999 64 50 0 14 0
$1,000 to $1,249 91 45 21 26 0
$1,250 to $1,499 77 49 15 13 0
$1,500 or more 78 73 0 6 0
Median 523 516 624 511 650
Mean 1186 1382 705 620 554
No regular monthly payments
required
174 141 0 32 0

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

Acquired before 2000 and
regular payments of interest
and/or princi
1145 856 85 175 29
Less than 20 percent 54 49 5 0 0
20 to 29 percent 18 18 0 0 0
30 to 39 percent 35 35 0 0 0
40 to 49 percent 58 30 0 28 0
50 to 59 percent 121 78 0 43 0
60 to 69 percent 127 107 7 13 0
70 to 79 percent 94 62 6 19 7
80 to 89 percent 106 66 19 21 0
90 to 99 percent 101 81 16 4 0
100 percent or more 280 203 33 22 22
Not reported or not computed 150 127 0 23 0
Median 79 78 94 63 32960
Other properties 382 281 21 73 7

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

Acquired before 2000 and regular
payments of interest and/or
principal
1145 856 85 175 29
Less than 20 percent 48 43 5 0 0
20 to 29 percent 18 18 0 0 0
30 to 39 percent 35 35 0 0 0
40 to 49 percent 53 25 0 28 0
50 to 59 percent 132 89 0 43 0
60 to 69 percent 104 83 7 13 0
70 to 79 percent 72 54 6 6 7
80 to 89 percent 106 66 19 21 0
90 to 99 percent 109 89 16 4 0
100 percent or more 318 227 33 35 22
Not reported or not computed 150 127 0 23 0
Median 83 83 94 63 32960
Other properties 382 281 21 73 7

Real Estate Tax Per $1,000 Value

Acquired before 2000
1288 973 85 201 29
Less than $5 138 113 5 15 5
$5 to $9 525 375 49 84 17
$10 to $14 253 214 8 30 0
$15 to $19 141 91 16 27 7
$20 to $24 80 55 7 19 0
$25 to $29 56 48 0 8 0
$30 to $39 74 62 0 12 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 21 16 0 5 0
Median 10 10 9 10 8
Acquired 2000 and 2001 (part) 240 165 21 47 7

Real Estate Tax as Percent of Rental
Receipts

Acquired before 2000
1288 973 85 201 29
Less than 5 percent 74 57 5 7 5
5 to 9 percent 401 293 41 59 7
10 to 14 percent 236 174 5 40 17
15 to 19 percent 180 122 22 37 0
20 to 24 percent 106 89 12 6 0
25 to 29 percent 62 37 0 25 0
30 to 34 percent 25 25 0 0 0
35 to 39 percent 8 8 0 0 0
40 percent or more 19 19 0 0 0
Not reported or not computed 177 149 0 28 0
Median 12 12 10 13 11
Acquired 2000 and 2001 (part) 240 165 21 47 7

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